Turkey: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Turkey

After two years of growth, the Turkish frozen fish and seafood market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Production of Frozen Fish and Seafood in Turkey

In value terms, frozen fish and seafood production expanded notably to $X in 2023 estimated in export price. Over the period under review, production, however, showed a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

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Exports of Frozen Fish and Seafood

Exports from Turkey

In 2023, approx. X tons of frozen fish and seafood were exported from Turkey; picking up by X% on the previous year's figure. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in years to come.

In value terms, frozen fish and seafood exports totaled $X in 2023. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to see gradual growth in years to come.

Exports by Country

Russia (X tons) was the main destination for frozen fish and seafood exports from Turkey, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Russia exceeded the volume sent to the second major destination, Italy (X tons), sixfold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and the UK (X% per year).

In value terms, Russia ($X) remains the key foreign market for frozen fish and seafood exports from Turkey, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Italy, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Italy (X% per year).

Export Prices by Country

In 2023, the average frozen fish and seafood export price amounted to $X per ton, which is down by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Turkey

In 2023, purchases abroad of frozen fish and seafood decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, total imports indicated a buoyant increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2022, and then reduced in the following year.

In value terms, frozen fish and seafood imports dropped to $X in 2023. In general, total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2023, Morocco (X tons) constituted the largest supplier of frozen fish and seafood to Turkey, with a X% share of total imports. Moreover, frozen fish and seafood imports from Morocco exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by Seychelles (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Morocco totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Seychelles (X% per year).

In value terms, the largest frozen fish and seafood suppliers to Turkey were Malaysia ($X), Spain ($X) and Morocco ($X), with a combined X% share of total imports. Seychelles, Norway, Iceland, India, Tanzania, Vietnam, Oman, the Netherlands, South Korea and China lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform