Ukraine: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Ukraine

The Ukrainian frozen fish and seafood market skyrocketed to $X in 2023, surging by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Production of Frozen Fish and Seafood in Ukraine

In value terms, frozen fish and seafood production totaled $X in 2023 estimated in export price. Over the period under review, the total production indicated measured growth 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

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Exports of Frozen Fish and Seafood

Exports from Ukraine

In 2023, shipments abroad of frozen fish and seafood decreased by X% to X tons, falling for the second year in a row after seven years of growth. Overall, exports saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports dropped remarkably to $X in 2023. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Hungary (X tons) and the Netherlands (X tons) were the main destinations of frozen fish and seafood exports from Ukraine, with a combined X% share of total exports. Moldova, the United States, Denmark, Lithuania, Poland, Turkey, France and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and the United States ($X) constituted the largest markets for frozen fish and seafood exported from Ukraine worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then dropped markedly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Moldova ($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 Belarus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Ukraine

In 2023, the amount of frozen fish and seafood imported into Ukraine rose modestly to X tons, with an increase of X% on 2022 figures. Over the period under review, imports, however, saw a pronounced setback. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, frozen fish and seafood imports skyrocketed to $X in 2023. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

Iceland (X tons), Norway (X tons) and Estonia (X tons) were the main suppliers of frozen fish and seafood imports to Ukraine, with a combined X% share of total imports. The United States, Latvia, the UK, Spain, Canada, Argentina, Faroe Islands, Ecuador, Mauritania and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Latvia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to Ukraine were Iceland ($X), Norway ($X) and the United States ($X), with a combined X% share of total imports. Spain, Canada, the UK, Ecuador, Estonia, Argentina, China, Latvia, Faroe Islands and Mauritania lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Ecuador, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the average frozen fish and seafood import price amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2023: its price 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, frozen fish and seafood import price increased by X% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform