Global Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size

In 2023, the global frozen fish fillet market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a perceptible expansion 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, consumption increased by X% against 2020 indices. Over the period under review, the global market hit record highs at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Frozen Fish Fillet Production

In value terms, frozen fish fillet production rose slightly to $X in 2023 estimated in export price. Overall, the total production indicated a notable expansion 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Frozen Fish Fillet Exports

Exports

Global frozen fish fillet exports contracted to X tons in 2023, which is down by X% on 2022 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. The global exports peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, frozen fish fillet exports declined to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports attained the peak of $X, and then shrank modestly in the following year.

Exports by Country

Vietnam (X tons) and China (X tons) represented roughly X% of total exports in 2023. Russia (X tons) ranks next in terms of the total exports with a X% share, followed by Norway (X%), the Netherlands (X%), Chile (X%) and the United States (X%). The following exporters - Germany (X tons), Namibia (X tons), Argentina (X tons), Iceland (X tons), Poland (X tons) and Indonesia (X tons) - together made up X% of total exports.

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

In value terms, the largest frozen fish fillet supplying countries worldwide were China ($X), Vietnam ($X) and Chile ($X), together accounting for X% of global exports. Norway, the Netherlands, Russia, Poland, Germany, the United States, Iceland, Indonesia, Namibia and Argentina lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average frozen fish fillet export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last eleven years, 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. Over the period under review, the average export prices reached the maximum in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Frozen Fish Fillet Imports

Imports

After two years of growth, overseas purchases of frozen fish fillet decreased by X% to X tons in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, frozen fish fillet imports fell to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2023, the United States (X tons), distantly followed by Germany (X tons), Japan (X tons), Poland (X tons), the Netherlands (X tons), the UK (X tons) and France (X tons) were the main importers of frozen fish fillet, together making up X% of total imports. The following importers - China (X tons), Spain (X tons), Mexico (X tons), Italy (X tons), Sweden (X tons) and South Korea (X tons) - together made up X% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of frozen fish fillet. At the same time, China (X%), Mexico (X%), Sweden (X%), the Netherlands (X%), South Korea (X%) and Poland (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. Italy, Japan and the UK experienced a relatively flat trend pattern. By contrast, France (X%), Spain (X%) and Germany (X%) illustrated a downward trend over the same period. China (X p.p.), Mexico (X p.p.) and the Netherlands (X p.p.) significantly strengthened its position in terms of the global imports, while the United States and Germany saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Japan ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of global imports. The UK, France, the Netherlands, Poland, Spain, Italy, Sweden, Mexico, South Korea and China lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish fillet import price stood at $X per ton in 2023, approximately reflecting the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Global import price peaked in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform