World - Frozen Fish Fillet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFrozen Fish Fillet Market
The global market for frozen fish fillet is poised for growth, with consumption volume and market value projected to increase in the coming years. The United States, China, Germany, and Japan are among the key players in this market. Consumption trends, production volumes, import and export dynamics, and price fluctuations are all analyzed to provide a comprehensive overview of the industry.
Market Forecast
Driven by increasing demand for frozen fish fillet worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 5.4M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $33.9B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Frozen Fish Fillet
In 2022, consumption of frozen fish fillet decreased by -1.3% to 4.6M tons for the first time since 2017, thus ending a four-year rising trend. The total consumption volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the consumption volume increased by 8.2%. Over the period under review, global consumption reached the peak volume at 4.7M tons in 2021, and then contracted in the following year.
The global frozen fish fillet market size expanded significantly to $26B in 2022, surging by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.
Consumption By Country
The United States (907K tons) constituted the country with the largest volume of frozen fish fillet consumption, comprising approx. 20% of total volume. Moreover, frozen fish fillet consumption in the United States exceeded the figures recorded by the second-largest consumer, Germany (443K tons), twofold. The third position in this ranking was held by China (383K tons), with an 8.3% share.
In the United States, frozen fish fillet consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-0.4% per year) and China (+43.2% per year).
In value terms, the United States ($7.3B) led the market, alone. The second position in the ranking was taken by Germany ($2.4B). It was followed by Japan.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +3.4%. In the other countries, the average annual rates were as follows: Germany (+2.3% per year) and Japan (+0.8% per year).
In 2022, the highest levels of frozen fish fillet per capita consumption was registered in Greenland (1,885 kg per person), followed by Norway (21 kg per person), Germany (5.3 kg per person) and the UK (4.4 kg per person), while the world average per capita consumption of frozen fish fillet was estimated at 0.6 kg per person.
In Greenland, frozen fish fillet per capita consumption increased at an average annual rate of +28.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Norway (-2.5% per year) and Germany (-0.8% per year).
Production
World Production of Frozen Fish Fillet
After four years of growth, production of frozen fish fillet decreased by -0.3% to 4.5M tons in 2022. The total output volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 5.7% against the previous year. Global production peaked at 4.5M tons in 2021, and then contracted slightly in the following year.
In value terms, frozen fish fillet production fell to $23.6B in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +11.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23%. Global production peaked at $28.1B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were Vietnam (1M tons), China (809K tons) and the United States (387K tons), together comprising 50% of global production. Germany, Norway, Russia, the UK, Chile, Greenland, Indonesia, Argentina, France and Iceland lagged somewhat behind, together accounting for a further 33%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Greenland (with a CAGR of +21.2%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Frozen Fish Fillet
In 2022, global frozen fish fillet imports was estimated at 3.2M tons, increasing by 8.5% on the previous year. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, frozen fish fillet imports surged to $20.1B in 2022. The total import value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports By Country
In 2022, the United States (641K tons), distantly followed by Japan (264K tons), Germany (263K tons), China (212K tons), France (160K tons), Poland (153K tons), the Netherlands (145K tons) and the UK (145K tons) were the major importers of frozen fish fillet, together committing 63% of total imports. Spain (113K tons), Mexico (88K tons), Italy (82K tons), Canada (61K tons) and Brazil (59K tons) held a relatively small share of total imports.
From 2012 to 2022, average annual rates of growth with regard to frozen fish fillet imports into the United States stood at +1.1%. At the same time, China (+36.8%), Mexico (+9.1%), the Netherlands (+4.1%), Canada (+3.1%), Poland (+2.1%) and Japan (+1.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +36.8% from 2012-2022. Italy, France and the UK experienced a relatively flat trend pattern. By contrast, Spain (-1.4%), Germany (-2.6%) and Brazil (-7.6%) illustrated a downward trend over the same period. While the share of China (+6.4 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Brazil (-2.8 p.p.) and Germany (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($5.3B) constitutes the largest market for imported frozen fish fillet worldwide, comprising 26% of global imports. The second position in the ranking was held by Japan ($2.4B), with a 12% share of global imports. It was followed by Germany, with a 7.3% share.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+1.0% per year) and Germany (+0.4% per year).
Import Prices By Country
In 2022, the average frozen fish fillet import price amounted to $6,373 per ton, picking up by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($9,208 per ton), while China ($2,661 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Frozen Fish Fillet
In 2022, after three years of decline, there was significant growth in overseas shipments of frozen fish fillet, when their volume increased by 11% to 3M tons. Overall, exports saw a relatively flat trend pattern. The global exports peaked at 3M tons in 2018; afterwards, it flattened through to 2022.
In value terms, frozen fish fillet exports skyrocketed to $18.5B in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports By Country
In 2022, Vietnam (733K tons) and China (638K tons) represented the key exporters of frozen fish filletaround the world, together achieving 46% of total exports. Russia (168K tons) took the next position in the ranking, followed by the Netherlands (149K tons) and Norway (145K tons). All these countries together held near 15% share of total exports. The following exporters - Chile (134K tons), the United States (120K tons), Indonesia (105K tons), Germany (77K tons), Argentina (67K tons), Poland (67K tons), Namibia (67K tons) and Denmark (54K tons) - together made up 23% of total exports.
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +9.5%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the largest frozen fish fillet supplying countries worldwide were China ($3.6B), Vietnam ($2.8B) and Chile ($1.6B), together comprising 43% of global exports. Norway, the Netherlands, Russia, Indonesia, Poland, Denmark, the United States, Germany, Namibia and Argentina lagged somewhat behind, together accounting for a further 36%.
Among the main exporting countries, Indonesia, with a CAGR of +13.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average frozen fish fillet export price amounted to $6,148 per ton, growing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, the export 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 suppliers, the country with the highest price was Chile ($12,109 per ton), while Argentina ($3,314 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+5.3%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global frozen fish fillet market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10201400 - Frozen fish fillets
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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