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World - Frozen Fish Meat - Market Analysis, Forecast, Size, Trends and Insights
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The global frozen fish meat market is projected to grow steadily over the next eight years, with an anticipated increase in consumption volume and value. Japan emerges as the largest consumer and importer of frozen fish meat, with significant growth potential. Market trends show consistent patterns of growth in various countries, with notable fluctuations in certain years. Overall, the market is expected to see continued expansion and increasing demand worldwide.
Market Forecast
Driven by increasing demand for frozen fish meat worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 1.6M 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 $4.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Frozen Fish Meat
In 2022, the amount of frozen fish meat consumed worldwide expanded modestly to 1.4M tons, with an increase of 2.7% on the previous year. The total consumption 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 with an increase of 4.6%. Over the period under review, global consumption hit record highs in 2022 and is likely to see gradual growth in the immediate term.
The global frozen fish meat market revenue expanded significantly to $3.7B in 2022, with an increase of 5.1% 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 +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the market value increased by 7.7%. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.
Consumption By Country
Japan (273K tons) remains the largest frozen fish meat consuming country worldwide, accounting for 20% of total volume. Moreover, frozen fish meat consumption in Japan exceeded the figures recorded by the second-largest consumer, South Korea (133K tons), twofold. Chile (80K tons) ranked third in terms of total consumption with a 5.8% share.
In Japan, frozen fish meat consumption decreased by an average annual rate of -1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+1.7% per year) and Chile (+0.0% per year).
In value terms, Japan ($1B) led the market, alone. The second position in the ranking was taken by South Korea ($280M). It was followed by Thailand.
In Japan, the frozen fish meat market declined by an average annual rate of -1.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: South Korea (+2.8% per year) and Thailand (+18.2% per year).
In 2022, the highest levels of frozen fish meat per capita consumption was registered in Faroe Islands (1,245 kg per person), followed by Namibia (20 kg per person), Norway (12 kg per person) and Chile (4.2 kg per person), while the world average per capita consumption of frozen fish meat was estimated at 0.2 kg per person.
In Faroe Islands, frozen fish meat per capita consumption increased at an average annual rate of +18.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Namibia (-0.8% per year) and Norway (+5.6% per year).
Production
World Production of Frozen Fish Meat
In 2022, production of frozen fish meat decreased by -0.9% to 1.4M tons for the first time since 2015, thus ending a six-year rising trend. The total output volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 9.2%. Over the period under review, global production attained the maximum volume at 1.4M tons in 2021, and then dropped slightly in the following year.
In value terms, frozen fish meat production shrank to $2.4B in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 14% against the previous year. Over the period under review, global production hit record highs at $2.5B in 2021, and then dropped slightly in the following year.
Production By Country
The countries with the highest volumes of production in 2022 were the United States (243K tons), Vietnam (212K tons) and Norway (145K tons), together comprising 44% of global production. India, Chile, China, Faroe Islands, Namibia, Indonesia, Russia, Japan and Argentina lagged somewhat behind, together accounting for a further 41%.
From 2012 to 2022, the biggest increases were recorded for Faroe Islands (with a CAGR of +12.7%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Frozen Fish Meat
In 2022, purchases abroad of frozen fish meat increased by 1.6% to 970K tons, rising for the second consecutive year after two years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 9.6% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, frozen fish meat imports expanded significantly to $3.1B in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 11% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
Imports By Country
In 2022, Japan (245K tons), distantly followed by South Korea (140K tons), Thailand (73K tons) and China (50K tons) represented the main importers of frozen fish meat, together comprising 52% of total imports. Taiwan (Chinese) (42K tons), France (40K tons), Germany (34K tons), Malaysia (32K tons), Spain (30K tons), Poland (30K tons), Canada (28K tons), Lithuania (21K tons) and Ukraine (19K tons) followed a long way behind the leaders.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +17.6%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, Japan ($947M) constitutes the largest market for imported frozen fish meat worldwide, comprising 30% of global imports. The second position in the ranking was taken by South Korea ($300M), with a 9.5% share of global imports. It was followed by Canada, with a 6.2% share.
From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+3.4% per year) and Canada (+5.9% per year).
Import Prices By Country
In 2022, the average frozen fish meat import price amounted to $3,244 per ton, growing by 8.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. 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 destination: amid the top importers, the country with the highest price was Canada ($6,986 per ton), while Ukraine ($2,037 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Frozen Fish Meat
In 2022, the amount of frozen fish meat exported worldwide dropped to 968K tons, declining by -3.3% against the year before. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 7.6% against the previous year. As a result, the exports reached the peak of 1M tons, and then declined slightly in the following year.
In value terms, frozen fish meat exports expanded rapidly to $3.3B in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.
Exports By Country
Vietnam (200K tons) and the United States (186K tons) represented the major exporters of frozen fish meat in 2022, finishing at approx. 21% and 19% of total exports, respectively. It was distantly followed by India (118K tons), China (83K tons) and Norway (81K tons), together generating a 29% share of total exports. Russia (39K tons), Chile (31K tons), the Netherlands (26K tons), Thailand (26K tons) and Indonesia (21K tons) followed a long way behind the leaders.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Netherlands (with a CAGR of +22.5%), while the other global leaders experienced more modest paces of growth.
In value terms, the largest frozen fish meat supplying countries worldwide were the United States ($574M), Vietnam ($507M) and China ($434M), with a combined 46% share of global exports. Chile, India, Norway, Russia, Thailand, the Netherlands and Indonesia lagged somewhat behind, together accounting for a further 37%.
Russia, with a CAGR of +18.7%, recorded the highest growth rate of 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
The average frozen fish meat export price stood at $3,370 per ton in 2022, growing by 8.8% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($12,317 per ton), while Norway ($2,040 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+4.8%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global frozen fish meat 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 10201500 - Frozen fish meat without bones (excluding 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
-
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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