frozen fish market Archives

Entering the European Union (EU) market with frozen fish products requires careful planning, market research, and understanding of the regulatory framework. This guide provides valuable information, official data sources, and assistance from authorities to help you develop a successful market entry strategy.

Understanding the European Union Market

The EU is one of the largest consumers of seafood products, including frozen fish. In 2022, several countries within the EU imported significant amounts of frozen fish. According to IndexBox market intelligence platform, the top five countries in terms of import value were Germany (USD 3.674 billion), Spain (USD 3.411 billion), France (USD 2.858 billion), Poland (USD 2.248 billion), and Italy (USD 2.147 billion).

Furthermore, the top five countries in terms of import prices for frozen fish were Luxembourg (USD 9.261 per kg), Austria (USD 7.584 per kg), Cyprus (USD 7.353 per kg), Finland (USD 6.654 per kg), and Belgium (USD 6.285 per kg).

Official Data Sources and Assistance

When entering the EU market, it is essential to have access to reliable data sources and seek assistance from relevant authorities. The following official data sources can provide valuable market insights:

Eurostat: Eurostat is the statistical office of the European Union. It provides a wide range of data on various aspects, including international trade, market trends, and consumer behavior.
European Market Observatory for Fisheries and Aquaculture Products (EUMOFA): EUMOFA is a comprehensive online platform that provides market analysis, price trends, and trade statistics for fish and aquaculture products within the EU.
National Statistical Institutes: Each EU member state has its own national statistical institute, which offers country-specific trade data and market insights. These institutes can provide valuable information on consumer preferences, distribution channels, and market dynamics.

In addition to accessing official data sources, it is crucial to seek assistance from relevant authorities. They can provide guidance on regulatory requirements, labeling, and certification. The following authorities can help you navigate the EU market:

European Commission (EC): The EC is responsible for enforcing EU regulations and policies. It provides guidance on market access, labeling, and food safety standards.
European Food Safety Authority (EFSA): EFSA is an EU agency that assesses food and drink safety. They provide scientific advice on risk assessment, ensuring the safety of products entering the EU market.
Chambers of Commerce: Chambers of Commerce in various EU member states offer business support services, including market-entry assistance, networking opportunities, and guidance on legal and regulatory matters.

Market Research and Analysis

Before entering the EU market, conducting thorough market research and analysis is crucial. This will help you understand consumer preferences, market trends, competitive landscape, and distribution channels. It is essential to identify target segments and tailor your products accordingly.

Consider the following factors during your market research:

Consumer Preferences: Analyze consumer preferences for frozen fish products, including preferred species, packaging formats, sustainability considerations, and dietary trends.
Market Trends: Stay updated on market trends, such as the growing demand for organic or sustainably sourced fish products, convenience-oriented packaging, and the rise of e-commerce.
Competitive Landscape: Identify key competitors, their market share, pricing strategies, and unique selling points. Study their distribution networks and customer relationships.
Distribution Channels: Understand the distribution channels for frozen fish products, such as supermarkets, specialty stores, restaurants, and e-commerce platforms. Identify potential partners and evaluate their capabilities.

Regulatory Compliance

Complying with EU regulations is essential for market entry success. Ensure your frozen fish products meet the following regulatory requirements:

Food Safety and Hygiene Regulations: Implement a robust food safety management system based on Hazard Analysis and Critical Control Points (HACCP) principles.
EU Common Fisheries Policy (CFP): Familiarize yourself with the CFP, which governs fishing and aquaculture activities within the EU. Adhere to sustainable fishing practices and ensure traceability of your products.
Labelling Requirements: Ensure accurate and compliant labeling, including product name, country of origin, allergen information, nutritional values, and storage instructions. Familiarize yourself with the specific labeling requirements of each EU member state.

Trade Shows and Exhibitions \

Participating in trade shows and exhibitions can provide valuable opportunities for networking, showcasing products, and conducting market research. Consider attending the following events related to frozen fish in the EU:

Seafood Expo Global: This event is one of the largest seafood trade shows, held annually in Brussels, Belgium. It attracts professionals from the industry worldwide and offers a platform for networking and business development.
International Seafood Show: The International Seafood Show takes place in Vigo, Spain, and showcases a wide range of seafood products, including frozen fish. It is an ideal event to connect with potential buyers and distributors.
European Seafood Exposition: Held in Brussels, the European Seafood Exposition focuses on seafood products from Europe and around the world. It serves as a meeting point for buyers, sellers, and industry professionals.

These trade shows and exhibitions provide a platform to connect with potential partners, discover market trends, and gain insights into customer preferences. They can play a significant role in your market entry strategy.

Conclusion

Entering the EU market with frozen fish requires careful planning, market research, and regulatory compliance. By utilizing official data sources, seeking assistance from relevant authorities, conducting thorough market research, and complying with regulatory requirements, you can develop a successful market entry strategy. Trade shows and exhibitions offer valuable opportunities for networking, brand promotion, and market research. With the right strategy and thorough preparation, you can tap into the vast potential of the European Union market for frozen fish.

Source: IndexBox Market Intelligence Platform

IndexBox has just published a new report: ‘World – Frozen Fish – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global frozen fish market revenue amounted to $118.3B in 2018, rising by 6.6% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2014 to 2018.

Driven by increasing demand for frozen fish worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2018 to 2030, which is projected to bring the market volume to 43M tonnes by the end of 2030.

Frozen Fish Trade 2014-2018

In 2018, the global exports of frozen fish amounted to 17M tonnes, increasing by 6.5% against the previous year. The total export volume increased at an average annual rate of +2.8% from 2014 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 7.1% year-to-year. Over the period under review, global frozen fish exports reached their maximum in 2018 and are likely to continue its growth in the near future.

In value terms, frozen fish exports stood at $43.9B (IndexBox estimates) in 2018.

Exports by Country

The exports of the twelve major exporters of frozen fish, namely China, Russia, the U.S., Viet Nam, Norway, the Netherlands, Chile, Taiwan, Chinese, Japan, Spain, Namibia and India, represented more than half of total export.

From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India, while exports for the other global leaders experienced more modest paces of growth.

In value terms, China ($7.6B) remains the largest frozen fish supplier worldwide, comprising 17% of global exports. The second position in the ranking was occupied by the U.S. ($3.6B), with a 8.2% share of global exports. It was followed by Russia, with a 6.7% share.

Export Prices by Country

In 2018, the average frozen fish export price amounted to $2,574 per tonne, increasing by 2.9% against the previous year. Over the period under review, the frozen fish export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 2.9% y-o-y. Over the period under review, the average export prices for frozen fish attained their maximum at $2,628 per tonne in 2014; afterwards, it flattened through to 2018.

Prices varied noticeably by the country of origin; the country with the highest price was Chile ($5,059 per tonne), while Namibia ($1,334 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other global leaders experienced more modest paces of growth.

Imports by Country

In 2018, China (2.2M tonnes), followed by Thailand (1.4M tonnes), Japan (1.4M tonnes), the U.S. (1M tonnes) and South Korea (0.9M tonnes) were the largest importers of frozen fish, together making up 40% of total imports. The following importers – Viet Nam (706K tonnes), Nigeria (581K tonnes), Spain (515K tonnes), the Netherlands (470K tonnes), Germany (436K tonnes), Cameroon (404K tonnes) and Russia (371K tonnes) – together made up 20% of total imports.

From 2014 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Viet Nam, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest frozen fish importing markets worldwide were Japan ($6B), the U.S. ($5B) and China ($4B), together comprising 34% of global imports. Thailand, South Korea, Viet Nam, Germany, Spain, the Netherlands, Russia, Nigeria and Cameroon lagged somewhat behind, together accounting for a further 29%.

Import Prices by Country

The average frozen fish import price stood at $2,582 per tonne in 2018, picking up by 2.2% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the U.S. ($5,112 per tonne), while Nigeria ($839 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

A Comprehensive Guide for Successfully Entering the European Union Market with Frozen Fish

Frozen Fish Trade 2014-2018

Exports by Country

Export Prices by Country

Imports by Country

Import Prices by Country

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