Frozen fish fillets market in Finland

Earlier Report Observations

The market volume for frozen fish fillets in Finland experienced significant fluctuations between 2018 and 2023. After a sharp decline to 3 643 t in 2019 from 5 309 t the previous year, consumption recovered to 4 457 t in 2020 before dipping again to 4 187 t in 2021. A strong rebound followed in 2022, with the market reaching 5 129 t, but it contracted to 4 637 t in 2023.

In 2024, the market volume grew by 7.5% to 4 985 t. This increase was supported by a slowdown in inflation, which improved consumers' purchasing power and boosted demand for frozen fish products. Simultaneously, food fish production expanded despite a reduction in the number of farming companies, indicating greater efficiency and contributing to the availability of raw materials for fillet processing.

Production frozen fish fillets in Finland

In value, 2017-2020, K $ US

Finland's frozen fish fillet production experienced a two-year growth period before declining. In 2019, output reached its peak at 11 137 thousand US dollars, but then fell by 3.1% in 2020 to 10 795 thousand US dollars. Over the entire period from 2017 to 2020, production increased by 23.6%, which translates to an average annual growth rate of 7.3%. The most significant year-on-year increase occurred in 2018, when production rose by 25.0%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, t

The market showed considerable instability throughout the observed period. Production volume hit its lowest point in 2017, then peaked in 2019 at 1 856 tonnes, representing a 2.1-fold increase from the trough. In 2020, output dropped by 10.1% compared to the previous year, totaling 1 668 tonnes. The largest annual increase was recorded in 2018, when production surged by 99.7%.

Annual dynamics of production in Finland in kind, 2017-2020, t

Exports frozen fish fillets from Finland

Exports in kind, t

Export volumes displayed significant volatility during these years. In 2019, shipments reached their minimum at just 21 tonnes, but then skyrocketed by 2,079.2% in 2020 to reach 468 tonnes. This dramatic swing created a 22-fold difference between the low in 2019 and the high in 2020. The most substantial decline occurred in 2019, when exports fell by 93.4%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Estonia consistently remained Finland's primary export market for frozen fish fillets, accounting for 86.8% of total export volume. The remaining 13.2% was distributed among numerous other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

Export values exhibited considerable volatility throughout this period. In 2019, export revenue hit its lowest point at 584 thousand US dollars, but then surged by 510.9% in 2020 to reach 3 569 thousand US dollars. This created a 6.1-fold difference between the low in 2019 and the high in 2020. The most significant decline occurred in 2019, when export value dropped by 80.7%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

During the 2017-2020 period, Estonia dominated Finland's frozen fish fillet exports in value terms, absorbing 81.2% of total export revenue. The remaining 18.8% was distributed among a large number of smaller trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports frozen fish fillets to Finland

Imports in kind, t

Import volumes showed notable volatility during these years. In 2019, imports reached their lowest point at 1 809 tonnes, but then rebounded by 80.1% in 2020 to reach 3 258 tonnes. The peak occurred earlier in 2017, creating a 2.3-fold difference between the high in 2017 and the low in 2019. The most substantial decline was recorded in 2019, when imports fell by 53.4%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Poland, Denmark, and China were significant suppliers of frozen fish fillets to Finland, accounting for 26.3%, 11.8%, and 9.4% of import volume respectively. However, their combined share represented only 47.5% of total imports, with the remaining 52.5% distributed among numerous other trading partners.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

Finland's frozen fish fillet imports experienced two years of growth before declining. In 2019, import value reached its peak at 23 185 thousand US dollars, but then fell by 7.0% in 2020 to 21 569 thousand US dollars. The most significant annual increase occurred in 2018, when import value rose by 5.0%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

During the 2017-2020 period, Finland's import market for frozen fish fillets was quite diversified. Poland, Denmark, and Norway were the leading suppliers in value terms, accounting for 20.6%, 12.7%, and 11.8% of import value respectively. However, their combined share represented only 45.1% of total imports, with the remaining 54.9% coming from a wide range of other countries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020