December 16, 2024
EU Fish Market report highlights shifts in seafood consumption and trade
The European Commission has published the EU Fish Market report for 2024, detailing the performance of the fishery and aquaculture sector during 2022-2023.
The report highlights significant trends in seafood consumption, trade, and production within the European Union, reflecting broader economic and geopolitical influences.
The report revealed that Europeans are consuming less fresh seafood at home due to rising prices. In 2023, at-home fresh seafood consumption fell sharply, reaching its lowest level since 2019. This marks the end of the positive trend observed during the COVID-19 pandemic, when EU consumers increased their at-home consumption of fresh seafood due to restrictions on the hospitality sector.
The decline in household consumption is linked to economic and geopolitical pressures, which have driven inflation and reduced consumers' purchasing power. Despite buying less, households spent 6% more on fresh fishery and aquaculture products in 2022, continuing a pattern of rising costs since 2018.
The EU's trade balance for seafood also deteriorated during this period. In 2023, the total value of seafood trade in the EU fell by 2%, while the total volume decreased by 4%. Imports of seafood from non-EU countries dropped by 6% in value, amounting to approximately EUR 30 billion (US$31.5 billion), and by volume, falling to 5.9 million tonnes, which is below pre-pandemic levels.
Exports of seafood from the EU to non-EU countries also declined in both value and volume, reflecting broader challenges linked to inflation and the economic climate across the region.
The report indicates a shift in apparent seafood consumption, with aquaculture products gaining a greater share. In 2022, farmed seafood consumption reached 6.82 kg per person, the highest level in the past decade. In contrast, consumption of wild seafood products fell to 16.70 kg per person, marking the lowest level in the same period. Overall apparent consumption of fishery and aquaculture products in 2022 was 1% lower than in 2021.
The European Market Observatory for Fisheries and Aquaculture Products (EUMOFA), the body behind the report, provides market intelligence to support the EU fisheries and aquaculture sector. Its findings are a valuable resource for policymakers, industry stakeholders, and other interested parties, helping to shape decisions in a sector facing complex challenges.
- European Commission
