Romanian fish market will reach EUR 380 million in 2018, at 7 kg consumption per capita yearly

The local fish market recorded an increase of about 10 percent in the first half of 2018 compared to the same period in 2017, and the current year will end with a higher sales figure of another 10 percent, according to estimates by representatives Alfredo Seafood, a Romanian fish and seafood brand. Thus, the local fish and seafood market would reach almost EUR 380 million, slowing towards 2017.

“2018 brought a moderate increase in consumption of fish, seafood and derived products, but we were expecting it. I think it is very important that the market continues its upward trend over the last five years. We see, however, a slight slowdown in growth, caused by various factors: higher prices for red meat, coupled with the fact that people have grown accustomed to lowering VAT on food from 24% to 9%, which has prompted strong sales in 2015 and 2016. I emphasize that we are talking about a market still in training in Romania, which has a long way to go before maturing. Other barriers include a false perception that fish based preparations would be more difficult to cook. This is an erroneous view, especially because there are now modern processing and packaging technologies that make fish as easy as chicken or pork processed by skin removal, desiccation, threading and slicing, “explained Mihai Cristian Dărmănescu, Alfredo Seafood founder.

According to Alfredo Seafood forecasts, the consumption of fish per capita will be around 7 kilograms per year at the end of the year, an extremely small figure compared to the European average of 23 kilograms per capita.

Salmon will remain one of the leaders of the most consumed fish varieties and in 2018, amid rising imports of fish, seafood and other marine invertebrates. In the first half of the year, salmon led the value ranking, with sales of around EUR 50 million nationwide. The steady increase in salmon consumption in Romania is due to several aspects, including: greater concern for healthy diet and quality of meat that is tasty and easy to prepare. Approximately 20 percent of the Alfredo Seafood portfolio is ultra-fresh and frozen salmon, North Sea (aquaculture) and North Pacific (wild salmon).

Alfredo Seafood ended 2017 with a turnover of EUR 20 million, up 10 percent from 2016, and the first part of 2018 was dedicated to business consolidation by implementing innovative packaging and processing techniques, investments in the range fresh “ready-to-cook” products, technological and logistic improvements, as well as preparation for expansion in the markets of the region: Moldova and Bulgaria.