Australia: Preserved Salmon Market 2024

Preserved Salmon Market Size in Australia

The Australian preserved salmon market reduced slightly to $X in 2021, with a decrease of -1.7% against the previous year. Overall, consumption recorded a perceptible reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Preserved Salmon Production in Australia

In value terms, preserved salmon production stood at $X in 2021 estimated in export price. Overall, production continues to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2020 with a decrease of 99.9% against the previous year. Preserved salmon production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Salmon Exports

Exports from Australia

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -50% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, saw moderate growth. The pace of growth was the most pronounced in 2013 with an increase of 507%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports contracted remarkably to $X in 2021. In general, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 545%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for preserved salmon exports from Australia, accounting for a 67% share of total exports. Moreover, preserved salmon exports to New Zealand exceeded the volume sent to the second major destination, Singapore (X tons), sevenfold. The third position in this ranking was taken by the Philippines (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand amounted to -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+38.2% per year) and the Philippines (+45.0% per year).

In value terms, New Zealand ($X) remains the key foreign market for salmon (prepared or preserved) exports from Australia, comprising 41% of total exports. The second position in the ranking was held by Singapore ($X), with a 17% share of total exports. It was followed by Hong Kong SAR, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to New Zealand totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+38.4% per year) and Hong Kong SAR (+7.7% per year).

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, with an increase of 38% against the previous year. Overall, the export price posted strong growth. The most prominent rate of growth was recorded in 2018 an increase of 47% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Salmon Imports

Imports into Australia

In 2021, preserved salmon imports into Australia reduced to X tons, with a decrease of -12% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 13%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, preserved salmon imports reduced to $X in 2021. In general, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 19% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Thailand (X tons) and Poland (X tons) were the main suppliers of preserved salmon imports to Australia, together accounting for 91% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +126.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Thailand ($X) and Poland ($X) appeared to be the largest preserved salmon suppliers to Australia, with a combined 91% share of total imports.

Poland, with a CAGR of +128.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average preserved salmon import price stood at $X per ton in 2021, with an increase of 5.7% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved salmon import price increased by +86.3% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 30% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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