Belgium: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Belgium

The Belgian preserved anchovies market dropped notably to $X in 2021, with a decrease of -15.4% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Preserved Anchovies Production in Belgium

In value terms, preserved anchovies production fell notably to $X in 2021 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +22.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. As a result, production reached the peak level of $X, and then declined markedly in the following year.

Preserved Anchovies Exports

Exports from Belgium

Preserved anchovies exports from Belgium surged to X tons in 2021, increasing by 24% against the year before. Overall, exports enjoyed a strong expansion. The growth pace was the most rapid in 2019 with an increase of 33%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, preserved anchovies exports surged to $X in 2021. In general, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of preserved anchovies exports from Belgium, with a combined 86% share of total exports. The UK, Romania and Luxembourg lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +39.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and the UK ($X) appeared to be the largest markets for preserved anchovies exported from Belgium worldwide, with a combined 83% share of total exports.

The UK, with a CAGR of +44.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved anchovies export price amounted to $X per ton, picking up by 7.3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 15%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Germany ($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 the UK (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Belgium

After two years of decline, supplies from abroad of anchovies (prepared or preserved) increased by 7.7% to X tons in 2021. Over the period under review, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 51%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, preserved anchovies imports expanded slightly to $X in 2021. Overall, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.0% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 31% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Bulgaria (X tons) constituted the largest supplier of preserved anchovies to Belgium, with a 43% share of total imports. Moreover, preserved anchovies imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bulgaria stood at +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+45.0% per year) and Spain (+20.2% per year).

In value terms, Bulgaria ($X), Spain ($X) and Peru ($X) were the largest preserved anchovies suppliers to Belgium, with a combined 78% share of total imports. These countries were followed by Italy, the Netherlands, France and Morocco, which together accounted for a further 20%.

In terms of the main suppliers, the Netherlands, with a CAGR of +43.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, with a decrease of -2.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 12%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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 the Netherlands ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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