Belgium: Preserved Herring Market 2024

Preserved Herring Market Size in Belgium

In 2021, the Belgian preserved herring market decreased by -15.5% to $X, falling for the second year in a row after three years of growth. Overall, consumption showed a mild downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Preserved Herring Production in Belgium

In value terms, preserved herring production reduced rapidly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 25%. Preserved herring production peaked at $X in 2020, and then declined markedly in the following year.

Preserved Herring Exports

Exports from Belgium

In 2021, overseas shipments of herrings (prepared or preserved) increased by 343% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved herring exports soared to $X in 2021. In general, exports recorded a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for preserved herring exports from Belgium, with a 83% share of total exports. Moreover, preserved herring exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. The third position in this ranking was taken by Luxembourg (X tons), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +2,597.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-4.0% per year) and Luxembourg (+2.3% per year).

In value terms, the UK ($X) emerged as the key foreign market for herrings (prepared or preserved) exports from Belgium, comprising 72% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total exports. It was followed by Luxembourg, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +1,956.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-1.6% per year) and Luxembourg (+1.2% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, dropping by -27.7% against the previous year. Overall, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2018 an increase of 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($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 Germany (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Belgium

Preserved herring imports into Belgium skyrocketed to X tons in 2021, with an increase of 36% against the year before. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 46%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports reached $X in 2021. In general, imports, however, showed a mild reduction. The growth pace was the most rapid in 2019 when imports increased by 30% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Sweden (X tons) were the main suppliers of preserved herring imports to Belgium, with a combined 98% share of total imports. These countries were followed by Poland, which accounted for a further 1.6%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +39.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved herring suppliers to Belgium were the Netherlands ($X), Germany ($X) and Sweden ($X), together comprising 97% of total imports. These countries were followed by Poland, which accounted for a further 1.6%.

Poland, with a CAGR of +28.1%, saw the highest rates of growth with regard to 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 herring import price stood at $X per ton in 2021, declining by -16.9% against the previous year. Overall, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 29% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Sweden ($X per ton) and Poland ($X per ton), while the price for Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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