Belgium: Preserved Sardines Market 2024

Preserved Sardines Market Size in Belgium

In 2022, the Belgian preserved sardines market decreased by -3.1% to $X, falling for the third consecutive year after four years of growth. Over the period under review, consumption continues to indicate a perceptible reduction. Preserved sardines consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Preserved Sardines Production in Belgium

In value terms, preserved sardines production fell slightly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 37% against the previous year. Preserved sardines production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Preserved Sardines Exports

Exports from Belgium

In 2022, shipments abroad of sardines (prepared or preserved) decreased by -44.6% to X tons, falling for the second consecutive year after five years of growth. Overall, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2013 with an increase of 145% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, preserved sardines exports contracted remarkably to $X in 2022. In general, exports saw a noticeable downturn. The growth pace was the most rapid in 2013 with an increase of 147%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons), Luxembourg (X tons) and France (X tons) were the main destinations of preserved sardines exports from Belgium, together accounting for 80% of total exports. The Netherlands, Democratic Republic of the Congo, Germany and the United States lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +142.7%), while the other leaders experienced more modest paces of growth.

In value terms, Luxembourg ($X), France ($X) and Romania ($X) were the largest markets for preserved sardines exported from Belgium worldwide, together accounting for 82% of total exports. The Netherlands, the United States, Germany and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 14%.

The United States, with a CAGR of +119.2%, recorded the highest growth rate of the value of exports, in terms of 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

The average preserved sardines export price stood at $X per ton in 2022, with an increase of 9.5% against the previous year. In general, the export price, however, continues to indicate a slight reduction. The growth pace was the most rapid in 2021 when the average export price increased by 26%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+3.7%), while the prices for the other major destinations experienced a decline.

Preserved Sardines Imports

Imports into Belgium

In 2022, the amount of sardines (prepared or preserved) imported into Belgium fell to X tons, shrinking by -9.3% on the previous year's figure. In general, imports saw a slight contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, preserved sardines imports dropped to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 33%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Portugal (X tons), Morocco (X tons) and the Netherlands (X tons) were the main suppliers of preserved sardines imports to Belgium, together comprising 73% of total imports. France, Italy, Germany and Latvia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of +38.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sardines suppliers to Belgium were Portugal ($X), Morocco ($X) and France ($X), with a combined 75% share of total imports. The Netherlands, Italy, Latvia and Germany lagged somewhat behind, together accounting for a further 23%.

Latvia, with a CAGR of +39.6%, 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 more modest paces of growth.

Import Prices by Country

The average preserved sardines import price stood at $X per ton in 2022, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2016 an increase of 21%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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