Belgium: Smoked Salmon Market 2024

Smoked Salmon Market Size in Belgium

The Belgian smoked salmon market shrank notably to $X in 2022, reducing by -28% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Smoked Salmon Production in Belgium

In value terms, smoked salmon production dropped notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 7.3%. Smoked salmon production peaked at $X in 2021, and then reduced dramatically in the following year.

Smoked Salmon Exports

Exports from Belgium

After four years of growth, shipments abroad of smoked pacific, atlantic and danube salmon decreased by -13.4% to X tons in 2022. Over the period under review, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 62%. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, smoked salmon exports declined to $X in 2022. In general, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 50% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

France (X tons), the Netherlands (X tons) and Luxembourg (X tons) were the main destinations of smoked salmon exports from Belgium, together accounting for 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +25.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Luxembourg ($X) appeared to be the largest markets for smoked salmon exported from Belgium worldwide, with a combined 94% share of total exports. Germany and Italy lagged somewhat behind, together comprising a further 3.6%.

Italy, with a CAGR of +29.3%, recorded the highest growth rate of 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

The average smoked salmon export price stood at $X per ton in 2022, growing by 3.9% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 31% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Luxembourg ($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 Germany (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into Belgium

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were imported into Belgium; falling by -30.5% on 2021 figures. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +10.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 60%. As a result, imports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, smoked salmon imports shrank sharply to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 54% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of smoked salmon to Belgium, accounting for a 52% share of total imports. Moreover, smoked salmon imports from Lithuania exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and the Netherlands (+9.0% per year).

In value terms, Lithuania ($X) constituted the largest supplier of smoked pacific, atlantic and danube salmon to Belgium, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Lithuania amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and the Netherlands (+15.9% per year).

Import Prices by Country

The average smoked salmon import price stood at $X per ton in 2022, picking up by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2017 an increase of 30%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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