China: Smoked Salmon Market 2024

Smoked Salmon Market Size in China

The Chinese smoked salmon market shrank to $X in 2022, leveling off at the previous year. Over the period under review, the total consumption indicated a remarkable 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, consumption increased by +1.0% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Smoked Salmon Production in China

In value terms, smoked salmon production reduced modestly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 30%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Smoked Salmon Exports

Exports from China

In 2022, the amount of smoked pacific, atlantic and danube salmon exported from China reduced markedly to X tons, shrinking by -32.6% compared with 2021 figures. Overall, exports, however, showed a noticeable expansion. The growth pace was the most rapid in 2014 with an increase of 291% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, smoked salmon exports reduced to $X in 2022. Over the period under review, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 250%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for smoked salmon exports from China, accounting for a 45% share of total exports. Moreover, smoked salmon exports to Canada exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by Indonesia (X tons), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+13.4% per year) and Indonesia (0.0% per year).

In value terms, Canada ($X) remains the key foreign market for smoked pacific, atlantic and danube salmon exports from China, comprising 46% of total exports. The second position in the ranking was taken by Japan ($X), with a 22% share of total exports. It was followed by Indonesia, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+19.4% per year) and Indonesia (0.0% per year).

Export Prices by Country

In 2022, the average smoked salmon export price amounted to $X per ton, picking up by 31% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and Canada ($X per ton), while the average price for exports to Singapore ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into China

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were imported into China; with a decrease of -56.2% compared with the year before. Overall, imports recorded a sharp slump. The growth pace was the most rapid in 2017 when imports increased by 106% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, smoked salmon imports shrank remarkably to $X in 2022. In general, imports saw a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of 160%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The UK (X tons), Germany (X kg) and New Zealand (X kg) were the main suppliers of smoked salmon imports to China.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +24.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of smoked pacific, atlantic and danube salmon to China, comprising 64% of total imports. The second position in the ranking was taken by Germany ($X), with a 31% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the UK totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+29.1% per year) and New Zealand (+22.1% per year).

Import Prices by Country

In 2022, the average smoked salmon import price amounted to $X per ton, growing by 25% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked salmon import price increased by +68.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 35%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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