Croatia: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Croatia

In 2021, the Croatian dried or salted fish market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a perceptible reduction. Dried or salted fish consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Dried Or Salted Fish in Croatia

In value terms, dried or salted fish production surged to $X in 2021 estimated in export price. Overall, production, however, showed a mild increase. The pace of growth appeared the most rapid in 2020 with an increase of 98%. Over the period under review, production reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Exports of Dried Or Salted Fish

Exports from Croatia

Dried or salted fish exports from Croatia stood at X tons in 2021, with an increase of 3.1% against the previous year's figure. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 57% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, dried or salted fish exports rose notably to $X in 2021. The total export value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 47%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Albania (X tons) was the main destination for dried or salted fish exports from Croatia, accounting for a 76% share of total exports. Moreover, dried or salted fish exports to Albania exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), sixfold. Italy (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Albania stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+71.0% per year) and Italy (-15.2% per year).

In value terms, Albania ($X) remains the key foreign market for dried or salted fish exports from Croatia, comprising 74% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by Bosnia and Herzegovina, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Albania stood at +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-8.1% per year) and Bosnia and Herzegovina (+49.0% per year).

Export Prices by Country

The average dried or salted fish export price stood at $X per ton in 2021, with an increase of 2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2013 an increase of 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Italy (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports into Croatia

For the third consecutive year, Croatia recorded growth in purchases abroad of dried or salted fish, which increased by 48% to X tons in 2021. Over the period under review, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2020 when imports increased by 248%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, dried or salted fish imports skyrocketed to $X in 2021. Overall, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest dried or salted fish supplier to Croatia, accounting for a 62% share of total imports. Moreover, dried or salted fish imports from Spain exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold. Denmark (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +51.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+183.6% per year) and Denmark (+2.9% per year).

In value terms, the largest dried or salted fish suppliers to Croatia were Spain ($X), Denmark ($X) and Sweden ($X), with a combined 71% share of total imports. Italy, Germany, Argentina and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further 29%.

Argentina, with a CAGR of +119.4%, recorded 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 dried or salted fish import price stood at $X per ton in 2021, reducing by -3.4% against the previous year. Over the period under review, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 19%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sweden ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :