Croatia: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Croatia

For the fourth consecutive year, the Croatian dried or smoked fish market recorded decline in sales value, which decreased by -95.2% to $X in 2021. In general, consumption recorded a dramatic shrinkage. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Dried Or Smoked Fish in Croatia

In value terms, dried or smoked fish production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +89.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. Over the period under review, production attained the maximum level in 2021 and is likely to continue growth in the immediate term.

Exports of Dried Or Smoked Fish

Exports from Croatia

In 2021, the amount of dried or smoked fish exported from Croatia totaled X tons, surging by 11% against the year before. Overall, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, dried or smoked fish exports skyrocketed to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.3% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Albania (X tons) was the main destination for dried or smoked fish exports from Croatia, accounting for a 67% share of total exports. Moreover, dried or smoked fish exports to Albania exceeded the volume sent to the second major destination, Italy (X tons), fivefold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Albania amounted to +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-10.9% per year) and Bosnia and Herzegovina (+59.6% per year).

In value terms, the largest markets for dried or smoked fish exported from Croatia were Albania ($X), Italy ($X) and Spain ($X), with a combined 93% share of total exports.

Spain, with a CAGR of +46.4%, saw the highest rates of growth with regard to 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 dried or smoked fish export price stood at $X per ton in 2021, increasing by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.7%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports into Croatia

In 2021, the amount of dried or smoked fish imported into Croatia soared to X tons, surging by 67% on 2020. Over the period under review, imports recorded prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 97% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, dried or smoked fish imports surged to $X in 2021. Overall, imports saw a buoyant 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 supplier of dried or smoked fish to Croatia, with a 43% share of total imports. Moreover, dried or smoked fish imports from Spain exceeded the figures recorded by the second-largest supplier, Bosnia and Herzegovina (X tons), threefold. The third position in this ranking was taken by Argentina (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +139.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (+5.8% per year) and Argentina (+183.6% per year).

In value terms, Serbia ($X), Spain ($X) and Denmark ($X) constituted the largest dried or smoked fish suppliers to Croatia, together comprising 50% of total imports. Germany, Bosnia and Herzegovina, Albania, Italy, Sweden and Argentina lagged somewhat behind, together accounting for a further 48%.

Argentina, with a CAGR of +119.4%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average dried or smoked fish import price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced curtailment. The growth pace was the most rapid in 2013 when the average import price increased by 25%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 Bosnia and Herzegovina (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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