Denmark: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Denmark

In 2021, the Danish preserved anchovies market decreased by -3.9% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.5% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2020, and then fell modestly in the following year.

Preserved Anchovies Production in Denmark

In value terms, preserved anchovies production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, showed a strong expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 47%. Over the period under review, production reached the maximum level at $X in 2020, and then contracted in the following year.

Preserved Anchovies Exports

Exports from Denmark

In 2021, shipments abroad of anchovies (prepared or preserved) decreased by -53.3% to X tons, falling for the fourth year in a row after three years of growth. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 1,208%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved anchovies exports fell significantly to $X in 2021. In general, exports saw a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 923%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X tons) was the main destination for preserved anchovies exports from Denmark, with a 62% share of total exports. Moreover, preserved anchovies exports to Norway exceeded the volume sent to the second major destination, Faroe Islands (X kg), fourfold. The third position in this ranking was taken by Sweden (X kg), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Norway amounted to -19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+9.3% per year) and Sweden (-10.6% per year).

In value terms, the largest markets for preserved anchovies exported from Denmark were Norway ($X), Faroe Islands ($X) and Iceland ($X), together comprising 79% of total exports.

Iceland, with a CAGR of +86.7%, saw the highest rates of growth with regard to 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 anchovies export price stood at $X per ton in 2021, with an increase of 23% against the previous year. Overall, the export price recorded a prominent expansion. The growth pace was the most rapid in 2014 when the average export price increased by 111%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Faroe Islands ($X per ton), while the average price for exports to Norway ($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 Norway (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Denmark

In 2021, supplies from abroad of anchovies (prepared or preserved) increased by 9.5% to X tons, rising for the second year in a row after four years of decline. Overall, imports posted a strong expansion. The growth pace was the most rapid in 2014 with an increase of 78%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 82%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Spain (X tons) and the Netherlands (X kg) were the main suppliers of preserved anchovies imports to Denmark, together comprising 100% of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +18.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Spain ($X) and the Netherlands ($X) appeared to be the largest preserved anchovies suppliers to Denmark, with a combined 100% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +16.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, rising by 37% against the previous year. Over the period under review, the import price, however, showed a drastic downturn. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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