Denmark: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Denmark

In 2021, the Danish market for caviar (salmon) and caviar substitutes increased by 239% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, showed a pronounced slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in Denmark

In value terms, caviar (salmon) and caviar substitutes production soared to $X in 2021 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 +64.2% against 2018 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Denmark

In 2021, the amount of caviar (salmon) and caviar substitutes exported from Denmark soared to X tons, surging by 69% against 2020 figures. Overall, exports recorded perceptible growth. The pace of growth appeared the most rapid in 2013 when exports increased by 125%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, caviar (salmon) and caviar substitutes exports surged to $X in 2021. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 122% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for caviar (salmon) and caviar substitutes exports from Denmark, with a 33% share of total exports. Moreover, caviar (salmon) and caviar substitutes exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), threefold. France (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +210.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+45.0% per year) and France (+7.7% per year).

In value terms, South Korea ($X), France ($X) and Germany ($X) appeared to be the largest markets for caviar (salmon) and caviar substitutes exported from Denmark worldwide, with a combined 42% share of total exports.

South Korea, with a CAGR of +325.3%, saw the highest growth rate of 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 export price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, shrinking by -2.5% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, caviar (salmon) and caviar substitutes export price decreased by -22.5% against 2019 indices. The growth pace was the most rapid in 2019 when the average export price increased by 27%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Sweden ($X per ton), while the average price for exports to Kazakhstan ($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 South Korea (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Denmark

Caviar (salmon) and caviar substitutes imports into Denmark fell to X tons in 2021, shrinking by -10.1% against the previous year's figure. In general, imports saw a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 14%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, caviar (salmon) and caviar substitutes imports dropped to $X in 2021. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 19%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Poland (X tons) and Sweden (X tons) were the main suppliers of caviar (salmon) and caviar substitutes imports to Denmark, together accounting for 75% of total imports. The Netherlands, Latvia, Norway, Italy and Iceland lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of +173.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of caviar (salmon) and caviar substitutes to Denmark, comprising 53% of total imports. The second position in the ranking was held by Poland ($X), with a 16% share of total imports. It was followed by Latvia, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-5.0% per year) and Latvia (+195.0% per year).

Import Prices by Country

In 2021, the average import price for caviar (salmon) and caviar substitutes amounted to $X per ton, growing by 3.1% against the previous year. In general, the import price saw a remarkable increase. The growth pace was the most rapid in 2018 an increase of 79%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Iceland ($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 (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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