Denmark: Preserved Herring Market 2024

Preserved Herring Market Size in Denmark

In 2021, the Danish preserved herring market increased by 38% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded prominent growth. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the immediate term.

Preserved Herring Production in Denmark

In value terms, preserved herring production stood at $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. Preserved herring production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Preserved Herring Exports

Exports from Denmark

In 2021, preserved herring exports from Denmark amounted to X tons, approximately reflecting 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; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 13% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved herring exports expanded markedly to $X in 2021. In general, exports, however, recorded a pronounced curtailment. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of preserved herring exports from Denmark, together comprising 89% of total exports. These countries were followed by the UK, Austria, Finland and the Czech Republic, which together accounted for a further 7.6%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +38.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest markets for preserved herring exported from Denmark worldwide, together comprising 87% of total exports. These countries were followed by the UK, Austria, Finland and the Czech Republic, which together accounted for a further 8.9%.

In terms of the main countries of destination, Finland, with a CAGR of +39.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, rising by 10% against the previous year. In general, the export price, however, continues to indicate a perceptible contraction. The growth pace was the most rapid in 2016 an increase of 24% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Finland ($X per ton), while the average price for exports to the Netherlands ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+0.6%), while the prices for the other major destinations experienced a decline.

Preserved Herring Imports

Imports into Denmark

In 2021, purchases abroad of herrings (prepared or preserved) was finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. In general, imports, however, recorded a abrupt slump. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Norway (X tons) constituted the largest preserved herring supplier to Denmark, accounting for a 67% share of total imports. Moreover, preserved herring imports from Norway exceeded the figures recorded by the second-largest supplier, Sweden (X tons), sixfold. The third position in this ranking was held by Iceland (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Norway stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-6.9% per year) and Iceland (+34.6% per year).

In value terms, Norway ($X) constituted the largest supplier of herrings (prepared or preserved) to Denmark, comprising 59% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by Latvia, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value from Norway amounted to -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-3.3% per year) and Latvia (+294.7% per year).

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, growing by 22% against the previous year. In general, the import price, however, recorded a perceptible contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for Iceland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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