EU: Smoked Herring Market 2024

Smoked Herring Market Size in the EU

In 2022, the EU smoked herring market increased by 6.7% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Smoked Herring Production in the EU

In value terms, smoked herring production reduced to $X in 2022 estimated in export price. Overall, production saw a deep reduction. The pace of growth appeared the most rapid in 2021 when the production volume increased by 66%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Smoked Herring Exports

Exports in the EU

In 2022, approx. X tons of smoked herrings were exported in the European Union; reducing by -24% compared with the previous year's figure. Overall, exports showed a pronounced contraction. The growth pace was the most rapid in 2013 when exports increased by 29%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, smoked herring exports declined dramatically to $X in 2022. Over the period under review, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2013 when exports increased by 35%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) and Lithuania (X tons) were the main exporters of smoked herrings in 2022, amounting to near 35% and 26% of total exports, respectively. It was distantly followed by Greece (X tons), France (X tons) and Poland (X tons), together comprising a 28% share of total exports. Germany (X tons) and Romania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Germany (with a CAGR of +8.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the Netherlands ($X), Lithuania ($X) and Greece ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 72% share of total exports. France, Poland, Germany and Romania lagged somewhat behind, together accounting for a further 23%.

Germany, with a CAGR of +8.7%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, waning by -2.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 4.7%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+0.1%), while the other leaders experienced mixed trends in the export price figures.

Smoked Herring Imports

Imports in the EU

In 2022, overseas purchases of smoked herrings increased by 48% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.7% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 57% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, smoked herring imports rose significantly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 47% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

France prevails in imports structure, recording X tons, which was approx. 80% of total imports in 2022. Italy (X tons) took an 8.2% share (based on physical terms) of total imports, which put it in second place, followed by Germany (5.8%). Greece (X tons) followed a long way behind the leaders.

France was also the fastest-growing in terms of the smoked herrings imports, with a CAGR of +7.7% from 2012 to 2022. Italy (-2.6%), Germany (-6.2%) and Greece (-9.5%) illustrated a downward trend over the same period. France (+35 p.p.) significantly strengthened its position in terms of the total imports, while Italy, Greece and Germany saw its share reduced by -4.3%, -6.1% and -7.1% from 2012 to 2022, respectively.

In value terms, France ($X) constitutes the largest market for imported smoked herrings in the European Union, comprising 66% of total imports. The second position in the ranking was taken by Italy ($X), with a 15% share of total imports. It was followed by Germany, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in France amounted to +4.4%. In the other countries, the average annual rates were as follows: Italy (-2.8% per year) and Germany (-6.2% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, declining by -27% against the previous year. Overall, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 79%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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