EU: Smoked Salmon Market 2024

Smoked Salmon Market Size in the EU

In 2022, the EU smoked salmon market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2014; afterwards, it flattened through to 2022.

Smoked Salmon Production in the EU

In value terms, smoked salmon production expanded remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2014; afterwards, it flattened through to 2022.

Smoked Salmon Exports

Exports in the EU

After four years of growth, overseas shipments of smoked pacific, atlantic and danube salmon decreased by -5.2% to X tons in 2022. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 12%. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, smoked salmon exports totaled $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.1% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Poland was the key exporter of smoked pacific, atlantic and danube salmon in the European Union, with the volume of exports finishing at X tons, which was near 47% of total exports in 2022. Lithuania (X tons) ranks second in terms of the total exports with a 13% share, followed by Germany (12%), Denmark (7.7%) and the Netherlands (7.3%). The following exporters - Belgium (X tons) and Greece (X tons) - each finished at a 5.7% share of total exports.

Exports from Poland increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Belgium (+12.7%), the Netherlands (+9.1%), Germany (+4.9%) and Lithuania (+4.2%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +12.7% from 2012-2022. Greece and Denmark experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Netherlands, Belgium and Germany increased by +3, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest smoked salmon supplier in the European Union, comprising 45% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 13% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland stood at +6.7%. In the other countries, the average annual rates were as follows: Lithuania (+8.9% per year) and Germany (+7.0% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, picking up by 7.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2017 an increase of 18%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Belgium ($X per ton) and Greece ($X per ton), while Poland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.6%), while the other leaders experienced more modest paces of growth.

Smoked Salmon Imports

Imports in the EU

In 2022, overseas purchases of smoked pacific, atlantic and danube salmon increased by 3.6% to X tons, rising for the second year in a row after four years of decline. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 12% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, smoked salmon imports totaled $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 20% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Germany (X tons) and Italy (X tons) represented roughly 53% of total imports in 2022. France (X tons) held the next position in the ranking, followed by Greece (X tons) and Belgium (X tons). All these countries together took near 28% share of total imports. The following importers - Austria (X tons) and Denmark (X tons) - each recorded a 5.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +19.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest smoked salmon importing markets in the European Union were Germany ($X), Italy ($X) and France ($X), with a combined 69% share of total imports. Belgium, Greece, Austria and Denmark lagged somewhat behind, together comprising a further 18%.

Among the main importing countries, Greece, with a CAGR of +15.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, picking up by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2017 an increase of 17%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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