Europe: Preserved Salmon Market 2024

Preserved Salmon Market Size in Europe

The Europe preserved salmon market shrank modestly to $X in 2021, approximately reflecting the previous year. In general, consumption, however, continues to indicate prominent growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Preserved Salmon Production in Europe

In value terms, preserved salmon production expanded remarkably to $X in 2021 estimated in export price. The total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -38.3% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 30%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Preserved Salmon Exports

Exports in Europe

In 2021, exports of salmon (prepared or preserved) in Europe soared to X tons, increasing by 27% on the previous year. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.6% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved salmon exports surged to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland represented the main exporter of salmon (prepared or preserved) in Europe, with the volume of exports amounting to X tons, which was approx. 37% of total exports in 2021. It was distantly followed by Germany (X tons), Denmark (X tons) and France (X tons), together creating a 37% share of total exports. Belgium (X tons), the Netherlands (X tons), Latvia (X tons), Ireland (X tons), Sweden (X tons) and Portugal (X tons) followed a long way behind the leaders.

Exports from Poland increased at an average annual rate of +14.5% from 2012 to 2021. At the same time, Portugal (+23.6%), the Netherlands (+16.4%), Ireland (+15.8%), Denmark (+12.1%), Latvia (+10.8%), Germany (+9.7%), France (+6.9%), Sweden (+4.0%) and Belgium (+1.0%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing exporter exported in Europe, with a CAGR of +23.6% from 2012-2021. While the share of Poland (+20 p.p.), Germany (+5.5 p.p.), Denmark (+5.2 p.p.), the Netherlands (+2.3 p.p.), Ireland (+1.9 p.p.) and Portugal (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belgium (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest preserved salmon supplier in Europe, comprising 40% of total exports. The second position in the ranking was taken by Germany ($X), with an 18% share of total exports. It was followed by Denmark, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Poland totaled +12.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+10.5% per year) and Denmark (+11.5% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, approximately reflecting the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 8.2%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+9.1%), while the other leaders experienced more modest paces of growth.

Preserved Salmon Imports

Imports in Europe

After three years of growth, purchases abroad of salmon (prepared or preserved) decreased by -5.4% to X tons in 2021. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.8% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 20% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, preserved salmon imports rose modestly to $X in 2021. Over the period under review, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 29% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Germany was the key importer of salmon (prepared or preserved) in Europe, with the volume of imports recording X tons, which was approx. 43% of total imports in 2021. It was distantly followed by the UK (X tons), France (X tons) and Belgium (X tons), together comprising a 28% share of total imports. Italy (X tons), the Netherlands (X tons), Sweden (X tons), Slovakia (X tons), Ireland (X tons), Denmark (X tons) and Austria (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved salmon imports into Germany stood at +25.4%. At the same time, Slovakia (+46.3%), Denmark (+16.1%), Sweden (+11.1%), Italy (+10.3%), France (+6.3%), Austria (+4.9%) and Belgium (+4.2%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in Europe, with a CAGR of +46.3% from 2012-2021. By contrast, the UK (-4.4%), the Netherlands (-4.7%) and Ireland (-4.7%) illustrated a downward trend over the same period. Germany (+33 p.p.) and Slovakia (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Ireland, the Netherlands and the UK saw its share reduced by -4%, -5.9% and -26.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported salmon (prepared or preserved) in Europe, comprising 46% of total imports. The second position in the ranking was held by the UK ($X), with a 16% share of total imports. It was followed by France, with a 5.7% share.

In Germany, preserved salmon imports increased at an average annual rate of +30.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the UK (-2.6% per year) and France (+9.5% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, increasing by 7.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2017 when the import price increased by 13% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform