Europe: Smoked Herring Market 2024

Smoked Herring Market Size in Europe

The Europe smoked herring market shrank slightly to $X in 2022, standing approx. at the previous year. Overall, consumption, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 6.1%. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Smoked Herring Production in Europe

In value terms, smoked herring production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production showed a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 49% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in Europe

In 2022, overseas shipments of smoked herrings decreased by -17.4% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 25%. The volume of export peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, smoked herring exports fell dramatically to $X in 2022. Overall, exports recorded a slight slump. The pace of growth was the most pronounced in 2013 when exports increased by 30%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belarus represented the key exporting country with an export of about X tons, which accounted for 46% of total exports. The Netherlands (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Lithuania (12%) and Greece (6.4%). France (X tons), Russia (X tons) and Poland (X tons) followed a long way behind the leaders.

Belarus was also the fastest-growing in terms of the smoked herrings exports, with a CAGR of +87.5% from 2012 to 2022. At the same time, Russia (+44.7%) and Greece (+3.0%) displayed positive paces of growth. By contrast, Lithuania (-1.8%), Poland (-5.5%), France (-5.6%) and the Netherlands (-6.2%) illustrated a downward trend over the same period. Belarus (+46 p.p.) and Russia (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Poland, France, Lithuania and the Netherlands saw its share reduced by -3.9%, -4.3%, -5.6% and -21.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X), the Netherlands ($X) and Lithuania ($X) were the countries with the highest levels of exports in 2022, with a combined 65% share of total exports.

In terms of the main exporting countries, Belarus, with a CAGR of +79.6%, saw the highest growth rate of 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 2022, the export price in Europe amounted to $X per ton, which is down by -3.4% against the previous year. Overall, the export price saw a noticeable reduction. The pace of growth appeared the most rapid in 2013 an increase of 3.9% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Belarus ($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 Europe

In 2022, smoked herring imports in Europe soared to X tons, with an increase of 28% compared with the previous year. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 51%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, smoked herring imports stood at $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 44%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) represented the major importer of smoked herrings, comprising 67% of total imports. Russia (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Italy (6.9%) and Germany (4.9%). Greece (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to smoked herring imports into France stood at +7.7%. At the same time, Russia (+8.7%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in Europe, with a CAGR of +8.7% from 2012-2022. By contrast, Italy (-2.6%), Germany (-6.2%) and Greece (-9.5%) illustrated a downward trend over the same period. France (+34 p.p.) and Russia (+8.6 p.p.) significantly strengthened its position in terms of the total imports, while Italy, Greece and Germany saw its share reduced by -2.5%, -4.3% and -4.8% from 2012 to 2022, respectively.

In value terms, France ($X) constitutes the largest market for imported smoked herrings in Europe, comprising 57% of total imports. The second position in the ranking was taken by Russia ($X), with a 13% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in France totaled +4.4%. In the other countries, the average annual rates were as follows: Russia (+18.0% per year) and Italy (-2.8% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, reducing by -18.4% against the previous year. In general, the import price saw a slight setback. The most prominent rate of growth was recorded in 2020 an increase of 61%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Russia (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform