Europe: Smoked Salmon Market 2024

Smoked Salmon Market Size in Europe

In 2022, the Europe smoked salmon market increased by 3.3% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Smoked Salmon Production in Europe

In value terms, smoked salmon production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 33%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Smoked Salmon Exports

Exports in Europe

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were exported in Europe; falling by -4.8% compared with 2021 figures. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 11%. As a result, the exports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, smoked salmon exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +5.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 23%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Poland represented the largest exporting country with an export of about X tons, which finished at 45% of total exports. Lithuania (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Germany (11%), Denmark (7.4%) and the Netherlands (7%). The following exporters - Belgium (X tons) and Greece (X tons) - each accounted for a 5.4% 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 Europe, with a CAGR of +12.7% from 2012-2022. Greece and Denmark experienced a relatively flat trend pattern. While the share of the Netherlands (+3.1 p.p.), Poland (+2.9 p.p.), Germany (+1.9 p.p.) and Belgium (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Denmark (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest smoked salmon supplier in Europe, comprising 43% of total exports. The second position in the ranking was held by Lithuania ($X), with a 12% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Poland amounted to +6.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Lithuania (+8.9% per year) and Germany (+7.0% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, growing by 7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2017 when the export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat 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 Europe

In 2022, overseas purchases of smoked pacific, atlantic and danube salmon increased by 2.2% to X tons, rising for the second consecutive year after four years of decline. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 11% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, smoked salmon imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 19% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; afterwards, it flattened through to 2022.

Imports by Country

Germany (X tons) and Italy (X tons) represented the largest importers of smoked pacific, atlantic and danube salmon in 2022, recording near 29% and 20% of total imports, respectively. France (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Greece (6.8%) and Belgium (6.5%). Switzerland (X tons), Austria (X tons), Denmark (X tons), the Netherlands (X tons), Portugal (X tons), the UK (X tons), Sweden (X tons) and Spain (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Greece (with a CAGR of +19.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest smoked salmon importing markets in Europe were Germany ($X), Italy ($X) and France ($X), with a combined 64% share of total imports. Belgium, Switzerland, Greece, Austria, Denmark, the UK, the Netherlands, Sweden, Spain and Portugal lagged somewhat behind, together comprising a further 31%.

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

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, with an increase of 4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 when the import price increased by 18%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 the UK ($X per ton), while Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform