Greece: Preserved Sardines Market 2024

Preserved Sardines Market Size in Greece

The Greek preserved sardines market reached $X in 2022, remaining stable against the previous year. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.3% against 2016 indices. Preserved sardines consumption peaked in 2022 and is likely to see steady growth in the near future.

Preserved Sardines Production in Greece

In value terms, preserved sardines production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 53%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from Greece

Preserved sardines exports from Greece soared to X tons in 2022, jumping by 68% on 2021. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 83%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved sardines exports skyrocketed to $X in 2022. Over the period under review, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.7% against 2020 indices. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Albania (X tons), Cyprus (X tons) and Germany (X tons) were the main destinations of preserved sardines exports from Greece, with a combined 91% share of total exports. The United States, Belgium, Romania and Italy lagged somewhat behind, together accounting for a further 4.8%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +32.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved sardines exported from Greece were Albania ($X), Cyprus ($X) and Germany ($X), with a combined 88% share of total exports. The United States, Belgium, Romania and Italy lagged somewhat behind, together comprising a further 6.4%.

In terms of the main countries of destination, Belgium, with a CAGR of +28.4%, recorded the highest rates of growth with regard to 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

The average preserved sardines export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2013 an increase of 66% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Greece

In 2022, purchases abroad of sardines (prepared or preserved) increased by 13% to X tons, rising for the third consecutive year after two years of decline. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 59%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, preserved sardines imports surged to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +12.0% 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 +74.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 74% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Morocco (X tons) constituted the largest preserved sardines supplier to Greece, accounting for a 63% share of total imports. Moreover, preserved sardines imports from Morocco exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was held by Croatia (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Morocco stood at +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+51.6% per year) and Croatia (+6.7% per year).

In value terms, the largest preserved sardines suppliers to Greece were Morocco ($X), the Netherlands ($X) and Croatia ($X), together accounting for 94% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +53.0%, saw the highest rates of growth with regard to 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

The average preserved sardines import price stood at $X per ton in 2022, growing by 2.9% against the previous year. Overall, the import price, however, showed a slight contraction. The growth pace was the most rapid in 2013 when the average import price increased by 9.5% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Croatia ($X per ton) and Latvia ($X per ton), while the price for Morocco ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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