India: Smoked Salmon Market 2024

Smoked Salmon Market Size in India

The Indian smoked salmon market fell to $X in 2022, remaining stable against the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.1% against 2019 indices. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Smoked Salmon Production in India

In value terms, smoked salmon production shrank modestly to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 36% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Smoked Salmon Exports

Exports from India

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were exported from India; declining by -36.2% against 2021 figures. In general, exports recorded a significant contraction. The pace of growth was the most pronounced in 2015 with an increase of 2,142% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, smoked salmon exports shrank rapidly to $X in 2022. Overall, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 2,698%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X tons) was the main destination for smoked salmon exports from India, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Switzerland was relatively modest.

In value terms, Switzerland ($X) emerged as the key foreign market for smoked pacific, atlantic and danube salmon exports from India.

From 2012 to 2022, the average annual growth rate of value to Switzerland was relatively modest.

Export Prices by Country

The average smoked salmon export price stood at $X per ton in 2022, shrinking by -8.5% against the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2019 when the average export price increased by 96% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for Switzerland.

From 2012 to 2022, the rate of growth in terms of prices for Luxembourg amounted to +372.1% per year.

Smoked Salmon Imports

Imports into India

In 2022, overseas purchases of smoked pacific, atlantic and danube salmon were finally on the rise to reach X tons after two years of decline. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 493% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, smoked salmon imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 476%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Denmark (X tons) constituted the largest smoked salmon supplier to India, with a 55% share of total imports. Moreover, smoked salmon imports from Denmark exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Norway (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Denmark amounted to +31.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+37.6% per year) and Norway (+39.7% per year).

In value terms, Denmark ($X), Malaysia ($X) and Norway ($X) were the largest smoked salmon suppliers to India, together accounting for 96% of total imports.

Norway, with a CAGR of +50.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average smoked salmon import price stood at $X per ton in 2022, jumping by 53% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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