Ireland: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Ireland

In 2021, after five years of growth, there was decline in the Irish preserved anchovies market, when its value decreased by -4.4% to $X. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +64.3% against 2015 indices. Preserved anchovies consumption peaked at $X in 2020, and then shrank in the following year.

Preserved Anchovies Production in Ireland

In value terms, preserved anchovies production dropped to $X in 2021 estimated in export price. Overall, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +113.5% against 2017 indices. The growth pace was the most rapid in 2018 when the production volume increased by 74% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Preserved Anchovies Exports

Exports from Ireland

After two years of decline, overseas shipments of anchovies (prepared or preserved) increased by 539% to X tons in 2021. Over the period under review, exports saw a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved anchovies exports soared to $X in 2021. In general, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for preserved anchovies exports from Ireland, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at +16.4%.

In value terms, the UK ($X) also remains the key foreign market for anchovies (prepared or preserved) exports from Ireland.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +14.6%.

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, declining by -2.7% against the previous year. Overall, the export price recorded a slight downturn. The pace of growth was the most pronounced in 2017 an increase of 76% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for the UK amounted to -1.6% per year.

Preserved Anchovies Imports

Imports into Ireland

Preserved anchovies imports into Ireland shrank to X tons in 2021, waning by -5.5% on the previous year's figure. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 571%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved anchovies imports reduced to $X in 2021. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 302% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of preserved anchovies to Ireland, with a 67% share of total imports. Moreover, preserved anchovies imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.2% per year) and Germany (+22.6% per year).

In value terms, Spain ($X) constituted the largest supplier of anchovies (prepared or preserved) to Ireland, comprising 74% of total imports. The second position in the ranking was held by France ($X), with a 9.3% share of total imports. It was followed by Portugal, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.3% per year) and Portugal (+165.0% per year).

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, falling by -4.4% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies import price increased by +118.8% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 59% against the previous year. The import price peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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