Italy: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Italy

In 2021, after five years of growth, there was significant decline in the Italian preserved anchovies market, when its value decreased by -51.5% to $X. In general, consumption, however, enjoyed a mild increase. Preserved anchovies consumption peaked at $X in 2020, and then fell rapidly in the following year.

Preserved Anchovies Production in Italy

In value terms, preserved anchovies production fell rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2018 with an increase of 149% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Anchovies Exports

Exports from Italy

In 2021, the amount of anchovies (prepared or preserved) exported from Italy expanded notably to X tons, surging by 9.7% against the previous year's figure. Overall, exports, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 15% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved anchovies exports soared to $X in 2021. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons), Albania (X tons) and the United States (X tons) were the main destinations of preserved anchovies exports from Italy, together accounting for 32% of total exports. Germany, Japan, Russia, Belgium, Canada, Austria, Spain, France, Poland and the UK lagged somewhat behind, together comprising a further 49%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +22.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved anchovies exported from Italy were Albania ($X), the United States ($X) and Australia ($X), together accounting for 32% of total exports. Japan, Germany, Russia, Spain, Austria, Canada, France, Belgium, the UK and Poland lagged somewhat behind, together accounting for a further 49%.

In terms of the main countries of destination, Poland, with a CAGR of +22.5%, saw 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

In 2021, the average preserved anchovies export price amounted to $X per ton, rising by 6.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 14% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Albania (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Italy

In 2021, overseas purchases of anchovies (prepared or preserved) increased by 9.3% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 11% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Morocco (X tons), Albania (X tons) and Tunisia (X tons) were the main suppliers of preserved anchovies imports to Italy, together comprising 83% of total imports. These countries were followed by Peru, Spain and Croatia, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Albania ($X) and Tunisia ($X) were the largest preserved anchovies suppliers to Italy, with a combined 78% share of total imports. These countries were followed by Spain, Peru and Croatia, which together accounted for a further 20%.

Spain, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, remaining stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 when the average import price increased by 16%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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