Italy: Preserved Herring Market 2024

Preserved Herring Market Size in Italy

The Italian preserved herring market reached $X in 2021, approximately equating the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 decreased by +0.5% against 2019 indices. Preserved herring consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Herring Production in Italy

In value terms, preserved herring production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Preserved Herring Exports

Exports from Italy

In 2021, shipments abroad of herrings (prepared or preserved) decreased by -7.1% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of 91%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved herring exports fell slightly to $X in 2021. Over the period under review, exports, however, posted a pronounced increase. The pace of growth appeared the most rapid in 2016 when exports increased by 97%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malta (X tons), Japan (X tons) and Australia (X tons) were the main destinations of preserved herring exports from Italy, with a combined 67% share of total exports. Ethiopia, Germany, Greece, France, Cyprus, Switzerland, Belgium and Austria lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +404.7%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for herrings (prepared or preserved) exports from Italy, comprising 46% of total exports. The second position in the ranking was taken by Malta ($X), with a 14% share of total exports. It was followed by Australia, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +38.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malta (+10.8% per year) and Australia (+31.7% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, increasing by 3.8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 31% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, 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 Switzerland ($X per ton), while the average price for exports to Ethiopia ($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 Switzerland (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Italy

In 2021, the amount of herrings (prepared or preserved) imported into Italy skyrocketed to X tons, rising by 35% compared with the previous year. Overall, imports showed a measured increase. The pace of growth appeared the most rapid in 2019 with an increase of 56% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, preserved herring imports skyrocketed to $X in 2021. In general, imports posted temperate growth. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of preserved herring to Italy, with a 61% share of total imports. Moreover, preserved herring imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.0% per year) and Spain (-5.1% per year).

In value terms, Germany ($X), the Netherlands ($X) and Spain ($X) appeared to be the largest preserved herring suppliers to Italy, together accounting for 87% of total imports. Denmark, Sweden, Romania and Malta lagged somewhat behind, together accounting for a further 7.8%.

Among the main suppliers, Romania, with a CAGR of +17.6%, 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 herring import price stood at $X per ton in 2021, with an increase of 2.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 7.6% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Malta ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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