Italy: Preserved Sardines Market 2024

Preserved Sardines Market Size in Italy

In 2022, the Italian preserved sardines market increased by 2.8% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, saw a slight shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Preserved Sardines Production in Italy

In value terms, preserved sardines production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 82% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from Italy

For the fourth consecutive year, Italy recorded decline in shipments abroad of sardines (prepared or preserved), which decreased by -13.6% to X tons in 2022. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 38% against the previous year. 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 reduced rapidly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 22% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main destinations of preserved sardines exports from Italy, with a combined 33% share of total exports. Australia, the United States, Poland, the Czech Republic, Greece, Denmark, Switzerland, Austria, Malta and Canada lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +33.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved sardines exported from Italy were France ($X), Germany ($X) and the United States ($X), with a combined 36% share of total exports. Australia, Belgium, the Czech Republic, Denmark, Poland, Switzerland, Austria, Canada, Greece and Malta lagged somewhat behind, together accounting for a further 44%.

In terms of the main countries of destination, Denmark, with a CAGR of +38.5%, 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 2022, the average preserved sardines export price amounted to $X per ton, which is down by -2.3% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sardines export price increased by +121.4% against 2015 indices. The pace of growth was the most pronounced in 2016 an increase of 33% against the previous year. The export price peaked at $X per ton in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Malta ($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 Canada (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Italy

Preserved sardines imports into Italy surged to X tons in 2022, with an increase of 48% on 2021. In general, imports, however, showed a noticeable descent. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, preserved sardines imports surged to $X in 2022. Over the period under review, imports, however, saw a perceptible shrinkage. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Morocco (X tons) constituted the largest supplier of preserved sardines to Italy, with a 68% share of total imports. Moreover, preserved sardines imports from Morocco exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Spain (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Morocco totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+50.7% per year) and Spain (-6.0% per year).

In value terms, Morocco ($X) constituted the largest supplier of sardines (prepared or preserved) to Italy, comprising 66% of total imports. The second position in the ranking was held by Portugal ($X), with a 10% share of total imports. It was followed by the Netherlands, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from Morocco amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-4.4% per year) and the Netherlands (+45.8% per year).

Import Prices by Country

In 2022, the average preserved sardines import price amounted to $X per ton, shrinking by -12.4% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 14% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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