Italy: Preserved Tuna Market 2024

Preserved Tuna Market Size in Italy

The Italian preserved tuna market expanded to $X in 2021, increasing by 3.4% against the previous year. Overall, consumption showed a relatively flat trend pattern. Preserved tuna consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Preserved Tuna Production in Italy

In value terms, preserved tuna production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 12% against the previous year. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the near future.

Preserved Tuna Exports

Exports from Italy

For the fourth consecutive year, Italy recorded growth in overseas shipments of tuna (prepared or preserved), which increased by 1.7% to X tons in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.2% against 2017 indices. The growth pace was the most rapid in 2020 when exports increased by 25%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, preserved tuna exports reached $X in 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +43.2% against 2014 indices. The growth pace was the most rapid in 2020 when exports increased by 22% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), Canada (X tons) and Greece (X tons) were the main destinations of preserved tuna exports from Italy, together accounting for 30% of total exports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +23.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Greece ($X) and Canada ($X) constituted the largest markets for preserved tuna exported from Italy worldwide, with a combined 28% share of total exports. The Czech Republic, Slovenia, Austria, Switzerland, Croatia, Romania, Hungary, Saudi Arabia, Belgium and Spain lagged somewhat behind, together comprising a further 47%.

Spain, with a CAGR of +19.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 10%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Hungary ($X per ton) and Switzerland ($X per ton), while the average price for exports to Germany ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Italy

Preserved tuna imports into Italy dropped to X tons in 2021, reducing by -3.4% against the year before. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 14% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, preserved tuna imports reduced slightly to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of preserved tuna to Italy, accounting for a 33% share of total imports. Moreover, preserved tuna imports from Spain exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+1.1% per year) and Indonesia (+51.5% per year).

In value terms, Spain ($X) constituted the largest supplier of tuna (prepared or preserved) to Italy, comprising 34% of total imports. The second position in the ranking was taken by Ecuador ($X), with a 14% share of total imports. It was followed by Indonesia, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (+0.4% per year) and Indonesia (+55.3% per year).

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, increasing by 2.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 14%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, 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 Portugal ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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