Luxembourg: Preserved Sardines Market 2024

Preserved Sardines Market Size in Luxembourg

In 2022, the Luxembourg preserved sardines market decreased by -8% to $X for the first time since 2015, thus ending a six-year rising trend. Over the period under review, consumption, however, saw a slight decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Preserved Sardines Production in Luxembourg

In value terms, preserved sardines production reduced to $X in 2022 estimated in export price. Overall, production showed a perceptible decrease. The pace of growth was the most pronounced in 2021 when the production volume increased by 36% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Preserved Sardines Exports

Exports from Luxembourg

In 2022, approx. X kg of sardines (prepared or preserved) were exported from Luxembourg; waning by -4% on the previous year. Overall, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 162% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, preserved sardines exports surged to $X in 2022. In general, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 124%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X kg), France (X kg) and Germany (X kg) were the main destinations of preserved sardines exports from Luxembourg, together accounting for 82% of total exports. Azerbaijan, Spain and Portugal lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +500.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for sardines (prepared or preserved) exports from Luxembourg, comprising 48% of total exports. The second position in the ranking was held by Germany ($X), with a 21% share of total exports. It was followed by France, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium amounted to +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+36.3% per year) and France (+8.4% per year).

Export Prices by Country

The average preserved sardines export price stood at $X per ton in 2022, jumping by 34% against the previous year. Over the period under review, the export price showed a notable expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 58%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Portugal ($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 Germany (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Luxembourg

In 2022, preserved sardines imports into Luxembourg was estimated at X tons, surging by 11% against the previous year's figure. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.7% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, preserved sardines imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 24%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Portugal (X tons), Belgium (X tons) and France (X tons) were the main suppliers of preserved sardines imports to Luxembourg, together comprising 86% of total imports. Morocco, Spain and Italy lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +11.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sardines suppliers to Luxembourg were Belgium ($X), Portugal ($X) and France ($X), with a combined 85% share of total imports. Italy, Morocco and Spain lagged somewhat behind, together comprising a further 10%.

Italy, with a CAGR of +9.6%, recorded 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

The average preserved sardines import price stood at $X per ton in 2022, waning by -14.9% against the previous year. Over the period under review, the import price showed a mild curtailment. The pace of growth was the most pronounced in 2016 an increase of 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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