Luxembourg: Preserved Tuna Market 2024

Preserved Tuna Market Size in Luxembourg

After four years of growth, the Luxembourg preserved tuna market decreased by -1% to $X in 2021. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved tuna consumption peaked at $X in 2020, and then fell slightly in the following year.

Preserved Tuna Exports

Exports from Luxembourg

In 2021, after two years of decline, there was significant growth in overseas shipments of tuna (prepared or preserved), when their volume increased by 19% to X tons. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 76% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved tuna exports surged to $X in 2021. Overall, exports, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2018 when exports increased by 28%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for preserved tuna exports from Luxembourg, with a 67% share of total exports. Moreover, preserved tuna exports to Belgium exceeded the volume sent to the second major destination, France (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Belgium amounted to -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-1.0% per year) and Germany (-4.1% per year).

In value terms, Belgium ($X), France ($X) and Germany ($X) appeared to be the largest markets for preserved tuna exported from Luxembourg worldwide, with a combined 100% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +2.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, growing by 7% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved tuna export price increased by +54.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium ($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 Ghana (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Luxembourg

In 2021, overseas purchases of tuna (prepared or preserved) decreased by -3.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 19%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, preserved tuna imports contracted modestly to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then declined modestly in the following year.

Imports by Country

In 2021, Belgium (X tons) constituted the largest preserved tuna supplier to Luxembourg, accounting for a 56% share of total imports. Moreover, preserved tuna imports from Belgium exceeded the figures recorded by the second-largest supplier, Portugal (X tons), threefold. The third position in this ranking was taken by France (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+7.5% per year) and France (-3.0% per year).

In value terms, Belgium ($X) constituted the largest supplier of tuna (prepared or preserved) to Luxembourg, comprising 61% of total imports. The second position in the ranking was taken by Portugal ($X), with a 17% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+9.4% per year) and France (+3.0% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, rising by 3.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2018 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

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 Belgium ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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