Northern America: Preserved Herring Market 2024

Preserved Herring Market Size in Northern America

The North American preserved herring market rose modestly to $X in 2021, increasing by 3.6% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 -3.3% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Preserved Herring Production in Northern America

In value terms, preserved herring production expanded notably to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value 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, production decreased by -5.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 35%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Preserved Herring Exports

Exports in Northern America

In 2021, shipments abroad of herrings (prepared or preserved) increased by 25% to X tons, rising for the second year in a row after five years of decline. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved herring exports reached $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 12%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada dominates exports structure, reaching X tons, which was approx. 96% of total exports in 2021. The United States (X tons) held a minor share of total exports.

Canada was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of +1.2% from 2012 to 2021. The United States experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) remains the largest preserved herring supplier in Northern America, comprising 95% of total exports. The second position in the ranking was held by the United States ($X), with a 5.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Canada was relatively modest.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, falling by -20.2% against the previous year. Over the period under review, the export price showed a mild contraction. The pace of growth appeared the most rapid in 2013 an increase of 5.7% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.1%).

Preserved Herring Imports

Imports in Northern America

In 2021, the amount of herrings (prepared or preserved) imported in Northern America expanded remarkably to X tons, picking up by 8.2% against the year before. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 20%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, preserved herring imports reduced modestly to $X in 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 19%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States prevails in imports structure, accounting for X tons, which was near 90% of total imports in 2021. It was distantly followed by Canada (X tons), achieving a 9.4% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of herrings (prepared or preserved). At the same time, Canada (+15.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +15.0% from 2012-2021. Canada (+6.4 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -6.5% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported herrings (prepared or preserved) in Northern America, comprising 91% of total imports. The second position in the ranking was held by Canada ($X), with an 8.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States was relatively modest.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, reducing by -11.1% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 7.6%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-0.7%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :