Norway: Preserved Herring Market 2024

Preserved Herring Market Size in Norway

The Norwegian preserved herring market soared to $X in 2021, growing by 143% against the previous year. Over the period under review, consumption posted strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Preserved Herring Production in Norway

In value terms, preserved herring production soared to $X in 2021 estimated in export price. In general, production recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 125% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Preserved Herring Exports

Exports from Norway

In 2021, after five years of growth, there was decline in overseas shipments of herrings (prepared or preserved), when their volume decreased by -4.1% to X tons. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 26%. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank slightly in the following year.

In value terms, preserved herring exports totaled $X in 2021. Overall, exports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 19%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons), Sweden (X tons) and Denmark (X tons) were the main destinations of preserved herring exports from Norway, with a combined 94% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +35.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Poland ($X), Sweden ($X) and Denmark ($X) appeared to be the largest markets for preserved herring exported from Norway worldwide, with a combined 94% share of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +35.6%, 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

The average preserved herring export price stood at $X per ton in 2021, picking up by 19% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Finland ($X per ton) and Denmark ($X per ton), while the average price for exports to Sweden ($X per ton) and Germany ($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 Poland (+0.4%), while the prices for the other major destinations experienced a decline.

Preserved Herring Imports

Imports into Norway

For the third year in a row, Norway recorded decline in purchases abroad of herrings (prepared or preserved), which decreased by -11.4% to X tons in 2021. Over the period under review, imports showed a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 14%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports expanded remarkably to $X in 2021. In general, imports saw a abrupt setback. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest preserved herring supplier to Norway, accounting for a 68% share of total imports. Moreover, preserved herring imports from Poland exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. Denmark (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from Poland totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-4.4% per year) and Denmark (-20.1% per year).

In value terms, Poland ($X) constituted the largest supplier of herrings (prepared or preserved) to Norway, comprising 71% of total imports. The second position in the ranking was held by Sweden ($X), with a 19% share of total imports. It was followed by Denmark, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from Poland totaled -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-6.9% per year) and Denmark (-23.5% per year).

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, increasing by 20% against the previous year. In general, the import price, however, continues to indicate a perceptible setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Lithuania ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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