Spain: Preserved Herring Market 2024

Preserved Herring Market Size in Spain

The Spanish preserved herring market reduced slightly to $X in 2021, standing approx. at the previous year. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.4% against 2019 indices. Preserved herring consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Herring Production in Spain

In value terms, preserved herring production rose to $X in 2021 estimated in export price. In general, production, however, posted buoyant growth. The growth pace was the most rapid in 2017 with an increase of 66%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Herring Exports

Exports from Spain

In 2021, shipments abroad of herrings (prepared or preserved) decreased by -26.9% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, exports recorded a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of 67% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, preserved herring exports shrank to $X in 2021. Overall, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 90% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of preserved herring exports from Spain, together accounting for 56% of total exports. The UK, Portugal, Croatia and Gibraltar lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +149.7%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Croatia ($X) appeared to be the largest markets for preserved herring exported from Spain worldwide, together comprising 73% of total exports.

In terms of the main countries of destination, Croatia, with a CAGR of +157.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, rising by 35% against the previous year. Overall, the export price enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when the average export price increased by 65%. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($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 Italy (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Spain

In 2021, after two years of growth, there was significant decline in supplies from abroad of herrings (prepared or preserved), when their volume decreased by -51.5% to X tons. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. Over the period under review, imports reached the maximum at X tons in 2020, and then fell markedly in the following year.

In value terms, preserved herring imports shrank markedly to $X in 2021. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), Sweden (X tons) and France (X tons) were the main suppliers of preserved herring imports to Spain, with a combined 60% share of total imports. These countries were followed by Lithuania, Romania, Poland, Greece, Denmark and the UK, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +36.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved herring suppliers to Spain were Sweden ($X), Germany ($X) and Greece ($X), with a combined 68% share of total imports. France, Romania, Lithuania, Denmark, Poland and the UK lagged somewhat behind, together comprising a further 24%.

Romania, with a CAGR of +29.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, picking up by 33% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 Greece ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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