Spain: Smoked Salmon Market 2024

Smoked Salmon Market Size in Spain

The Spanish smoked salmon market surged to $X in 2022, with an increase of 65% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -26.8% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Smoked Salmon Production in Spain

In value terms, smoked salmon production surged to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value 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, production decreased by -27.6% against 2020 indices. Smoked salmon production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Smoked Salmon Exports

Exports from Spain

Smoked salmon exports from Spain fell to X tons in 2022, with a decrease of -13% compared with 2021. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 67% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, smoked salmon exports expanded notably to $X in 2022. Overall, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 63% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Portugal (X tons) was the main destination for smoked salmon exports from Spain, accounting for a 61% share of total exports. Moreover, smoked salmon exports to Portugal exceeded the volume sent to the second major destination, Italy (X tons), threefold. Andorra (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Portugal amounted to +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.7% per year) and Andorra (+5.6% per year).

In value terms, Portugal ($X), Italy ($X) and Andorra ($X) constituted the largest markets for smoked salmon exported from Spain worldwide, with a combined 90% share of total exports. Cabo Verde, Cuba, the United States and France lagged somewhat behind, together comprising a further 5.8%.

The United States, with a CAGR of +98.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average smoked salmon export price stood at $X per ton in 2022, jumping by 21% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked salmon export price decreased by -4.7% against 2018 indices. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the United States ($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 Italy (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into Spain

In 2022, after four years of decline, there was significant growth in supplies from abroad of smoked pacific, atlantic and danube salmon, when their volume increased by 34% to X tons. Overall, imports enjoyed a noticeable expansion. The pace of growth was the most pronounced in 2017 with an increase of 125%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, smoked salmon imports skyrocketed to $X in 2022. Over the period under review, imports saw a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 90%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of smoked salmon to Spain, accounting for a 73% share of total imports. Moreover, smoked salmon imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), sixfold. The third position in this ranking was held by France (X tons), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+102.0% per year) and France (-13.0% per year).

In value terms, Germany ($X) constituted the largest supplier of smoked pacific, atlantic and danube salmon to Spain, comprising 83% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 4.5% share of total imports. It was followed by Sweden, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+24.9% per year) and Sweden (-2.2% per year).

Import Prices by Country

The average smoked salmon import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2020 an increase of 26%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, 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 the Netherlands ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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