Spain: Preserved Tuna Market 2024

Preserved Tuna Market Size in Spain

In 2021, the Spanish preserved tuna market decreased by -7.1% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved tuna consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Tuna Production in Spain

In value terms, preserved tuna production reduced to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13% against the previous year. Preserved tuna production peaked at $X in 2020, and then reduced in the following year.

Preserved Tuna Exports

Exports from Spain

In 2021, approx. X tons of tuna (prepared or preserved) were exported from Spain; waning by -7.5% against the previous year's figure. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, preserved tuna exports declined to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 22%. Over the period under review, the exports hit record highs at $X in 2020, and then dropped in the following year.

Exports by Country

Italy (X tons), France (X tons) and Portugal (X tons) were the main destinations of preserved tuna exports from Spain, together comprising 74% of total exports. These countries were followed by the UK, Morocco, Belgium and Germany, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +53.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved tuna exported from Spain were Italy ($X), France ($X) and Portugal ($X), with a combined 74% share of total exports. The UK, Germany, Morocco and Belgium lagged somewhat behind, together accounting for a further 9.9%.

Morocco, with a CAGR of +47.6%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average preserved tuna export price amounted to $X per ton, with an increase of 4.9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Morocco ($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 Belgium (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Spain

In 2021, supplies from abroad of tuna (prepared or preserved) decreased by -0.2% to X tons, falling for the second year in a row after three years of growth. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -10.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 28%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, preserved tuna imports expanded significantly to $X in 2021. Overall, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest supplier of preserved tuna to Spain, accounting for a 37% share of total imports. Moreover, preserved tuna imports from Ecuador exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Papua New Guinea (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from Ecuador amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+32.5% per year) and Papua New Guinea (+8.3% per year).

In value terms, Ecuador ($X) constituted the largest supplier of tuna (prepared or preserved) to Spain, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Papua New Guinea, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ecuador was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.7% per year) and Papua New Guinea (+5.7% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, with an increase of 6.9% against the previous year. Over the period under review, the import price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2017 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Guatemala ($X per ton), while the price for Portugal ($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 Philippines (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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