Sweden: Preserved Sardines Market 2024

Preserved Sardines Market Size in Sweden

In 2022, the Swedish preserved sardines market increased by 15% to $X, rising for the sixth consecutive year after three years of decline. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +102.6% against 2016 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Preserved Sardines Production in Sweden

In value terms, preserved sardines production rose slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 121%. Preserved sardines production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Preserved Sardines Exports

Exports from Sweden

In 2022, the amount of sardines (prepared or preserved) exported from Sweden rose markedly to X tons, surging by 6.6% compared with 2021. Over the period under review, exports, however, continue to indicate a slight slump. The pace of growth was the most pronounced in 2016 when exports increased by 50% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, preserved sardines exports contracted to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 37%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Norway (X tons), Poland (X tons) and Finland (X tons) were the main destinations of preserved sardines exports from Sweden, together accounting for 73% of total exports. Denmark and Latvia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +18.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved sardines exported from Sweden were Norway ($X), Finland ($X) and Denmark ($X), with a combined 85% share of total exports. Latvia and Poland lagged somewhat behind, together accounting for a further 10%.

In terms of the main countries of destination, Latvia, with a CAGR of +22.7%, 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 2022, the average preserved sardines export price amounted to $X per ton, waning by -13.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Poland ($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 Latvia (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Sweden

In 2022, overseas purchases of sardines (prepared or preserved) increased by 28% to X tons, rising for the fourth year in a row after two years of decline. In general, imports posted a prominent increase. The growth pace was the most rapid in 2016 with an increase of 118% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, preserved sardines imports soared to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +101.4% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 65%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of preserved sardines to Sweden, with a 55% share of total imports. Moreover, preserved sardines imports from Denmark exceeded the figures recorded by the second-largest supplier, Norway (X tons), threefold. Morocco (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark totaled +74.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+39.4% per year) and Morocco (+0.5% per year).

In value terms, Denmark ($X) constituted the largest supplier of sardines (prepared or preserved) to Sweden, comprising 44% of total imports. The second position in the ranking was taken by Norway ($X), with a 14% share of total imports. It was followed by Morocco, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark stood at +67.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+44.4% per year) and Morocco (+1.3% per year).

Import Prices by Country

In 2022, the average preserved sardines import price amounted to $X per ton, rising by 3.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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