U.S.: Preserved Herring Market 2024

Preserved Herring Market Size in the U.S.

The U.S. preserved herring market rose significantly to $X in 2021, with an increase of 5.4% against the previous year. In general, consumption, however, recorded a strong expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Preserved Herring Production in the U.S.

In value terms, preserved herring production totaled $X in 2021. In general, production, however, recorded a strong increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 39% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Preserved Herring Exports

Exports from the U.S.

Preserved herring exports from the United States soared to X tons in 2021, picking up by 264% compared with 2020 figures. Overall, exports, however, saw a relatively flat trend pattern. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved herring exports soared to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Dominican Republic (X tons), Brazil (X tons) and Guatemala (X tons) were the main destinations of preserved herring exports from the United States, with a combined 72% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +164.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved herring exported from the United States were the Dominican Republic ($X), Brazil ($X) and Mexico ($X), together accounting for 62% of total exports.

Among the main countries of destination, Brazil, with a CAGR of +181.3%, recorded 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, falling by -6% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved herring export price decreased by -42.3% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 36% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 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 Honduras ($X per ton), while the average price for exports to Brazil ($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 the Dominican Republic (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into the U.S.

In 2021, supplies from abroad of herrings (prepared or preserved) increased by 8.1% to X tons, rising for the second consecutive year after four years of decline. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, preserved herring imports fell to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 20%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of preserved herring to the United States, accounting for a 70% share of total imports. Moreover, preserved herring imports from Canada exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by Poland (X tons), with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.0% per year) and Poland (+3.0% per year).

In value terms, Canada ($X) constituted the largest supplier of herrings (prepared or preserved) to the United States, comprising 58% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by Latvia, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.5% per year) and Latvia (+29.2% per year).

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, dropping by -12.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 7.1%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

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 Latvia ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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