United Kingdom: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in the UK

In 2021, the UK preserved anchovies market decreased by -4.1% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.2% against 2015 indices. Preserved anchovies consumption peaked at $X in 2020, and then declined slightly in the following year.

Preserved Anchovies Production in the UK

In value terms, preserved anchovies production contracted to $X in 2021 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.2% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Preserved Anchovies Exports

Exports from the UK

In 2021, after four years of growth, there was significant decline in overseas shipments of anchovies (prepared or preserved), when their volume decreased by -79.1% to X tons. Over the period under review, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2015 when exports increased by 79% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved anchovies exports fell notably to $X in 2021. In general, exports recorded a deep setback. The pace of growth appeared the most rapid in 2019 when exports increased by 28% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then fell sharply in the following year.

Exports by Country

Singapore (X tons), Bulgaria (X tons) and Bahrain (X tons) were the main destinations of preserved anchovies exports from the UK, together accounting for 76% of total exports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +57.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the key foreign market for anchovies (prepared or preserved) exports from the UK, comprising 53% of total exports. The second position in the ranking was held by Ireland ($X), with an 11% share of total exports. It was followed by Bahrain, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-21.2% per year) and Bahrain (+6.1% per year).

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, with a decrease of -31.8% against the previous year. In general, the export price, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 173%. The export price peaked at $X per ton in 2014; however, from 2015 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 Ireland ($X per ton), while the average price for exports to Bulgaria ($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 Ireland (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into the UK

In 2021, purchases abroad of anchovies (prepared or preserved) increased by 0.7% to X tons, rising for the fourth year in a row after three years of decline. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 27%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, preserved anchovies imports declined to $X in 2021. The total import value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 20% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Peru (X tons), Spain (X tons) and France (X tons) were the main suppliers of preserved anchovies imports to the UK, together accounting for 80% of total imports. These countries were followed by Morocco, Italy, Belgium and Germany, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +224.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of anchovies (prepared or preserved) to the UK, comprising 46% of total imports. The second position in the ranking was taken by Peru ($X), with a 21% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+25.9% per year) and France (-5.4% per year).

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, with a decrease of -7.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 18%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 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 Spain ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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