United Kingdom: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in the UK

The UK preserved fish fillet market reduced to $X in 2021, which is down by -6.7% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +31.6% against 2019 indices. Preserved fish fillet consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Preserved Fish Fillet Production in the UK

In value terms, preserved fish fillet production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 49%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Preserved Fish Fillet Exports

Exports from the UK

In 2021, the amount of fish fillets (dried, salted or in brine, but not smoked) exported from the UK fell notably to X tons, which is down by -81.1% on the previous year's figure. Over the period under review, exports continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 54%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, preserved fish fillet exports fell remarkably to $X in 2021. In general, exports faced a precipitous contraction. The pace of growth appeared the most rapid in 2015 with an increase of 45% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) was the main destination for preserved fish fillet exports from the UK, with a 56% share of total exports. Moreover, preserved fish fillet exports to Nigeria exceeded the volume sent to the second major destination, France (X tons), fourfold. Portugal (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to Nigeria amounted to -25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.3% per year) and Portugal (0.0% per year).

In value terms, the largest markets for preserved fish fillet exported from the UK were Nigeria ($X), Hong Kong SAR ($X) and France ($X), together accounting for 71% of total exports.

Hong Kong SAR, with a CAGR of +1.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average preserved fish fillet export price amounted to $X per ton, surging by 28% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2017 when the average export price increased by 41%. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Portugal ($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 Hong Kong SAR (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Fish Fillet Imports

Imports into the UK

Preserved fish fillet imports into the UK shrank rapidly to X tons in 2021, with a decrease of -52.5% compared with the year before. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by 73% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, preserved fish fillet imports declined significantly to $X in 2021. Overall, imports showed a deep contraction. The growth pace was the most rapid in 2014 when imports increased by 60% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), the Netherlands (X tons) and Denmark (X tons) were the main suppliers of preserved fish fillet imports to the UK, with a combined 85% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +26.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved fish fillet suppliers to the UK were China ($X), the Netherlands ($X) and Suriname ($X), with a combined 78% share of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +25.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, with an increase of 17% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Suriname ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Suriname (+36.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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