United Kingdom: Preserved Herring Market 2024

Preserved Herring Market Size in the UK

In 2021, the UK preserved herring market decreased by -2.1% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 decreased by -11.2% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Preserved Herring Production in the UK

In value terms, preserved herring production shrank slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.2% against 2017 indices. The growth pace was the most rapid in 2017 when the production volume increased by 47%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Preserved Herring Exports

Exports from the UK

In 2021, overseas shipments of herrings (prepared or preserved) decreased by -34.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a deep slump. The growth pace was the most rapid in 2016 with an increase of 65% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved herring exports declined remarkably to $X in 2021. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2020 when exports increased by 28%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cameroon (X tons) was the main destination for preserved herring exports from the UK, with a 74% share of total exports. Moreover, preserved herring exports to Cameroon exceeded the volume sent to the second major destination, Ireland (X tons), tenfold. The third position in this ranking was taken by France (X tons), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cameroon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-27.2% per year) and France (-10.8% per year).

In value terms, Cameroon ($X) emerged as the key foreign market for herrings (prepared or preserved) exports from the UK, comprising 42% of total exports. The second position in the ranking was held by Qatar ($X), with an 11% share of total exports. It was followed by Ireland, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Cameroon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+29.4% per year) and Ireland (-27.7% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, reducing by -52.2% against the previous year. Over the period under review, the export price recorded a pronounced decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 37% against the previous year. The export price peaked at $X per ton in 2020, and then dropped dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Cameroon ($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 Qatar (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into the UK

In 2021, supplies from abroad of herrings (prepared or preserved) increased by 22% to X tons for the first time since 2015, thus ending a five-year declining trend. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 23%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports soared to $X in 2021. Over the period under review, imports, however, recorded a pronounced reduction. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of preserved herring to the UK, accounting for a 52% share of total imports. Moreover, preserved herring imports from Poland exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Lithuania (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+44.6% per year) and Lithuania (+1.3% per year).

In value terms, Poland ($X) constituted the largest supplier of herrings (prepared or preserved) to the UK, comprising 50% of total imports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total imports. It was followed by Ireland, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+39.9% per year) and Ireland (-9.5% per year).

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2018 an increase of 7.5% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Belgium ($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 (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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