United Kingdom: Preserved Salmon Market 2024

Preserved Salmon Market Size in the UK

The UK preserved salmon market rose sharply to $X in 2021, surging by 8.9% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 +16.5% against 2019 indices. Preserved salmon consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in the UK

In value terms, preserved salmon production dropped modestly to $X in 2021 estimated in export price. Overall, production recorded a noticeable reduction. The pace of growth was the most pronounced in 2014 with an increase of 69%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Salmon Exports

Exports from the UK

In 2021, approx. X tons of salmon (prepared or preserved) were exported from the UK; which is down by -80% compared with the previous year. Overall, exports showed a dramatic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 32% 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 salmon exports reduced notably to $X in 2021. Over the period under review, exports saw a dramatic setback. The pace of growth was the most pronounced in 2017 with an increase of 25%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ireland (X tons) was the main destination for preserved salmon exports from the UK, with a 62% share of total exports. Moreover, preserved salmon exports to Ireland exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. France (X tons) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Ireland amounted to -14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+4.6% per year) and France (-9.4% per year).

In value terms, Ireland ($X) remains the key foreign market for salmon (prepared or preserved) exports from the UK, comprising 65% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by France, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ireland stood at -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+8.7% per year) and France (-4.7% per year).

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, jumping by 39% against the previous year. Overall, the export price continues to indicate a noticeable increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 52% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Philippines ($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 Gibraltar (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Salmon Imports

Imports into the UK

Preserved salmon imports into the UK contracted to X tons in 2021, shrinking by -5.4% compared with 2020. In general, imports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 17%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, preserved salmon imports amounted to $X in 2021. Overall, imports recorded a noticeable shrinkage. The growth pace was the most rapid in 2018 with an increase of 32% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest preserved salmon supplier to the UK, with a 53% share of total imports. Moreover, preserved salmon imports from the United States exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The third position in this ranking was taken by Canada (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+88.1% per year) and Canada (-11.4% per year).

In value terms, the United States ($X) constituted the largest supplier of salmon (prepared or preserved) to the UK, comprising 52% of total imports. The second position in the ranking was held by Canada ($X), with a 16% share of total imports. It was followed by Poland, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-8.2% per year) and Poland (+90.2% per year).

Import Prices by Country

In 2021, the average preserved salmon import price amounted to $X per ton, rising by 6.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Canada ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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