United Kingdom: Smoked Salmon Market 2024

Smoked Salmon Market Size in the UK

The UK smoked salmon market stood at $X in 2022, increasing by 2.5% against the previous year. In general, consumption saw a relatively flat trend pattern. Smoked salmon consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Smoked Salmon Production in the UK

In value terms, smoked salmon production totaled $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40% against the previous year. Smoked salmon production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Smoked Salmon Exports

Exports from the UK

In 2022, overseas shipments of smoked pacific, atlantic and danube salmon increased by 4% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 4.9%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, smoked salmon exports declined to $X in 2022. In general, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 15% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons), Italy (X tons) and the United States (X tons) were the main destinations of smoked salmon exports from the UK, together comprising 78% of total exports. Denmark, Canada, Belgium, Thailand, Ireland, the Netherlands, Germany and Greece lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +45.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for smoked salmon exported from the UK were France ($X), Italy ($X) and the United States ($X), together comprising 74% of total exports. Canada, Ireland, Belgium, Germany, the Netherlands, Thailand, Greece and Denmark lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Canada, with a CAGR of +86.8%, recorded the highest growth rate of 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

The average smoked salmon export price stood at $X per ton in 2022, waning by -17% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked salmon export price increased by +52.3% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into the UK

In 2022, imports of smoked pacific, atlantic and danube salmon into the UK dropped notably to X tons, falling by -42.7% against the previous year's figure. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 111% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, smoked salmon imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 42% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Norway (X tons), Poland (X tons) and Lithuania (X tons) were the main suppliers of smoked salmon imports to the UK, with a combined 82% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +87.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest smoked salmon suppliers to the UK were Norway ($X), Poland ($X) and Canada ($X), together accounting for 84% of total imports.

Among the main suppliers, Norway, with a CAGR of +112.9%, saw the highest growth rate of 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 2022, the average smoked salmon import price amounted to $X per ton, rising by 69% against the previous year. Over the period under review, the import price saw strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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