United Kingdom: Preserved Tuna Market 2024

Preserved Tuna Market Size in the UK

The UK preserved tuna market contracted to $X in 2021, reducing by -10.6% against the previous year. Overall, consumption saw a mild reduction. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Preserved Tuna Production in the UK

In value terms, preserved tuna production shrank sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 77%. Preserved tuna production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Preserved Tuna Exports

Exports from the UK

In 2021, approx. X tons of tuna (prepared or preserved) were exported from the UK; waning by -89.5% against 2020 figures. In general, exports continue to indicate a sharp shrinkage. The growth pace was the most rapid in 2018 with an increase of 97% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved tuna exports dropped markedly to $X in 2021. Over the period under review, exports saw a dramatic slump. The pace of growth appeared the most rapid in 2018 with an increase of 35% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Ireland (X tons) was the main destination for preserved tuna exports from the UK, accounting for a 55% share of total exports. Moreover, preserved tuna exports to Ireland exceeded the volume sent to the second major destination, Italy (X tons), fivefold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Ireland stood at -24.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+5.9% per year) and Hong Kong SAR (+39.9% per year).

In value terms, Ireland ($X) remains the key foreign market for tuna (prepared or preserved) exports from the UK, comprising 50% of total exports. The second position in the ranking was held by Italy ($X), with a 9.6% share of total exports. It was followed by Hong Kong SAR, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ireland amounted to -25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+5.4% per year) and Hong Kong SAR (+35.4% per year).

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, with an increase of 7.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 65% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Iceland ($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 (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into the UK

In 2021, supplies from abroad of tuna (prepared or preserved) decreased by -5.4% to X tons, falling for the fifth consecutive year after two years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved tuna imports shrank to $X in 2021. Over the period under review, imports recorded a slight slump. The pace of growth appeared the most rapid in 2013 when imports increased by 22% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest supplier of preserved tuna to the UK, with a 35% share of total imports. Moreover, preserved tuna imports from Ecuador exceeded the figures recorded by the second-largest supplier, Seychelles (X tons), twofold. Mauritius (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Ecuador stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Seychelles (+0.3% per year) and Mauritius (-7.6% per year).

In value terms, Ecuador ($X) constituted the largest supplier of tuna (prepared or preserved) to the UK, comprising 32% of total imports. The second position in the ranking was held by Seychelles ($X), with a 14% share of total imports. It was followed by Mauritius, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ecuador amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Seychelles (-1.2% per year) and Mauritius (-8.1% per year).

Import Prices by Country

In 2021, the average preserved tuna import price amounted to $X per ton, shrinking by -1.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and Spain ($X per ton), while the price for Indonesia ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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