Global Smoked Salmon Market 2024

Smoked Salmon Market Size

The global smoked salmon market fell slightly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Global consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Smoked Salmon Production

In value terms, smoked salmon production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 17%. Global production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Smoked Salmon Exports

Exports

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were exported worldwide; with a decrease of -4.2% against the previous year's figure. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 10%. As a result, the exports attained the peak of X tons, and then reduced slightly in the following year.

In value terms, smoked salmon exports rose modestly to $X in 2022. The total export value increased at an average annual rate of +5.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 22%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, Poland (X tons) represented the major exporter of smoked pacific, atlantic and danube salmon, creating 44% of total exports. Lithuania (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Germany (11%), Denmark (7.1%) and the Netherlands (6.7%). The following exporters - Belgium (X tons) and Greece (X tons) - each amounted to a 5.2% share of total exports.

Exports from Poland increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Belgium (+12.7%), the Netherlands (+9.1%), Germany (+4.9%) and Lithuania (+4.2%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.7% from 2012-2022. Greece and Denmark experienced a relatively flat trend pattern. Poland (+3.5 p.p.), the Netherlands (+3 p.p.), Germany (+2 p.p.) and Belgium (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while Denmark saw its share reduced by -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest smoked salmon supplier worldwide, comprising 42% of global exports. The second position in the ranking was taken by Lithuania ($X), with a 12% share of global exports. It was followed by Germany, with an 11% share.

In Poland, smoked salmon exports expanded at an average annual rate of +6.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Lithuania (+8.9% per year) and Germany (+7.0% per year).

Export Prices by Country

The average smoked salmon export price stood at $X per ton in 2022, increasing by 7.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 17%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Belgium ($X per ton) and Greece ($X per ton), while Poland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.6%), while the other global leaders experienced more modest paces of growth.

Smoked Salmon Imports

Imports

In 2022, the amount of smoked pacific, atlantic and danube salmon imported worldwide rose slightly to X tons, increasing by 3.2% against the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 11% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, smoked salmon imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +5.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 19% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons) and Italy (X tons) were the key importers of smoked pacific, atlantic and danube salmon in 2022, resulting at near 25% and 17% of total imports, respectively. France (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by the United States (8.1%), Greece (5.8%) and Belgium (5.4%). Switzerland (X tons), Austria (X tons), Australia (X tons), Denmark (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +19.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest smoked salmon importing markets worldwide were Germany ($X), Italy ($X) and the United States ($X), together comprising 53% of global imports. France, Belgium, Switzerland, Greece, Austria, Australia, Denmark and the Netherlands lagged somewhat behind, together comprising a further 32%.

Greece, with a CAGR of +15.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average smoked salmon import price stood at $X per ton in 2022, increasing by 4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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