Germany, Spain, and Italy Are the Key Players on the EU Anchovies Market

IndexBox has just published a new report: 'EU - Anchovies (Prepared Or Preserved) - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The revenue of the anchovies market in the European Union amounted to $253M in 2018, shrinking by -6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, anchovies consumption continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2016, with an increase of 26% y-o-y. The level of anchovies consumption peaked at $315M in 2009; however, from 2010 to 2018, consumption stood at a somewhat lower figure.

Exports in the EU

In 2018, exports of anchovies (prepared or preserved) in the European Union totaled 9.2K tonnes, jumping by 10% against the previous year. In general, anchovies exports, however, continue to indicate a relatively flat trend pattern.

In value terms, anchovies exports totaled $108M (IndexBox estimates) in 2018.

Exports by Country

In 2018, Spain (3.6K tonnes) and Italy (2.8K tonnes) represented the major exporters of anchovies (prepared or preserved) around the world, together finishing at approx. 70% of total exports. France (815 tonnes) ranks next in terms of the total exports with a 8.9% share, followed by Germany (4.6%). Belgium (401 tonnes), Latvia (153 tonnes), Bulgaria (146 tonnes) and Croatia (144 tonnes) took a minor share of total exports.

From 2008 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Bulgaria (+110.2% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest anchovies markets in the European Union were Spain ($54M), Italy ($31M) and France ($7.1M), together comprising 86% of total exports. These countries were followed by Belgium, Germany, Croatia, Bulgaria and Latvia, which together accounted for a further 8.7%.

Export Prices by Country

In 2018, the anchovies export price in the European Union amounted to $12 per kg, growing by 2.4% against the previous year. Over the period from 2008 to 2018, it increased at an average annual rate of +2.5%.

There were significant differences in the average export prices amongst the major exporting countries. In 2018, the country with the highest export price was Spain ($15 per kg), while Latvia ($3.5 per kg) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of export prices was attained by Bulgaria, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, anchovies imports in the European Union amounted to 17K tonnes, stabilizing at the previous year.

In value terms, anchovies imports stood at $136M (IndexBox estimates) in 2018. In general, anchovies imports continue to indicate a temperate contraction. The growth pace was the most rapid in 2013, when imports increased by 27% year-to-year. Over the period under review, anchovies imports reached their maximum at $170M in 2009; however, from 2010 to 2018, imports stood at a somewhat lower figure.

Imports by Country

Italy (5.5K tonnes) and France (4.4K tonnes) represented roughly 57% of total imports of anchovies (prepared or preserved) in 2018. Spain (2.1K tonnes) ranks next in terms of the total imports with a 12% share, followed by Germany (6.4%), the UK (6.3%) and Belgium (6.1%). Portugal (501 tonnes) followed a long way behind the leaders.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Portugal, while the other leaders experienced more modest paces of growth.

In value terms, the largest anchovies importing markets in the European Union were France ($39M), Italy ($37M) and the UK ($13M), together comprising 66% of total imports. Spain, Germany, Belgium and Portugal lagged somewhat behind, together comprising a further 24%.

Import Prices by Country

In 2018, the anchovies import price in the European Union amounted to $7,856 per tonne, declining by -8.5% against the previous year. Over the period under review, the anchovies import price continues to indicate a mild slump.

Import prices varied noticeably by the country of destination; the country with the highest import price was the UK ($12,124 per tonne), while Portugal ($2,819 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of import prices was attained by Belgium, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform