Sardines Market in the EU - Key Insights

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

The revenue of the sardines market in the European Union amounted to $642M in 2017, shrinking by -3.8% 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). The sardines consumption continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2008, with an increase of 19% y-o-y. In that year, the sardines market reached its peak level of $861M. From 2009 to 2017, the growth of the sardines market remained at a somewhat lower figure.

Production in the EU

The sardines production amounted to 129K tonnes in 2017, falling by -4.5% against the previous year. The sardines production continues to indicate a drastic curtailment.

Exports in the EU

In 2017, the amount of sardines (prepared or preserved) exported in the European Union totaled 58K tonnes, surging by 3.5% against the previous year. The sardines exports continue to indicate a deep drop.

In value terms, sardines exports amounted to $219M (IndexBox estimates) in 2017. The sardines exports continue to indicate a slight descent. Over the period under review, sardines exports attained their peak figure at $323M in 2013; however, from 2014 to 2017, exports stood at a somewhat lower figure.

Exports by Country

In 2017, Latvia (16K tonnes), distantly followed by Portugal (9.9K tonnes), Poland (5.9K tonnes), Estonia (5.3K tonnes), the Netherlands (4.5K tonnes) and Croatia (4.3K tonnes) were the main exporters of sardines (prepared or preserved), together creating 79% of total exports. Spain (2.5K tonnes), Germany (2.2K tonnes), the UK (2.1K tonnes), Italy (1.1K tonnes) and Lithuania (1.1K tonnes) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

In value terms, the largest sardines markets worldwide were Portugal ($60M), Latvia ($35M) and Poland ($29M), with a combined 56% share of total exports. These countries were followed by the Netherlands, Croatia, Spain, Germany, the UK, Italy, Lithuania and Estonia, which together accounted for a further 37%.

Export Prices by Country

In 2017, the sardines export price in the European Union amounted to $3.8 per kg, surging by 3.7% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +4.6%.

Export prices varied noticeably by the country of destination; the country with the highest export price was Portugal ($6,004 per tonne), while Estonia ($762 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Imports in the EU

In 2017, the amount of sardines (prepared or preserved) imported in the European Union totaled 88K tonnes, approximately reflecting the previous year. The sardines imports continue to indicate a relatively flat trend pattern.

In value terms, sardines imports stood at $322M (IndexBox estimates) in 2017. The sardines imports continue to indicate a relatively flat trend pattern. In that year, sardines imports attained their peak of $367M. From 2009 to 2017, the growth of sardines imports remained at a lower figure.

Imports by Country

France (19K tonnes) and the UK (15K tonnes) represented the largest importers of sardines (prepared or preserved) in 2017, finishing at approx. 22% and 16% of total imports, respectively. Germany (9.2K tonnes) ranks next in terms of the global imports with a 10% share, followed by Spain (7.1%), the Netherlands (6.4%), Belgium (6%) and Italy (4.8%). The following importers - Romania (3.4K tonnes), the Czech Republic (3.4K tonnes), Austria (3.2K tonnes), Portugal (1.9K tonnes) and Sweden (1.8K tonnes) together made up 15% of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Sweden, while the other leaders experienced more modest paces of growth.

In value terms, the largest sardines markets worldwide were France ($85M), the UK ($47M) and Germany ($37M), together accounting for 52% of total imports. Spain, the Netherlands, Italy, Belgium, the Czech Republic, Romania, Austria, Portugal and Sweden lagged somewhat behind, together comprising a further 38%.

Import Prices by Country

In 2017, the sardines import price in the European Union amounted to $3.6 per kg, jumping by 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Italy ($4,493 per tonne), while Sweden ($1,974 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Romania, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform