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EU - Smoked Pacific, Atlantic And Danube Salmon - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact

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Article Publishing Date: Dec 9, 2020

The European Smoked Salmon Market to Retain Gradual Growth Despite the Pandemic

IndexBox has just published a new report: 'EU - Smoked Pacific, Atlantic And Danube Salmon - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The size of the smoked salmon market in the European Union contracted slightly to $4.4B in 2019  (IndexBox estimates), approximately equating to 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 countries with the highest volumes of smoked salmon consumption in 2019 were Germany (39K tonnes), France (26K tonnes) and the UK (24K tonnes), together comprising 38% of total consumption. Italy, the Netherlands, Spain, Poland, Belgium, Romania, Denmark, the Czech Republic, Greece and Portugal lagged somewhat behind, together comprising a further 45%.

From 2012 to 2019, the most notable rate of growth in terms of smoked salmon consumption, amongst the leading consuming countries, was attained by the UK, while smoked salmon consumption in France showed a mild contraction. 

Moreover, exports in France are also decreasing for the second consecutive year. This is likely to be connected with the rising prices which make the product less competitive. Moreover, the volume of production is also decreasing, but the imports are rising, enabling the consumption volume to remain relatively stable. This makes a sign that cheaper imports are currently pressuring domestic production in France. Producers from Poland, Belgium and the UK, which are the largest smoked salmon supplying countries to France with rapidly growing volumes of supplies, seem to benefit from this trend.

Smoked salmon constitutes one of the popular fish products widely used for direct consumption and the production of bakery, pizza, snacks, and Japanese dishes. Since the use of smoked salmon is widely established, no sharp shift in consumption is currently expected. Population growth and rising incomes, which, in a broader context, reflect the overall GDP growth, are to remain key fundamentals behind the demand for smoked salmon.

In early 2020, however, the global economy entered a period of crisis caused by the outbreak of the COVID-19 pandemic. In order to battle the spread of the virus, most countries in the world implemented quarantine measures that put on halt production and transport activity, which undermined economic growth heavily throughout the world. Large-scale quarantine measures constitute the key disruptive factor, due to which production dropped across almost every industry and entire economic sectors are closed, such as catering, non-food retail, and personal services.

The shutdown of the HoReCa sector led to a significant decrease in the production of bakery and Japanese fish dishes, which overall depresses the demand for smoked salmon. Moreover, in the context of falling incomes, consumers primarily tend to exclude non-staple goods from purchases, which include smoked salmon. Thus, a sharp drop in household incomes is a powerful factor that will restrain the smoked salmon market in the medium term.

On the other hand, given the reduction in the number of visits to shops and malls, consumers started to cook more at home. This promotes the demand for food home cooking ingredients, as well as for ready-to-eat products. Smoked salmon fits those requirements as it is typically sold ready for consumption and it could be stored for a certain period of time.

Accordingly, retail packaging adapted to different consumption situations becomes more popular: family packages, single person packages of various shapes and dimensions, snack packages, etc. People are less likely to visit stores, therefore the packaging with increased capacity may become more suitable. Given the limitations of the HoReCa sector and the reduced number of visits to traditional malls and shops, online retail is becoming a more important channel for the sale of food products. Moreover, contactless delivery becomes a ‘must-have’ option for retail services.

The high dependency of the smoked salmon market on international trade means that the lower transport activity and the possible disruption of smoked salmon supply chains are serious threats to the market. Thus, smoked salmon imports dropped to $1.7B in 2019 (IndexBox estimates). The total import value increased at an average annual rate of +6.9% over the period from 2012 to 2019. 

In value terms, Germany ($752M) constitutes the largest market for imported smoked salmon in the European Union, comprising 44% of total imports. The second position in the ranking was occupied by Italy ($292M), with a 17% share of total imports. It was followed by France, with a 11% share.

The smoked salmon import price in the European Union stood at $16,662 per tonne in 2019, shrinking by -5.8% against the previous year. Over the last seven-year period, it increased at an average annual rate of +3.0%. 

Prices varied noticeably by the country of destination; the country with the highest price was Austria ($19,632 per tonne), while Denmark ($12,596 per tonne) was amongst the lowest. From 2012 to 2019, the most notable rate of growth in terms of prices was attained by France, while the other leaders experienced more modest paces of growth.

Major supply chain risk comes from the disruption of established international supply chains including food handling and packaging intermediaries, as well as the distributor sector. Supply chains may be undermined by asynchronous quarantine measures taken in the involved countries as well as the restraints in deliveries. 

Given the pandemic-related limitation of the HoReCa and retail sector, the smoked salmon market is not expected to post any tangible gains in 2020. Afterward, the market is forecast to resume gradual growth, driven by gradual population growth and the recovery of the HoReCa industry. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.5% for the period from 2019 to 2030, which is projected to bring the market volume to 246K  tonnes by the end of 2030.

Source: IndexBox Platform

Product coverage:
• Prodcom 10202425 - Smoked Pacific, Atlantic and Danube salmon (including fillets, e xcluding heads, tails and maws)

This report provides an in-depth analysis of the smoked salmon market in the EU. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in the EU, split by region and country
• Trade (exports and imports) in the EU
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Austria
• Belgium
• Bulgaria
• Croatia
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Greece
• Hungary
• Ireland
• Italy
• Latvia
• Lithuania
• Luxembourg
• Malta
• Netherlands
• Poland
• Portugal
• Romania
• Slovakia
• Slovenia
• Spain
• Sweden
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2018–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Physical Terms, By Country, 2007–2020
Table 7:
Imports, In Value Terms, By Country, 2007–2020
Table 8:
Import Prices, By Country Of Destination, 2007–2020
Table 9:
Exports, In Physical Terms, By Country, 2007–2020
Table 10:
Exports, In Value Terms, By Country, 2007–2020
Table 11:
Export Prices, By Country Of Origin, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2020
Figure 17:
Production, In Value Terms, 2007–2020
Figure 18:
Production, By Country, 2020
Figure 19:
Production, In Physical Terms, By Country, 2007–2020
Figure 20:
Imports, In Physical Terms, 2007–2020
Figure 21:
Imports, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, By Country, 2020
Figure 23:
Imports, In Physical Terms, By Country, 2007–2020
Figure 24:
Imports, In Value Terms, By Country, 2007–2020
Figure 25:
Import Prices, By Country, 2007–2020
Figure 26:
Exports, In Physical Terms, 2007–2020
Figure 27:
Exports, In Value Terms, 2007–2020
Figure 28:
Exports, In Physical Terms, By Country, 2020
Figure 29:
Exports, In Physical Terms, By Country, 2007–2020
Figure 30:
Exports, In Value Terms, By Country, 2007–2020
Figure 31:
Export Prices, 2007–2020

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