Tuna Market in Germany Reached $1.5B

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

The revenue of the tuna market in Germany amounted to $1.5B in 2018, surging by 12% 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 market value increased at an average annual rate of +1.9% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Tuna market size peaked at $1.6B in 2013; however, from 2014 to 2018, consumption remained at a lower figure.

Production in Germany

In 2018, the amount of tuna (prepared or preserved) produced in Germany totaled 163K tonnes, increasing by 3.1% against the previous year. Overall, tuna production, however, continues to indicate a relatively flat trend pattern.

Exports from Germany

In 2018, the exports of tuna (prepared or preserved) from Germany totaled 15K tonnes, going up by 8.9% against the previous year. In value terms, tuna exports stood at $75M (IndexBox estimates) in 2018.

Exports by Country

Austria (2.9K tonnes), Belgium (1.8K tonnes) and the Netherlands (1.5K tonnes) were the main destinations of tuna exports from Germany, together comprising 42% of total exports. Romania, Poland, France, Denmark, Hungary, the UK, Finland, Switzerland and the Czech Republic lagged somewhat behind, together comprising a further 43%.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Romania, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tuna exported from Germany were Austria ($15M), Belgium ($11M) and the Netherlands ($7.9M), with a combined 45% share of total exports.

Export Prices by Country

In 2018, the average tuna export price amounted to $5,047 per tonne, jumping by 15% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +1.8%. The export price peaked at $5,726 per tonne in 2013; however, from 2014 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Switzerland ($6,474 per tonne), while the average price for exports to Hungary ($2,890 per tonne) was amongst the lowest.

Imports into Germany

In 2018, the imports of tuna (prepared or preserved) into Germany stood at 93K tonnes, surging by 10% against the previous year. In general, tuna imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 23% y-o-y. Imports peaked in 2018 and are likely to see steady growth in the immediate term. In value terms, tuna imports totaled $466M (IndexBox estimates) in 2018.

Imports by Country

Ecuador (23K tonnes), the Philippines (16K tonnes) and Papua New Guinea (13K tonnes) were the main suppliers of tuna imports to Germany, together accounting for 55% of total imports. These countries were followed by the Netherlands, Spain, Vietnam and Italy, which together accounted for a further 30%.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Spain, while imports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($116M), the Philippines ($68M) and Papua New Guinea ($61M) appeared to be the largest tuna suppliers to Germany, with a combined 53% share of total imports. The Netherlands, Spain, Italy and Vietnam lagged somewhat behind, together accounting for a further 32%.

Import Prices by Country

In 2018, the average tuna import price amounted to $5,005 per tonne, going up by 11% against the previous year. Over the period under review, the import price indicated a strong increase from 2007 to 2018: it increased at an average annual rate of +4.1% over the last eleven-year period.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($7,507 per tonne), while the price for Vietnam ($3,454 per tonne) was amongst the lowest.

Source: IndexBox Platform