Italy: Preserved Sardines Market 2024

Preserved Sardines Market Size in Italy

In 2022, the Italian preserved sardines market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption continues to indicate a perceptible decline. Preserved sardines consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Preserved Sardines Production in Italy

In value terms, preserved sardines production dropped markedly to $X in 2022 estimated in export price. Overall, production saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Preserved Sardines Exports

Exports from Italy

After three years of decline, shipments abroad of sardines (prepared or preserved) increased by X% to X tons in 2022. In general, exports, however, recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved sardines exports stood at $X in 2022. Over the period under review, exports, however, recorded a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for preserved sardines exports from Italy, accounting for a X% share of total exports. Moreover, preserved sardines exports to Germany exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Belgium (X% per year).

In value terms, the largest markets for preserved sardines exported from Italy were Germany ($X), France ($X) and Belgium ($X), with a combined X% share of total exports. The United States, Australia, the Czech Republic, Denmark, Poland, Austria, Switzerland, Greece, Malta and Finland lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average preserved sardines export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price, however, recorded mild growth. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malta ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Italy

In 2022, the amount of sardines (prepared or preserved) imported into Italy skyrocketed to X tons, with an increase of X% compared with 2021. Overall, imports, however, recorded a perceptible contraction. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, preserved sardines imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Morocco (X tons) constituted the largest supplier of preserved sardines to Italy, accounting for a X% share of total imports. Moreover, preserved sardines imports from Morocco exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Portugal (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Morocco totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Portugal (X% per year).

In value terms, Morocco ($X) constituted the largest supplier of sardines (prepared or preserved) to Italy, comprising X% of total imports. The second position in the ranking was held by Portugal ($X), with a X% share of total imports. It was followed by the Netherlands, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Morocco stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average preserved sardines import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the Netherlands ($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 Philippines (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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