Smoked herring market in Greece

Earlier Report Observations

The Greek smoked herring market contracted significantly between 2018 and 2023, with consumption volume dropping by nearly 44% from 616 t to 347 t. The downturn was particularly sharp in 2019 and 2020, followed by relative stability in 2021 and further gradual declines through 2023.

A strong recovery took place in 2024, when market volume jumped 28% to 443 t. This rebound was supported by earlier investments in production capacity, such as the fully automated smoking facilities commissioned by TSIALIOS in 2022, which increased daily output capability by 34%.

Production smoked herring in Greece

In value, 2017-2020, K $ US

Greece's smoked herring production declined for the second consecutive year. In 2020, output was valued at 1 961 K $ US, marking a significant drop of 10.7% compared to 2019. Over the period from 2017 to 2020, production decreased by 4.6%, which translates to an annualized rate of 1.6%. The highest value was recorded in 2018 at 2 997 K $ US, with the largest increase that year of 45.8%. The most substantial decline occurred in 2019, at 26.7%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, t

Greece's smoked herring production declined for the second consecutive year. In 2020, production reached 379.3 t, down by 25.3% from the previous year. From 2017 to 2020, overall production decreased by 4.4%, with a compound annual growth rate of 1.5%. The peak was in 2018 at 564.8 t, which saw the largest increase of 42.4%.

Annual dynamics of production in Greece in kind, 2017-2020, t

Exports smoked herring from Greece

Exports in kind, t

Greece's smoked herring exports declined for the second consecutive year. In 2020, exports stood at 192.2 t, reflecting a modest fall of 3.0% compared to 2019. Over the 2017-2020 period, exports increased by 5.1%, with a compound annual growth rate of 1.7%. The highest level was in 2018 at 205.5 t, with the largest increase that year of 12.3%. The most significant decline occurred in 2019, at 3.6%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Italy was the dominant market for Greece's smoked herring exports in kind, accounting for 82.1% of total flows, while other countries made up the remaining share.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Greece's smoked herring export volume declined for the second consecutive year. In 2020, export volume reached 1 040 K $ US, showing a decline of 3.3% from the previous year. Between 2017 and 2020, exports increased by 8.2%, equating to an annualized rate of 2.7%. The maximum value was recorded in 2018 at 1 156 K $ US, with the largest increase that year of 20.3%. The largest decline was in 2019, at 7.0%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

In the 2017-2020 period, the structure of Greece's smoked herring exports in value terms was dominated by Italy, which absorbed 80.0% of total flows, with a large number of minor partners making up the rest.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports smoked herring to Greece

Imports in kind, t

Greece's smoked herring import volume declined for the second consecutive year. In 2020, imports amounted to 214.7 t, representing a drop of 1.3% compared to 2019. The highest value was recorded in 2018 at 256.1 t, with the largest increase that year of 19.9%. The most significant decline occurred in 2019, at 15.1%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, the Netherlands remained the dominant partner for Greece's smoked herring imports in kind, holding an 88.3% share of total flows, while other markets formed a long tail.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

Greece's smoked herring import volume declined for the second consecutive year. In 2020, imports totalled 734 K $ US, indicating a slight fall of 1.4% year-over-year. Over the 2017-2020 period, imports decreased by 17%, with a compound annual growth rate of 6.0%. The peak was in 2018 at 963 K $ US, with the largest increase that year of 9.0%. The largest decline was in 2019, at 22.7%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

In 2017-2020, the Netherlands was the key supplier of smoked herring to Greece in value terms, taking 85.6% of total imports, while a diversified group of other countries accounted for the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020