The canning industry in Spain, faced with the challenge of revitalizing a €2 billion sector

Published Apr 12, 2023

Tridge summary

The Spanish canning industry is facing a crisis due to rising industrial costs and a decrease in production, caused by a drop in domestic consumption and stagnant exports. In 2022, canning production in Spain fell by 7.6%, but the value of production grew by 5.7%, reaching €1,745 million. Imports of finished canned food grew by over 20%. The industry is struggling due to inflation and a reduction in demand for canned food, especially tuna. To remain competitive, the industry is focusing on adding value to their products and improving quality and innovation. They are also seeking government support by reducing VAT on sea products and delaying the plastic tax. The industry is also investing over €200 million to modernize production and build new plants.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The canning sector is trying to weather what many call the “perfect storm”, with skyrocketing industrial costs and a significant drop in production as a result of a drop in domestic consumption and stagnant exports. This has resulted in a further decline in business results, which are having as a more evident result a slowdown in a part of industrial projects, key to maintaining the competitiveness of the sector, mainly at an international level, where it comes face to face with Powers like Thailand, topical due to the free trade agreement that the EU is negotiating with the Southeast Asian country. In data, canning production in Spain fell by 7.6% in 2022, in line with the decline registered a year earlier, while, in value, the progression was 5.7%, with which the canning processing industry of fish and shellfish was quantified at €1,745 million. Parallel to this drop in production, imports of finished canned food grew by more than 20% in 2022, with Ecuador, Vietnam and Morocco ...

Source: Alimarket