Belgium: Organ Extracts Market 2024

Organ Extracts Market Size in Belgium

In 2021, the Belgian organ extracts market increased by 29% to $X, rising for the third year in a row after two years of decline. Overall, consumption enjoyed a buoyant expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Organ Extracts Production in Belgium

In value terms, organ extracts production totaled less than $X in 2021 estimated in export price. Overall, production enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of 479%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Organ Extracts Exports

Exports from Belgium

Organ extracts exports from Belgium surged to X tons in 2021, picking up by 95% compared with the previous year's figure. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 227%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, organ extracts exports expanded to $X in 2021. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.2% against 2015 indices. The pace of growth was the most pronounced in 2013 when exports increased by 40% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) was the main destination for organ extracts exports from Belgium, with a 48% share of total exports. Moreover, organ extracts exports to Hong Kong SAR exceeded the volume sent to the second major destination, the UK (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR totaled +145.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-1.1% per year) and Singapore (+47.8% per year).

In value terms, Germany ($X), the UK ($X) and Singapore ($X) were the largest markets for organ extracts exported from Belgium worldwide, together comprising 53% of total exports. Switzerland, France, Italy, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further 22%.

Hong Kong SAR, with a CAGR of +75.0%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average organ extracts export price amounted to $X per kg, dropping by -46.6% against the previous year. In general, the export price, however, saw a temperate increase. The most prominent rate of growth was recorded in 2019 an increase of 393% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per kg), while the average price for exports to Hong Kong SAR ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+32.9%), while the prices for the other major destinations experienced more modest paces of growth.

Organ Extracts Imports

Imports into Belgium

Organ extracts imports into Belgium shrank markedly to X tons in 2021, with a decrease of -67.8% on the previous year. In general, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2016 when imports increased by 265%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, organ extracts imports shrank to $X in 2021. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 260%. Over the period under review, imports reached the maximum at $X in 2020, and then declined in the following year.

Imports by Country

The United States (X tons), Spain (X tons) and Denmark (X kg) were the main suppliers of organ extracts imports to Belgium, with a combined 82% share of total imports. The UK, Israel, the Netherlands, France and Germany lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +167.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of extracts of glands or other organs or of their secretions to Belgium, comprising 84% of total imports. The second position in the ranking was held by Denmark ($X), with a 12% share of total imports. It was followed by the UK, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+36.3% per year) and the UK (+38.2% per year).

Import Prices by Country

In 2021, the average organ extracts import price amounted to $X per ton, picking up by 195% against the previous year. Overall, the import price posted prominent growth. The growth pace was the most rapid in 2017 an increase of 545%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+38.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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