Belgium: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Belgium

In 2022, after two years of growth, there was significant decline in the Belgian fish fat and oil market, when its value decreased by -29.1% to $X. In general, consumption continues to indicate a noticeable downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Fish Fats And Oils in Belgium

In value terms, fish fat and oil production shrank remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible slump. The pace of growth appeared the most rapid in 2021 with an increase of 99% against the previous year. Fish fat and oil production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Fish Fats And Oils

Exports from Belgium

After three years of growth, shipments abroad of fish fats and oils decreased by -93.5% to X tons in 2022. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 1,523% against the previous year. The exports peaked at X tons in 2021, and then dropped rapidly in the following year.

In value terms, fish fat and oil exports contracted rapidly to $X in 2022. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 1,053%. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for fish fat and oil exports from Belgium, accounting for a 81% share of total exports. Moreover, fish fat and oil exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), tenfold. Hungary (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-29.7% per year) and Hungary (+10.6% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for fish fats and oils exports from Belgium, comprising 72% of total exports. The second position in the ranking was held by France ($X), with an 11% share of total exports. It was followed by Hungary, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-24.4% per year) and Hungary (+16.1% per year).

Export Prices by Country

The average fish fat and oil export price stood at $X per ton in 2022, increasing by 13% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil export price increased by +24.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 35% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Iceland ($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 Italy (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into Belgium

After two years of growth, supplies from abroad of fish fats and oils decreased by -90.3% to X tons in 2022. Overall, imports faced a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 548% against the previous year. Imports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, fish fat and oil imports dropped notably to $X in 2022. In general, imports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2020 when imports increased by 607%. Imports peaked at $X in 2021, and then dropped notably in the following year.

Imports by Country

In 2022, the Netherlands (X tons) was the main fish fat and oil supplier to Belgium, accounting for a 91% share of total imports. Moreover, fish fat and oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The third position in this ranking was taken by Norway (X tons), with less than 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-12.6% per year) and Norway (-52.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of fish fats and oils to Belgium, comprising 90% of total imports. The second position in the ranking was held by France ($X), with a 4.4% share of total imports. It was followed by Norway, with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.0% per year) and Norway (-41.7% per year).

Import Prices by Country

The average fish fat and oil import price stood at $X per ton in 2022, with an increase of 139% against the previous year. Over the period under review, the import price enjoyed resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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