Belgium: Inulin Market 2024

Inulin Market Size in Belgium

In 2021, the Belgian inulin market increased by 7.9% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a abrupt curtailment. Inulin consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Inulin Production in Belgium

In value terms, inulin production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. Over the period under review, production attained the peak level in 2021 and is expected to retain growth in the near future.

Inulin Exports

Exports from Belgium

In 2021, after three years of growth, there was decline in overseas shipments of inulin, when their volume decreased by -1.5% to X tons. The total export volume increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 15%. As a result, the exports attained the peak of X tons, and then shrank modestly in the following year.

In value terms, inulin exports reached $X in 2021. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 19% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Indonesia (X tons) and Germany (X tons) were the main destinations of inulin exports from Belgium, with a combined 31% share of total exports. These countries were followed by Italy, Spain, the Netherlands, China, Israel, Japan, France, the UK, Poland and Taiwan (Chinese), which together accounted for a further 43%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +23.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inulin exported from Belgium were the United States ($X), Indonesia ($X) and Italy ($X), with a combined 30% share of total exports. These countries were followed by Germany, Spain, the Netherlands, China, France, the UK, Japan, Israel, Poland and Taiwan (Chinese), which together accounted for a further 44%.

China, with a CAGR of +23.0%, 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 2021, the average inulin export price amounted to $X per ton, with an increase of 9.7% against the previous year. Over the period under review, the export price, however, showed a mild downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Indonesia ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+1.7%), while the prices for the other major destinations experienced a decline.

Inulin Imports

Imports into Belgium

In 2021, approx. X tons of inulin were imported into Belgium; which is down by -70.1% on 2020 figures. Overall, imports, however, enjoyed a slight expansion. The growth pace was the most rapid in 2020 when imports increased by 256% against the previous year. As a result, imports attained the peak of X tons, and then fell notably in the following year.

In value terms, inulin imports shrank significantly to $X in 2021. Over the period under review, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 246%. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

Chile (X tons), the Netherlands (X tons) and Mexico (X tons) were the main suppliers of inulin imports to Belgium, together comprising 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +72.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest inulin suppliers to Belgium were the Netherlands ($X), Chile ($X) and Mexico ($X), with a combined 80% share of total imports.

Mexico, with a CAGR of +92.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average inulin import price stood at $X per ton in 2021, picking up by 43% against the previous year. Over the last nine years, it increased at an average annual rate of +4.2%. As a result, import price reached 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 Mexico ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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