Belgium: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Belgium

The Belgian margarine and shortening market declined to $X in 2022, falling by -14.4% against the previous year. In general, consumption saw a deep reduction. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Margarine And Shortening Production in Belgium

In value terms, margarine and shortening production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a mild setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 11%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Margarine And Shortening Exports

Exports from Belgium

In 2022, the amount of margarine and shortening exported from Belgium contracted to X tons, remaining stable against 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 19%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, margarine and shortening exports soared to $X in 2022. Overall, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

France (X tons) was the main destination for margarine and shortening exports from Belgium, accounting for a 34% share of total exports. Moreover, margarine and shortening exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-0.1% per year) and Germany (+3.2% per year).

In value terms, France ($X) remains the key foreign market for margarine and shortening exports from Belgium, comprising 33% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+2.6% per year) and Germany (+5.5% per year).

Export Prices by Country

In 2022, the average margarine and shortening export price amounted to $X per ton, with an increase of 23% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening export price increased by +61.2% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 25%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Ireland ($X per ton), while the average price for exports to Hungary ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Belgium

In 2022, the amount of margarine and shortening imported into Belgium declined sharply to X tons, reducing by -23.6% on the year before. Over the period under review, imports saw a perceptible decline. The pace of growth was the most pronounced in 2021 with an increase of 69% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports reached $X in 2022. In general, imports saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 44%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Denmark (X tons) were the main suppliers of margarine and shortening imports to Belgium, together accounting for 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +21.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of margarine and shortening to Belgium, comprising 50% of total imports. The second position in the ranking was taken by Germany ($X), with a 21% share of total imports. It was followed by Denmark, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands stood at -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.6% per year) and Denmark (+21.0% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, picking up by 46% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening import price increased by +73.5% against 2015 indices. 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 Poland ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :