Belgium: Soups Market 2024

Soups Market Size in Belgium

The Belgian soups market shrank to $X in 2021, almost unchanged from the previous year. Over the period under review, consumption, however, recorded a pronounced contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Soups Production in Belgium

In value terms, soups production reached $X in 2021 estimated in export price. Overall, the total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.2% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 22%. Soups production peaked in 2021 and is likely to see steady growth in years to come.

Soups Exports

Exports from Belgium

In 2021, overseas shipments of soups and broths increased by 4.5% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 18%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, soups exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 24%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), Sweden (X tons) and the Netherlands (X tons) were the main destinations of soups exports from Belgium, with a combined 57% share of total exports. These countries were followed by France, Luxembourg, the United States and the UK, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +121.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and the Netherlands ($X) were the largest markets for soups exported from Belgium worldwide, with a combined 55% share of total exports. France, the United States, the UK and Luxembourg lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, the United States, with a CAGR of +91.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soups export price stood at $X per ton in 2021, surging by 2.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 8.5%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Soups Imports

Imports into Belgium

In 2021, overseas purchases of soups and broths increased by 5.2% to X tons, rising for the second year in a row after four years of decline. In general, imports, however, continue to indicate a mild decline. The pace of growth appeared the most rapid in 2020 with an increase of 8.4%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, soups imports dropped modestly to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2020 with an increase of 11%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest soups supplier to Belgium, accounting for a 52% share of total imports. Moreover, soups imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was held by the Netherlands (X tons), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+18.7% per year) and the Netherlands (-12.6% per year).

In value terms, the largest soups suppliers to Belgium were France ($X), the Netherlands ($X) and Germany ($X), with a combined 60% share of total imports. These countries were followed by Hungary, Spain, Italy, Portugal and Poland, which together accounted for a further 27%.

In terms of the main suppliers, Spain, with a CAGR of +11.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average soups import price amounted to $X per ton, waning by -7% against the previous year. Over the period under review, the import price continues to indicate a slight downturn. The pace of growth was the most pronounced in 2018 when the average import price increased by 6.4%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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