Belgium: Wheat Starch Market 2024

Wheat Starch Market Size in Belgium

For the sixth year in a row, the Belgian wheat starch market recorded growth in sales value, which increased by 46% to $X in 2021. Overall, consumption enjoyed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wheat Starch Production in Belgium

In value terms, wheat starch production surged to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Wheat Starch Exports

Exports from Belgium

In 2019, shipments abroad of wheat starch decreased by -11.3% to X tons, falling for the second year in a row after two years of growth. In general, total exports indicated a pronounced increase from 2012 to 2019: its volume increased at an average annual rate of +2.9% over the last seven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -11.8% against 2017 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 47%. As a result, the exports attained the peak of X tons. From 2015 to 2019, the growth of the exports remained at a lower figure.

In value terms, wheat starch exports reduced to $X in 2019. Overall, total exports indicated perceptible growth from 2012 to 2019: its value increased at an average annual rate of +3.5% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +26.2% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2019, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of wheat starch exports from Belgium, together accounting for 67% of total exports.

From 2012 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +14.5%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the Netherlands ($X) and Germany ($X) appeared to be the largest markets for wheat starch exported from Belgium worldwide, together accounting for 64% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +8.7%, 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

In 2019, the average wheat starch export price amounted to $X per ton, surging by 4.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 12% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2019, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2019, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Starch Imports

Imports into Belgium

In 2021, after two years of decline, there was significant growth in overseas purchases of wheat starch, when their volume increased by 9.2% to X tons. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 41%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, wheat starch imports rose remarkably to $X in 2021. In general, imports, however, showed a perceptible shrinkage. The growth pace was the most rapid in 2013 with an increase of 43%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest wheat starch supplier to Belgium, accounting for a 55% share of total imports. Moreover, wheat starch imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-1.9% per year) and France (-2.5% per year).

In value terms, Germany ($X) constituted the largest supplier of wheat starch to Belgium, comprising 58% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 21% share of total imports. It was followed by France, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-8.8% per year) and France (-3.1% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2017 an increase of 34%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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