Benelux: Ghee Market 2024

Ghee Market Size in Benelux

The Benelux ghee market declined to $X in 2022, which is down by -5.7% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Ghee Production in Benelux

In value terms, ghee production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The country with the largest volume of ghee production was the Netherlands (X tons), accounting for 100% of total volume.

In the Netherlands, ghee production remained relatively stable over the period from 2012-2022.

Ghee Exports

Exports in Benelux

In 2022, exports of ghee in Benelux dropped slightly to X tons, with a decrease of -3.5% compared with 2021 figures. The total export volume increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by 20% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, ghee exports skyrocketed to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +51.0% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 43%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands represented the largest exporter of ghee in Benelux, with the volume of exports recording X tons, which was approx. 76% of total exports in 2022. It was distantly followed by Belgium (X tons), making up a 24% share of total exports.

The Netherlands was also the fastest-growing in terms of the ghee exports, with a CAGR of +2.2% from 2012 to 2022. Belgium (-2.0%) illustrated a downward trend over the same period. The Netherlands (+8.5 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -8.6% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) remains the largest ghee supplier in Benelux, comprising 75% of total exports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total exports.

In the Netherlands, ghee exports expanded at an average annual rate of +7.7% over the period from 2012-2022.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, with an increase of 35% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by +54.9% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 50% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.4%).

Ghee Imports

Imports in Benelux

In 2022, approx. X tons of ghee were imported in Benelux; with a decrease of -15.3% on 2021 figures. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 87%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, ghee imports rose notably to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 81%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Belgium was the major importing country with an import of around X tons, which resulted at 76% of total imports. It was distantly followed by the Netherlands (X tons), comprising a 23% share of total imports.

Belgium was also the fastest-growing in terms of the ghee imports, with a CAGR of +1.1% from 2012 to 2022. The Netherlands (-3.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium increased by +9.7 percentage points.

In value terms, Belgium ($X) constitutes the largest market for imported ghee in Benelux, comprising 78% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to +5.7%.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, rising by 35% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +50.0% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by 65% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%).

Source: IndexBox Platform