Denmark: Animal Fats Market 2024

Animal Fats Market Size in Denmark

For the third year in a row, the Danish animal fats market recorded growth in sales value, which increased by 145% to $X in 2021. Overall, consumption showed a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Animal Fats Production in Denmark

In value terms, animal fats production dropped significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 161% against the previous year. Animal fats production peaked at $X in 2020, and then declined dramatically in the following year.

Animal Fats Exports

Exports from Denmark

After three years of growth, shipments abroad of animal fats and oils decreased by -25.7% to X tons in 2021. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,092%. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, animal fats exports contracted sharply to $X in 2021. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 1,102% against the previous year. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Germany (X tons) was the main destination for animal fats exports from Denmark, accounting for a 55% share of total exports. Moreover, animal fats exports to Germany exceeded the volume sent to the second major destination, France (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +125.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+48.5% per year) and Italy (+58.3% per year).

In value terms, Germany ($X) remains the key foreign market for animal fats and oils exports from Denmark, comprising 59% of total exports. The second position in the ranking was held by France ($X), with a 19% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +125.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+55.4% per year) and Italy (+59.3% per year).

Export Prices by Country

The average animal fats export price stood at $X per ton in 2021, surging by 7.7% against the previous year. Over the period under review, the export price enjoyed moderate growth. The growth pace was the most rapid in 2017 when the average export price increased by 298% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Norway ($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 France (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into Denmark

In 2021, overseas purchases of animal fats and oils increased by 427% to X tons, rising for the third consecutive year after two years of decline. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 584%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, animal fats imports soared to $X in 2021. In general, imports posted a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 558%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) constituted the largest animal fats supplier to Denmark, with a 78% share of total imports. Moreover, animal fats imports from Mexico exceeded the figures recorded by the second-largest supplier, Norway (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+53.0% per year) and the United States (+287.5% per year).

In value terms, the largest animal fats suppliers to Denmark were Norway ($X), Mexico ($X) and the United States ($X), together comprising 93% of total imports.

The United States, with a CAGR of +218.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 animal fats import price amounted to $X per ton, with a decrease of -69.7% against the previous year. Overall, the import price continues to indicate a significant decrease. The growth pace was the most rapid in 2019 when the average import price increased by 62%. The import price peaked at $X per ton in 2012; however, from 2013 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 Norway ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+7.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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