EU: Chicory Market 2024

Chicory Market Size in the EU

After two years of growth, the EU chicory market decreased by -0.8% to $X in 2021. Over the period under review, consumption, however, showed a abrupt decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Chicory Production in the EU

In value terms, chicory production contracted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a dramatic decrease. The growth pace was the most rapid in 2017 when the production volume increased by 70% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Belgium (X tons) constituted the country with the largest volume of chicory production, comprising approx. 70% of total volume. Moreover, chicory production in Belgium exceeded the figures recorded by the second-largest producer, the Netherlands (X tons), sixfold. France (X tons) ranked third in terms of total production with a 9.2% share.

In Belgium, chicory production increased at an average annual rate of +3.4% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: the Netherlands (+0.3% per year) and France (-10.9% per year).

The average chicory yield contracted to X tons per ha in 2021, remaining stable against the year before. The yield figure increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. The level of yield peaked at X tons per ha in 2020, and then declined modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of chicory production in the European Union amounted to X ha, surging by 1.6% on the previous year. In general, the harvested area, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 9.6%. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2021, the harvested area remained at a lower figure.

Chicory Exports

Exports in the EU

In 2021, shipments abroad of chicory was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 411%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, chicory exports surged to $X in 2021. Overall, exports saw resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 268% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

The Netherlands was the largest exporting country with an export of about X tons, which finished at 50% of total exports. Hungary (X tons) took the second position in the ranking, followed by Belgium (X tons), France (X tons) and Poland (X tons). All these countries together took approx. 48% share of total exports. Germany (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to chicory exports from the Netherlands stood at +18.5%. At the same time, Hungary (+924.9%), Belgium (+345.0%), Poland (+53.4%), France (+29.0%) and Germany (+8.3%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +924.9% from 2012-2021. From 2012 to 2021, the share of Hungary, Belgium, Poland and France increased by +17, +15, +5.9 and +2.6 percentage points, respectively.

In value terms, the Netherlands ($X), Hungary ($X) and Belgium ($X) constituted the countries with the highest levels of exports in 2021, together comprising 89% of total exports.

Hungary, with a CAGR of +669.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, growing by 44% against the previous year. In general, the export price, however, showed a deep slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Hungary ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-4.4%), while the other leaders experienced a decline in the export price figures.

Chicory Imports

Imports in the EU

For the third year in a row, the European Union recorded growth in supplies from abroad of chicory, which increased by 5.3% to X tons in 2021. In general, imports recorded prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 49% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, chicory imports skyrocketed to $X in 2021. Over the period under review, imports showed strong growth. The growth pace was the most rapid in 2020 when imports increased by 58% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Italy (X tons), Hungary (X tons), Spain (X tons) and Belgium (X tons) represented roughly 78% of total imports in 2021. Portugal (X tons) held the next position in the ranking, followed by France (X tons). All these countries together held near 11% share of total imports.

From 2012 to 2021, the biggest increases were in Hungary (with a CAGR of +320.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and Italy ($X) were the countries with the highest levels of imports in 2021, together comprising 56% of total imports. Belgium, Hungary, France and Portugal lagged somewhat behind, together accounting for a further 21%.

Hungary, with a CAGR of +190.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, increasing by 30% against the previous year. Over the period under review, the import price, however, saw a pronounced decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Spain ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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