EU: Oleo Oils Market 2024

Oleo Oils Market Size in the EU

In 2021, the EU oleo oils market decreased by -27.8% to $X, falling for the fourth year in a row after three years of growth. In general, consumption continues to indicate a abrupt shrinkage. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Oleo Oils Production in the EU

In value terms, oleo oils production stood at $X in 2021 estimated in export price. In general, production showed a slight downturn. The growth pace was the most rapid in 2016 with an increase of 17%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Oleo Oils Exports

Exports in the EU

In 2021, shipments abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a noticeable slump. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, oleo oils exports soared to $X in 2021. Overall, exports, however, saw a perceptible reduction. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Ireland (X tons) represented the main exporter of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, mixing up 67% of total exports. It was distantly followed by the Netherlands (X tons), France (X tons) and Germany (X tons), together constituting a 31% share of total exports. Denmark (X tons) followed a long way behind the leaders.

Ireland was also the fastest-growing in terms of the lard stearin, lard oil, oleostearin, oleo-oil and tallow oil exports, with a CAGR of +10.0% from 2012 to 2021. At the same time, Germany (+8.7%) and Denmark (+8.7%) displayed positive paces of growth. By contrast, the Netherlands (-1.8%) and France (-6.4%) illustrated a downward trend over the same period. While the share of Ireland (+43 p.p.) and Germany (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of France (-3.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ireland ($X) remains the largest oleo oils supplier in the European Union, comprising 65% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total exports. It was followed by France, with a 9% share.

In Ireland, oleo oils exports increased at an average annual rate of +13.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Netherlands (-3.2% per year) and France (-6.4% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, surging by 36% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+2.9%), while the other leaders experienced a decline in the export price figures.

Oleo Oils Imports

Imports in the EU

In 2021, approx. X tons of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were imported in the European Union; with a decrease of -17.6% on the year before. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +4.7% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 52% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, oleo oils imports reached $X in 2021. Total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 46%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Ireland represented the key importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in the European Union, with the volume of imports resulting at X tons, which was near 52% of total imports in 2021. Germany (X tons) held the second position in the ranking, distantly followed by Belgium (X tons), Italy (X tons) and the Netherlands (X tons). All these countries together held approx. 41% share of total imports. Poland (X tons) held a minor share of total imports.

Ireland was also the fastest-growing in terms of the lard stearin, lard oil, oleostearin, oleo-oil and tallow oil imports, with a CAGR of +24.4% from 2012 to 2021. At the same time, Belgium (+14.0%), Poland (+3.8%) and the Netherlands (+3.4%) displayed positive paces of growth. By contrast, Italy (-2.0%) and Germany (-5.8%) illustrated a downward trend over the same period. While the share of Ireland (+42 p.p.) and Belgium (+5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Italy (-6.1 p.p.) and Germany (-27.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest oleo oils importing markets in the European Union were Ireland ($X), Germany ($X) and Belgium ($X), together accounting for 73% of total imports.

Ireland, with a CAGR of +17.8%, 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

The import price in the European Union stood at $X per ton in 2021, rising by 36% against the previous year. In general, the import price, however, showed a pronounced decrease. Over the period under review, 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 importing countries. In 2021, the country with the highest price was Poland ($X per ton), while Ireland ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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