EU: Sugars Market 2024

Sugars Market Size in the EU

In 2021, the EU sugars market increased by 7.9% to $X, rising for the third consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sugars Production in the EU

In value terms, sugars production fell slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 9.2% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Sugars Exports

Exports in the EU

After three years of decline, overseas shipments of sugars, sugar ethers and salts increased by 6.2% to X tons in 2021. The total export volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 9.7% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, sugars exports skyrocketed to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +101.7% against 2015 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany was the major exporting country with an export of around X tons, which reached 48% of total exports. France (X tons) took the second position in the ranking, followed by Austria (X tons) and the Netherlands (X tons). All these countries together held approx. 42% share of total exports. The following exporters - Denmark (X tons) and Belgium (X tons) - together made up 7.2% of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of sugars, sugar ethers and salts. At the same time, the Netherlands (+11.4%), Belgium (+10.7%), Denmark (+3.4%) and France (+2.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +11.4% from 2012-2021. By contrast, Austria (-1.2%) illustrated a downward trend over the same period. While the share of the Netherlands (+2.9 p.p.) and Belgium (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Germany (-3.6 p.p.) and Austria (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), France ($X) and Denmark ($X) were the countries with the highest levels of exports in 2021, with a combined 57% share of total exports. Austria, Belgium and the Netherlands lagged somewhat behind, together accounting for a further 24%.

The Netherlands, with a CAGR of +14.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the export price in the European Union amounted to $X per ton, with an increase of 8.7% against the previous year. Export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars export price increased by +93.8% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 31%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+6.3%), while the other leaders experienced more modest paces of growth.

Sugars Imports

Imports in the EU

For the third consecutive year, the European Union recorded growth in purchases abroad of sugars, sugar ethers and salts, which increased by 18% to X tons in 2021. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sugars imports soared to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +127.6% against 2015 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 30%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

In 2021, Spain (X tons), distantly followed by Belgium (X tons), Poland (X tons), Italy (X tons), the Netherlands (X tons), France (X tons) and Germany (X tons) were the major importers of sugars, sugar ethers and salts, together achieving 83% of total imports. The Czech Republic (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +13.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2021, with a combined 38% share of total imports.

Germany, with a CAGR of +13.7%, saw the highest growth rate of 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, growing by 1.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2017 when the import price increased by 25% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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