Europe: Lard Market 2024

Lard Market Size in Europe

The Europe lard market shrank modestly to $X in 2022, remaining constant against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Lard Production in Europe

In value terms, lard production contracted 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 pace of growth appeared the most rapid in 2017 with an increase of 40% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Lard Exports

Exports in Europe

In 2022, approx. X tons of lard were exported in Europe; with a decrease of -9.8% against the previous year's figure. In general, exports saw a slight decline. The pace of growth was the most pronounced in 2017 with an increase of 25% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, lard exports expanded sharply to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +63.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 51%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from Germany (X tons), Belgium (X tons), Italy (X tons) and Spain (X tons), together accounting for 70% of total export. It was distantly followed by the Netherlands (X tons) and France (X tons), together mixing up a 15% share of total exports. Poland (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Italy (with a CAGR of +11.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Belgium ($X) were the countries with the highest levels of exports in 2022, with a combined 55% share of total exports.

In terms of the main exporting countries, Italy, with a CAGR of +13.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, rising by 21% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lard export price increased by +90.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 37%. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.9%), while the other leaders experienced more modest paces of growth.

Lard Imports

Imports in Europe

Lard imports shrank slightly to X tons in 2022, falling by -4.8% compared with the previous year's figure. Overall, imports saw a slight reduction. The most prominent rate of growth was recorded in 2015 with an increase of 19%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, lard imports skyrocketed to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +108.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 55%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Spain (X tons) and Slovakia (X tons) were the major importers of lard in 2022, finishing at near 21% and 21% of total imports, respectively. It was distantly followed by the Netherlands (X tons), France (X tons), the UK (X tons), Belgium (X tons), Italy (X tons) and Germany (X tons), together generating a 43% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Slovakia ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 45% of total imports.

Slovakia, with a CAGR of +22.7%, recorded the highest growth rate of the value of imports, among 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 2022, the import price in Europe amounted to $X per ton, jumping by 29% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lard import price increased by +112.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 40%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform