Europe: Oleo Oils Market 2024

Oleo Oils Market Size in Europe

In 2021, the Europe oleo oils market decreased by -14.3% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption saw a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Oleo Oils Production in Europe

In value terms, oleo oils production amounted to $X in 2021 estimated in export price. Over the period under review, production showed a slight curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 10% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Oleo Oils Exports

Exports in Europe

In 2021, overseas shipments of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -21.1% to X tons, falling for the third year in a row after three years of growth. Total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -34.2% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 66%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, oleo oils exports soared to $X in 2021. Total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +30.4% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by 68% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK was the major exporting country with an export of around X tons, which finished at 56% of total exports. Ireland (X tons) took a 29% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (7.9%). France (X tons) and Germany (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +10.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Ireland ($X) and the Netherlands ($X) constituted the countries with the highest levels of exports in 2021, together comprising 92% of total exports.

In terms of the main exporting countries, Ireland, with a CAGR of +13.2%, 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

The export price in Europe stood at $X per ton in 2021, jumping by 53% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oleo oils export price increased by +74.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in France ($X per ton) and Germany ($X per ton), while the UK ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Oleo Oils Imports

Imports in Europe

In 2021, purchases abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -11.8% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 36% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, oleo oils imports skyrocketed to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Ireland was the main importing country with an import of around X tons, which amounted to 47% of total imports. It was distantly followed by Germany (X tons), the UK (X tons), Belgium (X tons) and Italy (X tons), together constituting a 43% share of total imports. The following importers - the Netherlands (X tons) and Poland (X tons) - each recorded an 8.1% 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%), Germany (-5.8%) and the UK (-13.6%) illustrated a downward trend over the same period. While the share of Ireland (+40 p.p.) and Belgium (+5.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Germany (-12.2 p.p.) and the UK (-27.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ireland ($X), Germany ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2021, with a combined 66% share of total imports.

Among the main importing countries, Ireland, with a CAGR of +17.8%, recorded the highest rates of growth with regard to the value of imports, 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 Europe stood at $X per ton in 2021, picking up by 35% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: 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