Europe: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Europe

The Europe non-cane molasses market expanded rapidly to $X in 2022, picking up by 9.9% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Non-Cane Molasses Production in Europe

In value terms, non-cane molasses production rose notably to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 20% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports in Europe

In 2022, overseas shipments of molasses (excluding cane molasses) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 35%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, non-cane molasses exports soared to $X in 2022. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Russia was the major exporter of molasses (excluding cane molasses) in Europe, with the volume of exports resulting at X tons, which was near 32% of total exports in 2022. Belarus (X tons) took the second position in the ranking, followed by Poland (X tons), Germany (X tons) and the Netherlands (X tons). All these countries together took near 42% share of total exports. Belgium (X tons), Ukraine (X tons), Latvia (X tons), Serbia (X tons), Slovakia (X tons), Austria (X tons), Lithuania (X tons) and Croatia (X tons) took a little share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of molasses (excluding cane molasses). At the same time, Latvia (+105.1%), Austria (+27.9%), Belarus (+25.7%), Belgium (+17.5%), Croatia (+15.4%), Poland (+4.9%) and Slovakia (+2.1%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +105.1% from 2012-2022. By contrast, the Netherlands (-1.4%), Lithuania (-2.5%), Germany (-3.3%), Serbia (-4.1%) and Ukraine (-17.3%) illustrated a downward trend over the same period. While the share of Belarus (+12 p.p.), Poland (+3.9 p.p.), Belgium (+3.3 p.p.), Latvia (+2.8 p.p.) and Austria (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-2 p.p.), Germany (-4.9 p.p.) and Ukraine (-18.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-cane molasses supplying countries in Europe were Russia ($X), Poland ($X) and Germany ($X), with a combined 52% share of total exports. Belarus, the Netherlands, Austria, Slovakia, Ukraine, Serbia, Latvia, Belgium, Lithuania and Croatia lagged somewhat behind, together accounting for a further 40%.

Among the main exporting countries, Latvia, with a CAGR of +90.3%, 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, surging by 5% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2013 an increase of 21% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.4%), while the other leaders experienced more modest paces of growth.

Non-Cane Molasses Imports

Imports in Europe

In 2022, supplies from abroad of molasses (excluding cane molasses) decreased by -0.6% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, non-cane molasses imports soared to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hungary (X tons) and Belgium (X tons) represented roughly 29% of total imports in 2022. Italy (X tons) held a 9.1% share (based on physical terms) of total imports, which put it in second place, followed by the UK (8.6%), France (7.4%), the Netherlands (7.1%) and Latvia (4.9%). Portugal (X tons), Spain (X tons), Germany (X tons), the Czech Republic (X tons), Denmark (X tons) and Lithuania (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Latvia (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Hungary ($X) and the UK ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 39% of total imports. Italy, France, the Netherlands, Portugal, Spain, Germany, the Czech Republic, Latvia, Denmark and Lithuania lagged somewhat behind, together comprising a further 46%.

Latvia, with a CAGR of +15.4%, 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 2022, the import price in Europe amounted to $X per ton, rising by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2020 when the import price increased by 18%. The level of import peaked in 2022 and is likely to see steady 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 ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform