Greece: Animal Fats Market 2025

Animal Fats Market Size in Greece

In 2021, the Greek animal fats market decreased by -18.8% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, the total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.4% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted dramatically in the following year.

Animal Fats Production in Greece

In value terms, animal fats production fell to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 30% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Animal Fats Exports

Exports from Greece

In 2021, exports of animal fats and oils from Greece surged to X tons, rising by 515% against the previous year's figure. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 1,197%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, animal fats exports soared to $X in 2021. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for animal fats exports from Greece, with a 71% share of total exports. Moreover, animal fats exports to the Netherlands exceeded the volume sent to the second major destination, Italy (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+14.2% per year) and Bulgaria (+16.1% per year).

In value terms, the Netherlands ($X), Italy ($X) and Bulgaria ($X) were the largest markets for animal fats exported from Greece worldwide.

Italy, with a CAGR of +30.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average animal fats export price stood at $X per ton in 2021, picking up by 244% against the previous year. Over the period under review, the export price showed a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+14.3%).

Animal Fats Imports

Imports into Greece

In 2021, supplies from abroad of animal fats and oils increased by 86% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 20,598%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, animal fats imports soared to $X in 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 3,780%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Bulgaria (X tons) and Cyprus (X tons) were the main suppliers of animal fats imports to Greece.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +37.7%).

In value terms, Bulgaria ($X) constituted the largest supplier of animal fats and oils to Greece, comprising 67% of total imports. The second position in the ranking was taken by Cyprus ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Bulgaria amounted to +51.8%.

Import Prices by Country

In 2021, the average animal fats import price amounted to $X per ton, picking up by 6% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 an increase of 415%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the price for Cyprus stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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