Greece: Lactose Market 2024

Lactose Market Size in Greece

In 2022, after seven years of growth, there was decline in the Greek lactose market, when its value decreased by -0.8% to $X. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Lactose consumption peaked at $X in 2021, and then shrank slightly in the following year.

Lactose Production in Greece

In value terms, lactose production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 46% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Lactose Exports

Exports from Greece

In 2022, shipments abroad of lactose and lactose syrup increased by 8.7% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 60%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, lactose exports reached $X in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +32.8% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 81% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cyprus (X tons), North Macedonia (X tons) and Bulgaria (X tons) were the main destinations of lactose exports from Greece, with a combined 85% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of +32.9%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for lactose exported from Greece were Cyprus ($X), North Macedonia ($X) and Bulgaria ($X), with a combined 86% share of total exports.

Among the main countries of destination, Cyprus, with a CAGR of +39.2%, recorded the highest rates of growth with regard to 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 average lactose export price amounted to $X per ton, growing by 4.5% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lactose export price increased by +133.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 61% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lactose Imports

Imports into Greece

In 2022, purchases abroad of lactose and lactose syrup decreased by -5.6% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 14%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, lactose imports skyrocketed to $X in 2022. In general, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +63.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 25%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of lactose to Greece, accounting for a 36% share of total imports. Moreover, lactose imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+39.6% per year) and Belgium (+15.1% per year).

In value terms, the largest lactose suppliers to Greece were Germany ($X), the Netherlands ($X) and Belgium ($X), with a combined 78% share of total imports. Poland, France, Denmark and Slovakia lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, Poland, with a CAGR of +44.8%, recorded the highest growth rate of 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 average lactose import price stood at $X per ton in 2022, growing by 28% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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