Ireland: Soups Market 2024

Soups Market Size in Ireland

In 2021, the Irish soups market decreased by -6.3% to $X, falling for the fourth year in a row after two years of growth. In general, consumption continues to indicate a abrupt slump. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Soups Production in Ireland

In value terms, soups production soared to $X in 2021 estimated in export price. In general, production, however, showed a deep slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21% against the previous year. Soups production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Soups Exports

Exports from Ireland

In 2021, shipments abroad of soups and broths decreased by -14.4% to X tons for the first time since 2014, thus ending a six-year rising trend. Over the period under review, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 176% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then fell in the following year.

In value terms, soups exports contracted slightly to $X in 2021. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 175% against the previous year. The exports peaked at $X in 2020, and then dropped modestly in the following year.

Exports by Country

The UK (X tons) was the main destination for soups exports from Ireland, accounting for a 94% share of total exports. Moreover, soups exports to the UK exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+1.7% per year) and France (+91.2% per year).

In value terms, the UK ($X) remains the key foreign market for soups and broths exports from Ireland, comprising 96% of total exports. The second position in the ranking was held by Belgium ($X), with a 2.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+7.0% per year) and France (+78.3% per year).

Export Prices by Country

The average soups export price stood at $X per ton in 2021, increasing by 17% against the previous year. Overall, the export price showed a resilient increase. The growth pace was the most rapid in 2020 an increase of 75% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to France ($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 the UK (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Soups Imports

Imports into Ireland

In 2021, after two years of growth, there was significant decline in supplies from abroad of soups and broths, when their volume decreased by -26.8% to X tons. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 23% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, soups imports reduced dramatically to $X in 2021. Overall, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.0% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 71% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest soups supplier to Ireland, with a 49% share of total imports. Moreover, soups imports from the UK exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at -6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+18.4% per year) and Italy (+124.2% per year).

In value terms, the UK ($X) constituted the largest supplier of soups and broths to Ireland, comprising 41% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by Poland, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.7% per year) and Poland (+20.2% per year).

Import Prices by Country

The average soups import price stood at $X per ton in 2021, with an increase of 3.1% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soups import price decreased by -30.4% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 39% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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