Italy: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Italy

The Italian margarine and shortening market totaled $X in 2022, picking up by 9.2% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Margarine and shortening consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Margarine And Shortening Production in Italy

In value terms, margarine and shortening production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 -2.5% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 58%. Margarine and shortening production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Margarine And Shortening Exports

Exports from Italy

In 2022, approx. X tons of margarine and shortening were exported from Italy; surging by 4.5% compared with the previous year's figure. The total export volume increased at an average annual rate of +4.0% over the period 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 with an increase of 13% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, margarine and shortening exports soared to $X in 2022. In general, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 36% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Spain (X tons), Poland (X tons) and Hungary (X tons) were the main destinations of margarine and shortening exports from Italy, together comprising 32% of total exports. France, Portugal, the Czech Republic, Germany, the United States, Russia, Japan, the Netherlands, Belgium and Greece lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +35.2%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Poland ($X) and France ($X) constituted the largest markets for margarine and shortening exported from Italy worldwide, together accounting for 30% of total exports. Germany, Hungary, the Netherlands, the United States, Belgium, Russia, Portugal, the Czech Republic, Japan and Greece lagged somewhat behind, together accounting for a further 38%.

The Netherlands, with a CAGR of +35.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average margarine and shortening export price amounted to $X per ton, growing by 18% against the previous year. Over the period under review, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening export price increased by +93.5% against 2015 indices. The pace of growth appeared the most rapid in 2021 an increase of 27%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Hungary ($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 France (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Italy

In 2022, after three years of decline, there was significant growth in supplies from abroad of margarine and shortening, when their volume increased by 32% to X tons. Over the period under review, imports, however, continue to indicate a noticeable shrinkage. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Belgium (X tons) and Spain (X tons) were the main suppliers of margarine and shortening imports to Italy, with a combined 61% share of total imports. France, Austria, the Netherlands, Greece and Sweden lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +142.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and Spain ($X) were the largest margarine and shortening suppliers to Italy, together accounting for 58% of total imports. France, Austria, Sweden, the Netherlands and Greece lagged somewhat behind, together accounting for a further 37%.

In terms of the main suppliers, Greece, with a CAGR of +149.2%, saw 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 margarine and shortening import price stood at $X per ton in 2022, jumping by 18% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening import price increased by +51.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Germany ($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 Netherlands (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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