Italy: Sugars Market 2024

Sugars Market Size in Italy

The Italian sugars market soared to $X in 2021, rising by 51% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sugars Production in Italy

In value terms, sugars production soared to $X in 2021 estimated in export price. In general, production showed a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 104% against the previous year. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the immediate term.

Sugars Exports

Exports from Italy

In 2021, approx. X tons of sugars, sugar ethers and salts were exported from Italy; which is down by -34.6% on 2020. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 96%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sugars exports reduced sharply to $X in 2021. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 72%. Over the period under review, the exports reached the peak figure at $X in 2020, and then shrank sharply in the following year.

Exports by Country

Japan (X tons), the Netherlands (X tons) and Austria (X tons) were the main destinations of sugars exports from Italy, together comprising 48% of total exports. The United States, France, Israel, India, Vietnam, Germany, Spain, Canada, Greece and Brazil lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +300.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sugars exported from Italy were France ($X), the United States ($X) and Japan ($X), with a combined 63% share of total exports. The Netherlands, Austria, Vietnam, India, Spain, Germany, Canada, Israel, Greece and Brazil lagged somewhat behind, together comprising a further 22%.

Vietnam, with a CAGR of +458.4%, saw 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 sugars export price stood at $X per ton in 2021, rising by 23% against the previous year. Overall, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 41% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Greece ($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 Vietnam (+39.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into Italy

In 2021, sugars imports into Italy totaled X tons, growing by 2.1% on 2020. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 22% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, sugars imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), France (X tons) and Turkey (X tons) were the main suppliers of sugars imports to Italy, with a combined 74% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +116,841.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and China ($X) appeared to be the largest sugars suppliers to Italy, with a combined 60% share of total imports. These countries were followed by the Netherlands, Belgium, Turkey, Denmark, Austria and Finland, which together accounted for a further 26%.

Turkey, with a CAGR of +134,207.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average sugars import price amounted to $X per ton, surging by 24% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars import price increased by +66.5% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 35% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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