Luxembourg: Preserved Beef Market 2024

Preserved Beef Market Size in Luxembourg

The Luxembourg preserved beef market rose significantly to $X in 2021, with an increase of 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +64.9% against 2015 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Preserved Beef Exports

Exports from Luxembourg

In 2021, shipments abroad of beef and veal (salted, in brine, dried or smoked) decreased by -3% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by 66%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved beef exports expanded sharply to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Ireland (X kg), Belgium (X kg) and France (X kg) were the main destinations of preserved beef exports from Luxembourg, with a combined 85% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +27.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for preserved beef exported from Luxembourg were Ireland ($X), Belgium ($X) and France ($X), with a combined 86% share of total exports.

Ireland, with a CAGR of +29.0%, 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

In 2021, the average preserved beef export price amounted to $X per ton, growing by 17% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved beef export price increased by +31.1% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 63% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Belgium ($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 Belgium (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into Luxembourg

Preserved beef imports into Luxembourg expanded slightly to X tons in 2021, with an increase of 2% against the previous year. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% 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 increased by +35.9% against 2013 indices. The pace of growth appeared the most rapid in 2013 with an increase of 34% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, preserved beef imports skyrocketed to $X in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.1% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 24%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X tons), Ireland (X tons) and Italy (X tons) were the main suppliers of preserved beef imports to Luxembourg, together accounting for 77% of total imports. These countries were followed by Spain, France, Germany and Portugal, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +41.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved beef suppliers to Luxembourg were Ireland ($X), Belgium ($X) and Italy ($X), with a combined 77% share of total imports. Spain, Germany, France and Portugal lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, Spain, with a CAGR of +42.8%, saw the highest rates of growth with regard to 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

In 2021, the average preserved beef import price amounted to $X per ton, picking up by 16% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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