Luxembourg: Pig Fat Market 2024

Pig Fat Market Size in Luxembourg

The Luxembourg pig fat market surged to $X in 2022, with an increase of 652% against the previous year. In general, consumption, however, continues to indicate a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Pig Fat Production in Luxembourg

In value terms, pig fat production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 91%. Pig fat production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Pig Fat Exports

Exports from Luxembourg

Pig fat exports from Luxembourg reduced to X tons in 2022, which is down by -9.5% against the year before. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +19.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 45% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, pig fat exports soared to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +105.8% against 2015 indices. The pace of growth was the most pronounced in 2019 when exports increased by 41%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Belgium (X tons) and France (X tons) were the main destinations of pig fat exports from Luxembourg.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +14.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for pig fat exported from Luxembourg were Germany ($X), Belgium ($X) and France ($X).

Belgium, with a CAGR of +14.7%, 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 mixed trend patterns.

Export Prices by Country

The average pig fat export price stood at $X per ton in 2022, increasing by 45% against the previous year. Over the period under review, the export price, however, continues to indicate a mild downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Belgium ($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 (+2.3%), while the prices for the other major destinations experienced a decline.

Pig Fat Imports

Imports into Luxembourg

In 2022, supplies from abroad of pig fat was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, imports, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2015 with an increase of 26%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, pig fat imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +1.6% 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 2018 with an increase of 34% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

France (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of pig fat imports to Luxembourg, together accounting for 90% of total imports. The Netherlands, Italy and Portugal lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of pig fat to Luxembourg, comprising 48% of total imports. The second position in the ranking was held by Belgium ($X), with a 21% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from France totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-4.3% per year) and the Netherlands (+26.8% per year).

Import Prices by Country

In 2022, the average pig fat import price amounted to $X per ton, flattening at the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pig fat import price increased by +2.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 42%. The import price peaked at $X per ton in 2021, and then contracted modestly in the following year.

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 ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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