Portugal: Inulin Market 2024

Inulin Market Size in Portugal

The Portuguese inulin market contracted to $X in 2021, reducing by -6.1% against the previous year. Overall, consumption continues to indicate a deep reduction. Inulin consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Inulin Production in Portugal

In value terms, inulin production dropped to $X in 2021 estimated in export price. Overall, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 20%. Inulin production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Inulin Exports

Exports from Portugal

Inulin exports from Portugal soared to X tons in 2021, rising by 38% against the previous year's figure. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,207% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, inulin exports surged to $X in 2021. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 422%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons), France (X tons) and Morocco (X tons) were the main destinations of inulin exports from Portugal, together accounting for 100% of total exports.

From 2012 to 2021, 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 +83.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inulin exported from Portugal were the Netherlands ($X), France ($X) and Morocco ($X), with a combined 99% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +93.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average inulin export price stood at $X per ton in 2021, which is down by -6.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 99%. The export price peaked at $X per ton in 2020, and then contracted in the following year.

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 Spain ($X per ton), while the average price for exports to Morocco ($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 France (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Inulin Imports

Imports into Portugal

Inulin imports into Portugal rose to X tons in 2021, surging by 3.6% compared with the year before. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 48%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, inulin imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +11.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +108.3% against 2015 indices. The pace of growth was the most pronounced in 2013 when imports increased by 57% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of inulin to Portugal, accounting for a 74% share of total imports. Moreover, inulin imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. The third position in this ranking was taken by Spain (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+26.4% per year) and Spain (+11.9% per year).

In value terms, Belgium ($X) constituted the largest supplier of inulin to Portugal, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 20% share of total imports. It was followed by Spain, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+23.6% per year) and Spain (+16.4% per year).

Import Prices by Country

The average inulin import price stood at $X per ton in 2021, growing by 29% against the previous year. Overall, the import price, however, recorded a slight contraction. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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