Slovakia: Inulin Market 2024

Inulin Market Size in Slovakia

In 2021, after two years of decline, there was significant growth in the Slovak inulin market, when its value increased by 39% to $X. In general, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Inulin Exports

Exports from Slovakia

Inulin exports from Slovakia declined dramatically to X kg in 2021, which is down by -34.4% against the year before. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2019 with an increase of 760%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, inulin exports fell markedly to $X in 2021. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 760%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Czech Republic (X kg) was the main destination for inulin exports from Slovakia, with a 62% share of total exports. Moreover, inulin exports to the Czech Republic exceeded the volume sent to the second major destination, Belgium (X kg), fourfold. The third position in this ranking was held by Hungary (X kg), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic stood at -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Hungary (+68.4% per year).

In value terms, the Czech Republic ($X) emerged as the key foreign market for inulin exports from Slovakia, comprising 52% of total exports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total exports. It was followed by Hungary, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the Czech Republic stood at -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Hungary (+19.2% per year).

Export Prices by Country

The average inulin export price stood at $X per ton in 2021, with an increase of 6.3% against the previous year. Over the period under review, the export price, however, continues to indicate a precipitous slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Romania ($X per ton), while the average price for exports to Latvia ($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 the Czech Republic (+11.4%).

Inulin Imports

Imports into Slovakia

In 2021, supplies from abroad of inulin was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 45%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, inulin imports soared to $X in 2021. Overall, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 52% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest inulin supplier to Slovakia, with a 60% share of total imports. Moreover, inulin imports from Belgium exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+257.0% per year) and the Netherlands (+3.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of inulin to Slovakia, comprising 55% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 27% share of total imports. It was followed by the Netherlands, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+190.2% per year) and the Netherlands (+3.4% per year).

Import Prices by Country

The average inulin import price stood at $X per ton in 2021, rising by 23% against the previous year. Over the period under review, the import price, however, recorded a slight reduction. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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