Spain: Malt Market 2024

Malt Market Size in Spain

The Spanish malt market expanded sharply to $X in 2022, with an increase of 5.8% against the previous year. In general, consumption, however, recorded a mild downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Malt Production in Spain

In value terms, malt production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild slump. The growth pace was the most rapid in 2014 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Malt Exports

Exports from Spain

In 2022, overseas shipments of malt decreased by -28.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a pronounced increase. The pace of growth was the most pronounced in 2021 when exports increased by 175% against the previous year. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, malt exports fell to $X in 2022. Overall, exports, however, recorded a perceptible increase. The most prominent rate of growth was recorded in 2021 with an increase of 167% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Portugal (X tons) was the main destination for malt exports from Spain, with a 68% share of total exports. Moreover, malt exports to Portugal exceeded the volume sent to the second major destination, Tunisia (X tons), fourfold. Colombia (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+36.8% per year) and Colombia (+167.5% per year).

In value terms, Portugal ($X) remains the key foreign market for malt exports from Spain, comprising 64% of total exports. The second position in the ranking was held by Tunisia ($X), with a 15% share of total exports. It was followed by Colombia, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+38.0% per year) and Colombia (+155.8% per year).

Export Prices by Country

The average malt export price stood at $X per ton in 2022, surging by 31% against the previous year. In general, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Colombia ($X per ton), while the average price for exports to Portugal ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Malt Imports

Imports into Spain

In 2022, overseas purchases of malt decreased by -11.7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded a temperate increase. The pace of growth was the most pronounced in 2016 with an increase of 121%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, malt imports skyrocketed to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +108.3% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 120% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

France (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of malt imports to Spain, with a combined 91% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +67.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Germany ($X) constituted the largest malt suppliers to Spain, with a combined 89% share of total imports.

Belgium, with a CAGR of +54.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average malt import price stood at $X per ton in 2022, jumping by 37% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, malt import price increased by +53.6% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of 43% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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