Spain: Saccharin Market 2024

Saccharin Market Size in Spain

The Spanish saccharin market amounted to $X in 2021, approximately mirroring the previous year. Over the period under review, consumption saw strong growth. Saccharin consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Saccharin Production in Spain

In value terms, saccharin production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a deep slump. The most prominent rate of growth was recorded in 2016 when the production volume decreased by -2.4% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Saccharin Exports

Exports from Spain

After two years of growth, overseas shipments of saccharin and its salts decreased by -13.3% to X tons in 2021. In general, exports saw a noticeable descent. The pace of growth was the most pronounced in 2019 with an increase of 67% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, saccharin exports dropped remarkably to $X in 2021. Over the period under review, exports saw a noticeable curtailment. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Cuba (X tons), France (X tons) and Germany (X tons) were the main destinations of saccharin exports from Spain, with a combined 66% share 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 Cuba (with a CAGR of +83.7%), while the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) remains the key foreign market for saccharin and its salts exports from Spain, comprising 32% of total exports. The second position in the ranking was held by France ($X), with a 16% share of total exports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Cuba totaled +71.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+0.5% per year) and Germany (-0.5% per year).

Export Prices by Country

In 2021, the average saccharin export price amounted to $X per ton, declining by -7.3% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 29% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Hungary ($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 Ireland (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Saccharin Imports

Imports into Spain

In 2021, saccharin imports into Spain soared to X tons, growing by 24% on 2020 figures. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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 +70.9% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 38% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, saccharin imports fell remarkably to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest saccharin supplier to Spain, accounting for a 53% share of total imports. Moreover, saccharin imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+29.9% per year) and Germany (+7.0% per year).

In value terms, China ($X) constituted the largest supplier of saccharin and its salts to Spain, comprising 48% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.0% per year) and the Netherlands (+22.6% per year).

Import Prices by Country

The average saccharin import price stood at $X per ton in 2021, dropping by -31.6% against the previous year. Overall, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2016 an increase of 16%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the Netherlands ($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 (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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