Spain: Soups Market 2024

Soups Market Size in Spain

In 2021, after three years of growth, there was significant decline in the Spanish soups market, when its value decreased by -8.9% to $X. In general, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +21.4% against 2013 indices. Soups consumption peaked at $X in 2020, and then dropped in the following year.

Soups Production in Spain

In value terms, soups production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% 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 2018 with an increase of 28%. Soups production peaked at $X in 2020, and then fell in the following year.

Soups Exports

Exports from Spain

In 2021, the amount of soups and broths exported from Spain reached X tons, increasing by 3.1% compared with 2020. Overall, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +32.3% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of 20%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, soups exports reached $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 28% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

France (X tons), Democratic Republic of the Congo (X tons) and Burkina Faso (X tons) were the main destinations of soups exports from Spain, together comprising 28% of total exports. These countries were followed by Mali, Somalia, Italy, the UK, Ghana, Madagascar, Cote d'Ivoire, Portugal, Mauritania and Kenya, which together accounted for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Somalia (with a CAGR of +40.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soups exported from Spain were France ($X), the UK ($X) and Democratic Republic of the Congo ($X), together accounting for 29% of total exports. Burkina Faso, Somalia, Mali, Madagascar, Ghana, Portugal, Italy, Cote d'Ivoire, Kenya and Mauritania lagged somewhat behind, together comprising a further 42%.

Among the main countries of destination, Somalia, with a CAGR of +40.2%, 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 soups export price stood at $X per ton in 2021, waning by -2.2% against the previous year. In general, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 6.9%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Italy ($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 Italy (+5.2%), while the prices for the other major destinations experienced a decline.

Soups Imports

Imports into Spain

Soups imports into Spain contracted markedly to X tons in 2021, with a decrease of -32.8% against 2020. Overall, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2015 with an increase of 15%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, soups imports dropped dramatically to $X in 2021. Over the period under review, imports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2020 when imports increased by 8.5%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of soups to Spain, with a 53% share of total imports. Moreover, soups imports from Italy exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Portugal (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-17.9% per year) and Portugal (-6.1% per year).

In value terms, Italy ($X) constituted the largest supplier of soups and broths to Spain, comprising 40% of total imports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total imports. It was followed by France, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+13.0% per year) and France (-16.0% per year).

Import Prices by Country

In 2021, the average soups import price amounted to $X per ton, rising by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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