United Kingdom: Oleo Oils Market 2024

Oleo Oils Market Size in the UK

The UK oleo oils market surged to $X in 2021, increasing by 213% against the previous year. Over the period under review, consumption, however, continues to indicate a mild decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Oleo Oils Production in the UK

In value terms, oleo oils production expanded slightly to $X in 2021 estimated in export price. Overall, production recorded a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of 6.6% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Oleo Oils Exports

Exports from the UK

In 2021, overseas shipments of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -44% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, continue to indicate measured growth. The pace of growth appeared the most rapid in 2014 with an increase of 74%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, oleo oils exports dropped to $X in 2021. In general, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2014 when exports increased by 98%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Ireland (X tons) and Belgium (X tons) were the main destinations of oleo oils exports from the UK, together comprising 96% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +11.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) remains the key foreign market for lard stearin, lard oil, oleostearin, oleo-oil and tallow oil exports from the UK, comprising 64% of total exports. The second position in the ranking was held by Ireland ($X), with a 28% share of total exports. It was followed by Belgium, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands amounted to +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+10.7% per year) and Belgium (-12.6% per year).

Export Prices by Country

The average oleo oils export price stood at $X per ton in 2021, increasing by 56% against the previous year. Overall, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oleo oils export price increased by +84.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ireland ($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 Belgium (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Oleo Oils Imports

Imports into the UK

In 2021, supplies from abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil increased by 138% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 182%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, oleo oils imports surged to $X in 2021. Overall, imports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2018 when imports increased by 245% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Ireland (X tons) constituted the largest supplier of oleo oils to the UK, with a 84% share of total imports. Moreover, oleo oils imports from Ireland exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ireland amounted to -14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+173.9% per year) and the Netherlands (-5.7% per year).

In value terms, Ireland ($X) constituted the largest supplier of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil to the UK, comprising 70% of total imports. The second position in the ranking was held by Denmark ($X), with a 13% share of total imports. It was followed by the Netherlands, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ireland stood at -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+200.0% per year) and the Netherlands (-4.8% per year).

Import Prices by Country

In 2021, the average oleo oils import price amounted to $X per ton, rising by 14% against the previous year. Overall, the import price recorded a slight expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 64% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for France ($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 (+186.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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