United Kingdom: Sesame Oil Market 2024

Sesame Oil Market Size in the UK

In 2021, the UK sesame oil market decreased by -9.9% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, posted a resilient increase. Sesame oil consumption peaked at $X in 2020, and then contracted in the following year.

Sesame Oil Exports

Exports from the UK

In 2021, approx. X tons of sesame oil were exported from the UK; which is down by -22.8% compared with the previous year's figure. The total export volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 52% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, sesame oil exports shrank markedly to $X in 2021. The total export value increased at an average annual rate of +1.3% 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 2013 when exports increased by 45% against the previous year. The exports peaked at $X in 2020, and then dropped significantly in the following year.

Exports by Country

Ireland (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of sesame oil exports from the UK, with a combined 54% share of total exports. These countries were followed by the United States, France, Norway, Belgium, Sweden, Finland and Italy, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +15.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and the Netherlands ($X) constituted the largest markets for sesame oil exported from the UK worldwide, with a combined 42% share of total exports. These countries were followed by Ireland, France, Norway, Belgium, Italy, Finland and Sweden, which together accounted for a further 36%.

In terms of the main countries of destination, France, with a CAGR of +16.9%, saw the highest growth rate of 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 sesame oil export price stood at $X per ton in 2021, which is down by -11.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 25% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Ireland ($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 France (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into the UK

In 2021, overseas purchases of sesame oil decreased by -9.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, sesame oil imports fell to $X in 2021. Overall, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2019 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of sesame oil to the UK, accounting for a 46% share of total imports. Moreover, sesame oil imports from Mexico exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. China (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.9% per year) and China (+2.0% per year).

In value terms, Mexico ($X) constituted the largest supplier of sesame oil to the UK, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by India, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.7% per year) and India (+17.5% per year).

Import Prices by Country

In 2021, the average sesame oil import price amounted to $X per ton, reducing by -4.5% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2019 when the average import price increased by 12%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then fell slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Somalia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :