United Kingdom: Sugars Market 2024

Sugars Market Size in the UK

The UK sugars market rose sharply to $X in 2021, picking up by 12% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Sugars Production in the UK

In value terms, sugars production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep downturn. The growth pace was the most rapid in 2014 when the production volume increased by 46% 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.

Sugars Exports

Exports from the UK

In 2021, shipments abroad of sugars, sugar ethers and salts increased by 294% to X tons for the first time since 2014, thus ending a six-year declining trend. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugars exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ireland (X tons) was the main destination for sugars exports from the UK, accounting for a 59% share of total exports. Moreover, sugars exports to Ireland exceeded the volume sent to the second major destination, India (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Ireland amounted to +60.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+53.3% per year) and the United States (+43.5% per year).

In value terms, the United States ($X), Ireland ($X) and India ($X) constituted the largest markets for sugars exported from the UK worldwide, together comprising 85% of total exports.

In terms of the main countries of destination, Ireland, with a CAGR of +68.9%, saw 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

In 2021, the average sugars export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. The growth pace was the most rapid in 2018 an increase of 112%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Germany ($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 Switzerland (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Sugars Imports

Imports into the UK

In 2021, approx. X tons of sugars, sugar ethers and salts were imported into the UK; with an increase of 30% on 2020 figures. Over the period under review, imports, however, recorded a abrupt decline. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, sugars imports surged to $X in 2021. Overall, imports, however, recorded a noticeable descent. The growth pace was the most rapid in 2017 when imports increased by 89% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main suppliers of sugars imports to the UK, together accounting for 79% of total imports. Belgium, China, the Netherlands and Spain lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +62.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) appeared to be the largest sugars suppliers to the UK, together comprising 76% of total imports. The Netherlands, France, Belgium and Spain lagged somewhat behind, together accounting for a further 14%.

Spain, with a CAGR of +57.4%, 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 sugars import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, recorded temperate growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 95% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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