EU: Lard Market 2024

Lard Market Size in the EU

In 2023, the EU lard market increased by X% to $X, rising for the third consecutive year after three years of decline. Overall, consumption recorded resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lard Production in the EU

In value terms, lard production shrank to $X in 2023 estimated in export price. The total production indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2022, and then dropped in the following year.

Lard Exports

Exports in the EU

In 2023, approx. X tons of lard were exported in the European Union; which is down by X% compared with the year before. Overall, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, lard exports contracted notably to $X in 2023. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then declined notably in the following year.

Exports by Country

Germany was the main exporting country with an export of around X tons, which reached X% of total exports. Italy (X tons) took the second position in the ranking, followed by the Netherlands (X tons), Belgium (X tons), France (X tons) and Spain (X tons). All these countries together took approx. X% share of total exports. Poland (X tons) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of exports of lard. At the same time, Italy (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. Poland and France experienced a relatively flat trend pattern. By contrast, the Netherlands (X%), Spain (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Germany and Italy increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest lard supplier in the European Union, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Germany stood at X%. In the other countries, the average annual rates were as follows: the Netherlands (X% per year) and Italy (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then declined in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the other leaders experienced more modest paces of growth.

Lard Imports

Imports in the EU

Lard imports skyrocketed to X tons in 2023, increasing by X% on the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lard imports soared to $X in 2023. Overall, imports recorded a moderate increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

Imports by Country

Belgium (X tons) and the Netherlands (X tons) represented roughly X% of total imports in 2023. Spain (X tons) ranks next in terms of the total imports with a X% share, followed by Slovakia (X%) and France (X%). Germany (X tons), Italy (X tons) and Hungary (X tons) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. France, Slovakia, Germany, Italy and Hungary lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Slovakia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the European Union amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hungary ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform