Belgium: Market for Fish Fats And Oils 2023

Market Size for Fish Fats And Oils in Belgium

The Belgian fish fat and oil market contracted markedly to $X in 2021, declining by -38.6% against the previous year. In general, consumption continues to indicate a precipitous shrinkage. Over the period under review, the market attained the peak level at $X in 2020, and then fell notably in the following year.

Production of Fish Fats And Oils in Belgium

In value terms, fish fat and oil production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight shrinkage. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Fish Fats And Oils

Exports from Belgium

In 2021, approx. X tons of fish fats and oils were exported from Belgium; with an increase of 75% against the year before. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +34.9% from 2020 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of fish fat and oil exports from Belgium, with a combined 71% share of total exports.

From 2020 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +21,368.6%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and the Netherlands ($X) constituted the largest markets for fish fat and oil exported from Belgium worldwide, with a combined 61% share of total exports. China, the UK and Denmark lagged somewhat behind, together accounting for a further 30%.

In terms of the main countries of destination, the UK, with a CAGR of +11,923.9%, 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

In 2021, the average fish fat and oil export price amounted to $X per ton, reducing by -22.9% against the previous year. Over the period under review, the export price showed a sharp curtailment. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then fell dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2020 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.9%), while the prices for the other major destinations experienced a decline.

Imports of Fish Fats And Oils

Imports into Belgium

In 2021, the amount of fish fats and oils imported into Belgium expanded modestly to X tons, rising by 1.5% on the previous year. The total import volume increased at an average annual rate of +1.5% from 2020 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +9.3% from 2020 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Peru (X tons) constituted the largest supplier of fish fat and oil to Belgium, with a 47% share of total imports. Moreover, fish fat and oil imports from Peru exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 7.9% share.

From 2020 to 2021, the average annual rate of growth in terms of volume from Peru totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+89.5% per year) and the United States (+15.6% per year).

In value terms, Peru ($X) constituted the largest supplier of fish fats and oils to Belgium, comprising 51% of total imports. The second position in the ranking was held by Chile ($X), with a 21% share of total imports. It was followed by the United States, with a 7% share.

From 2020 to 2021, the average annual rate of growth in terms of value from Peru amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+83.2% per year) and the United States (-18.0% per year).

Import Prices by Country

The average fish fat and oil import price stood at $X per ton in 2021, picking up by 7.6% against the previous year. Over the last one-year period, it increased at an average annual rate of +7.6%. As a result, import price attained 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, the country with the highest price was the Netherlands ($X per ton), while the price for Mauritania ($X per ton) was amongst the lowest.

From 2020 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+46.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :