Benelux: Vanilla Market 2023

Vanilla Exports

Exports in Benelux

In 2022, shipments abroad of vanilla increased by 1.7% to X tons, rising for the fourth consecutive year after three years of decline. Overall, exports saw a pronounced increase. The pace of growth appeared the most rapid in 2019 with an increase of 91% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vanilla exports soared to $X in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 185% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands was the major exporting country with an export of about X tons, which reached 76% of total exports. It was distantly followed by Belgium (X tons), committing a 24% share of total exports.

The Netherlands was also the fastest-growing in terms of the vanilla exports, with a CAGR of +22.2% from 2012 to 2022. Belgium (-8.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +61 percentage points.

In value terms, the Netherlands ($X) remains the largest vanilla supplier in Benelux, comprising 67% of total exports. The second position in the ranking was held by Belgium ($X), with a 33% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to +37.6%.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, growing by 36% against the previous year. Over the period under review, the export price saw a significant increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 126% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+27.7%).

Vanilla Imports

Imports in Benelux

In 2022, vanilla imports in Benelux reduced slightly to X tons, which is down by -3% compared with the previous year. In general, imports saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 16% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, vanilla imports shrank to $X in 2022. Overall, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 65%. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

The Netherlands (X tons) and Belgium (X tons) represented roughly 99% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of -2.6%).

In value terms, the Netherlands ($X) constitutes the largest market for imported vanilla in Benelux, comprising 69% of total imports. The second position in the ranking was held by Belgium ($X), with a 30% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at +23.9%.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, which is down by -4% against the previous year. In general, the import price, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2016 an increase of 80%. The level of import peaked at $X per ton in 2021, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+27.3%).

Source: IndexBox Market Intelligence Platform

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