Global Oleo Oils Market 2023

Oleo Oils Market Size

In 2021, the global oleo oils market decreased by -4.8% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption, however, continues to indicate a slight downturn. Global consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Oleo Oils Production

In value terms, oleo oils production contracted modestly to $X in 2021 estimated in export price. Overall, production recorded a slight curtailment. The pace of growth was the most pronounced in 2016 with an increase of 24%. As a result, production attained the peak level of $X. From 2017 to 2021, global production growth remained at a somewhat lower figure.

Oleo Oils Exports

Exports

In 2021, overseas shipments of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -13.9% to X tons, falling for the fifth consecutive year after five years of growth. In general, exports recorded a pronounced downturn. The pace of growth was the most pronounced in 2016 when exports increased by 41% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the global exports failed to regain momentum.

In value terms, oleo oils exports surged to $X in 2021. Overall, exports recorded a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the global exports remained at a somewhat lower figure.

Exports by Country

In 2021, the UK (X tons) represented the largest exporter of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, committing 42% of total exports. Ireland (X tons) ranks second in terms of the total exports with a 22% share, followed by the United States (16%) and the Netherlands (6%). The following exporters - France (X tons), Uruguay (X tons) and Germany (X tons) - each resulted at a 6.4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Uruguay (with a CAGR of +13.7%), while the other global leaders experienced more modest paces of growth.

In value terms, the UK ($X), Ireland ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2021, together comprising 81% of global exports.

Among the main exporting countries, Ireland, with a CAGR of +13.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average oleo oils export price stood at $X per ton in 2021, rising by 47% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.9%), while the other global leaders experienced mixed trends in the export price figures.

Oleo Oils Imports

Imports

In 2021, purchases abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil increased by less than 0.1% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2015 when imports increased by 122% against the previous year. Over the period under review, global imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, oleo oils imports soared to $X in 2021. Over the period under review, imports, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2015 when imports increased by 75% against the previous year. Over the period under review, global imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Ireland (X tons) and Mexico (X tons) were the major importers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in 2021, amounting to near 27% and 25% of total imports, respectively. Germany (X tons) held a 9.7% share (based on physical terms) of total imports, which put it in second place, followed by the UK (5.7%) and Belgium (4.6%). Italy (X tons), the Netherlands (X tons), Poland (X tons), Zimbabwe (X tons), Aruba (X tons), Sudan (X tons) and Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Aruba (with a CAGR of +25.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest oleo oils importing markets worldwide were Mexico ($X), Ireland ($X) and Germany ($X), with a combined 55% share of global imports. These countries were followed by Belgium, Italy, the UK, Aruba, Poland, the Netherlands, Zimbabwe, Sudan and Nigeria, which together accounted for a further 32%.

In terms of the main importing countries, Zimbabwe, with a CAGR of +25.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average oleo oils import price stood at $X per ton in 2021, increasing by 29% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Global import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Aruba ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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