Eastern Europe: Animal Fats Market 2024

Animal Fats Market Size in Eastern Europe

The East European animal fats market expanded modestly to $X in 2023, growing by X% against the previous year. Overall, consumption enjoyed a prominent increase. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Animal Fats Production in Eastern Europe

In value terms, animal fats production totaled $X in 2023 estimated in export price. The total production indicated prominent 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 decreased by X% against 2021 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Animal Fats Exports

Exports in Eastern Europe

In 2023, shipments abroad of animal fats and oils decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, animal fats exports shrank significantly to $X in 2023. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then contracted markedly in the following year.

Exports by Country

Romania (X tons) and Hungary (X tons) dominates exports structure, together committing X% of total exports. Lithuania (X tons) and Poland (X tons) held a minor share of total exports.

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

In value terms, Romania ($X), Lithuania ($X) and Hungary ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Among the main exporting countries, Romania, with a CAGR of X%, recorded the highest growth rate of 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

The export price in Eastern Europe stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced a decline in the export price figures.

Animal Fats Imports

Imports in Eastern Europe

In 2023, animal fats imports in Eastern Europe contracted to X tons, shrinking by X% against the year before. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, animal fats imports skyrocketed to $X in 2023. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

Imports by Country

Hungary was the main importing country with an import of around X tons, which resulted at X% of total imports. Romania (X tons) took the second position in the ranking, distantly followed by Poland (X tons). All these countries together held approx. X% share of total imports. The Czech Republic (X tons) followed a long way behind the leaders.

Imports into Hungary increased at an average annual rate of X% from 2012 to 2023. At the same time, the Czech Republic (X%), Poland (X%) and Romania (X%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. Romania (X p.p.), Poland (X p.p.) and the Czech Republic (X p.p.) significantly strengthened its position in terms of the total imports, while Hungary saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Romania ($X) constitutes the largest market for imported animal fats and oils in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Hungary ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Romania totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Poland (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the import price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per ton), while Hungary ($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 a decline in the import price figures.

Source: IndexBox Platform