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India Clashes with China in the Global Ginger Export Market

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India Clashes with China in the Global Ginger Export Market

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IndexBox has just published a new report: ‘World – Ginger – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In the wake of the pandemic, the ginger market has accelerated its growth as demand for foods with a reputation for immunity system health has soared to unprecedented heights. India, which almost tripled its export of ginger in 2020, may become a serious competitor to the main global supplier – China. The majority of the developed countries have increased the volume of imports, which, in the context of Covid restrictions and a shortage of container traffic, has led to an increase in prices for the product.

Key Trends and Insights

The pandemic contributed to the growth of the global ginger market of 2020 by 7.6% y-o-y to 4.5M tonnes. The increased focus on foods with a reputation for benefits to the immune system during the Covid-19 epidemic, as well as the rise in the popularity of Asian foodstuffs and condiments in Western countries, have been the main drivers for the increased demand for ginger.

China, with a volume of supplies of 578K tonnes, traditionally remains the world’s largest exporter of ginger, but in 2020 the country met swiftly growing competition from India, which tripled its exports to 102K tonnes. India is a leader in the production of ginger with a 45% share of the world output, which gives it every chance to seriously press China and other countries in the export market.

Ginger imports to Europe are growing rapidly amid the pandemic. In 2020, 197K tonnes were imported to the region, which is 13% more than the previous year. The leading European importer is the Netherlands, which accounts for 40% of total imports to the former European Union, with the volume of 79K tonnes, followed by the UK (15% or 29K tonnes) and Germany (14% or 28K tonnes). China remains the largest supplier to European countries, but due to the high EU requirements for quality, suppliers of organic ginger from Peru and Brazil are gaining an increasing share of this market.

The lack of containers and the high cost of shipping ginger in the global market remain key challenges at the moment. The rise in logistics costs led to an increase in the average world import price from $1.2 per kg in 2019 to $1.5 per kg in 2020. Additionally, the structure of the international supply of the product has changed – the volume of exported fresh ginger has slightly decreased, while the amount of dried and frozen ginger has grown.

Increased demand for ginger from a growing population should act as the main driver for the market, which is expected to reach 6.6M tonnes by 2030. Soft drinks and syrups containing ginger have become increasingly popular, which should further stimulate market growth.

Global Ginger Consumption

The global ginger market surged to $7.3B in 2020, with an increase of 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2020: its value increased at an average annual rate of +7.3% over the last eight years.

India (1.9M tonnes) remains the largest ginger-consuming country worldwide, accounting for 43% of total volume. Moreover, ginger consumption in India exceeded the figures recorded by the second-largest consumer, Nigeria (762K tonnes), threefold. The third position in this ranking was occupied by Nepal (307K tonnes), with a 6.9% share.

In India, ginger consumption expanded at an average annual rate of +11.9% over the period from 2012-2020. The remaining consuming countries recorded the following average annual rates of consumption growth: Nigeria (+9.4% per year) and Nepal (+2.9% per year).

In value terms, India ($3.4B) led the market, alone. The second position in the ranking was occupied by Nigeria ($1.4B). It was followed by Indonesia.

Global Ginger Exports

In 2020, global ginger exports rose notably to 918K tonnes, with an increase of 11% against the year before. In general, total exports indicated resilient growth from 2012 to 2020: its volume increased at an average annual rate of +7.1% over the last eight-year period. In value terms, ginger exports skyrocketed to $1.3B (IndexBox estimates) in 2020.

China was the largest exporter of ginger in the world, with the volume of exports amounting to 578K tonnes, which was near 63% of total exports in 2020. It was distantly followed by India (102K tonnes), the Netherlands (62K tonnes) and Thailand (48K tonnes), together making up a 23% share of total exports. Brazil (32K tonnes), Peru (26K tonnes) and Nigeria (18K tonnes) followed a long way behind the leaders.

In value terms, China ($719M) remains the largest ginger supplier worldwide, comprising 56% of global exports. The second position in the ranking was occupied by the Netherlands ($156M), with a 12% share of global exports. It was followed by India, with a 7.5% share.

Source: IndexBox Platform

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The European Sweet Potato Market Features Record Import Growth

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IndexBox has just published a new report: ‘World – Sweet Potato – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Sweet potato imports in the Netherlands, Germany and Spain are gaining momentum. From 2018 to 2020, imports to Germany increased by 20% and reached 47.4K tonnes. Over the same period, supplies to Spain tripled from 3.8K to 15.3K tonnes, while imports to the Netherlands rose by 44% and peaked at 174K tonnes. In 2020, the Netherlands overcame the UK and emerged as the top sweet potato importer. 

Global Sweet Potato Imports

In 2020, approx. 755K tonnes of sweet potato were imported worldwide; picking up by 6.9% on 2019 figures. Over the period under review, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 28% y-o-y (IndexBox estimates). Global imports peaked in 2020 and are expected to retain growth in the immediate term.

In value terms, sweet potato imports expanded significantly to $687M in 2020. In general, imports posted a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 26% year-to-year. Over the period under review, global imports hit record highs in 2020 and are expected to retain growth in the near future.

Sweet Potato Imports by Country

The Netherlands (174K tonnes) and the UK (159K tonnes) were the major importers of sweet potato in 2020, recording near 23% and 21% of total imports, respectively. Canada (76K tonnes) took a 10% share (based on tonnes) of total imports, which put it in second place, followed by France (7.1%), Germany (6.3%) and Belgium (5.7%). The following importers – Spain (15K tonnes), the U.S. (15K tonnes), Italy (15K tonnes), Malaysia (15K tonnes), Japan (13K tonnes) and Lao People’s Democratic Republic (12K tonnes) – each reached an 11% share of total imports.

In value terms, the largest sweet potato importing markets worldwide were the Netherlands ($152M), the UK ($119M) and Canada ($65M), together comprising 49% of global imports. These countries were followed by Germany, France, Belgium, Japan, the U.S., Spain, Lao People’s Democratic Republic, Malaysia and Italy, which together accounted for a further 32%.

In 2020, the average sweet potato import price amounted to $909 per tonne, almost unchanged from the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of +1.4%. There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Germany ($1,337 per tonne), while Italy ($582 per tonne) was amongst the lowest.

Source: IndexBox Platform

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Robust Demand for Salad Kits and Organic Food Drives the U.S. Lettuce Market

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IndexBox has just published a new report: ‘U.S. – Lettuce And Chicory – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

During the pandemic, demand for lettuce in the HoReCa sector fell but was offset by growth in sales to the retail segment. The balance between supply and demand on the market was maintained due to a large lettuce harvest in 2020, an increase in imported supply, and a decline in exports. This enabled prices to remain stable. For the past five years, the share of organic lettuce on the market doubled, reaching 7% and will continue to grow. 

Key Trends and Insights

In the U.S., 2020 was the year of the harvest for leaf lettuce and Romaine lettuce. According to the USDA, production grew by 25% and 11% y-o-y, respectively, while iceberg lettuce production decreased by 8% due to hot weather conditions.

During the pandemic, demand for leaf lettuce in the HoReCa sector fell but was completely balanced out by increased sales in the retail segment. Pre-packaged lettuce was in high demand from households amid lockdowns and the related trend towards increased home cooking. Salad kits with various flavors, herbal aromas and seasonings have been strengthening as a promising trend in the food industry.

Imported lettuce also enjoyed high demand. In 2020, the amount of lettuce and chicory imported into the country rose by 3.1% y-o-y to 376K tonnes. Mexico remains the dominant supplier of lettuce to the U.S., fulfilling 91% of deliveries. Canada provides 8.5% of the total supply, and these two countries nearly cover the entire demand for imported lettuce.

For the past five years, the share of organic lettuce on the American market doubled, reaching approximately 7%. The heightened attention to healthy eating habits is to keep the increase in organic food consumption buoyant throughout the mid-term.

The average retail price for lettuce in 2020 was $0.72 per kg for non-organic and $1.08 per kg for organic. It is forecast that as of yearend 2021, the average price for non-organic lettuce will not surpass 2020 levels, while the price for organic lettuce will slightly increase due to high demand and growing popularity of organic food.

The main driver for market expansion will be due to increased consumption from the growing U.S. population. Further increases in demand for lettuce will be boosted by the HoReCa segment returning to work upon lifting COVID restrictions. Rapidly developing home food-delivery services on the backdrop of the suburb construction boom should also contribute to the market growth.

U.S. Lettuce and Chicory Production

Lettuce and chicory production in the U.S. amounted to 3.6M tonnes (IndexBox estimates) in 2020, standing approx. at the previous year. In value terms, lettuce and chicory production totaled $6B in 2020. The total output value increased at an average annual rate of +1.4% from 2012 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period.

U.S. Lettuce and Chicory Imports

In 2020, lettuce and chicory imports amounted to $424M in 2020.

Mexico ($369M) constituted the largest supplier of lettuce and chicory to the U.S., comprising 87% of total imports. The second position in the ranking was occupied by Canada ($50M), with a 12% share of total imports.

In 2020, the average lettuce and chicory import price amounted to $1,128 per tonne, with an increase of 5.6% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the country with the highest price was Canada ($1,545 per tonne), while the price for Mexico stood at $1,079 per tonne.

Source: IndexBox Platform

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The Global Solar Panel Market to Skyrocket on the Shift Towards Renewable Energy

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IndexBox has just published a new report: ‘World – Solar Cells and Light-Emitting Diodes – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global solar panel market accelerates along with the unabated shift towards renewable energy. China, the leader in solar panel exports, will enjoy robust foreign demand while the domestic purchases may slow due to tariff subsidies cut. The U.S. experiences a surge in solar power generation, thanks to the increasing affordability of solar cells and robust suburban construction. The EU, Asia-Pacific, Mexico and Australia are also emerging as the most promising markets due to the swift adoption of solar generation capacities.

Key Trends and Insights

The global solar panel market is expected to skyrocket and exceed $130B by 2030, driven by the increasing shift towards renewable energy worldwide. In 2020, more than 80% of all the world’s newly commissioned electric power was from renewable sources, accounting for near 260 GW of the new capacity. Of this amount, almost a half comes from solar generation. The electricity production from solar generators, according to a forecast by the International Energy Agency, will increase 4.5 times over by 2030, which will be the primary stimulus for the growth of the solar panel market.

The Chinese solar panel industry will continue to thrive amid soaring global demand, despite removing tariff subsidies for new domestic solar energy projects. In China, the world’s leading renewable energy producer, the new solar power capacity grew by 49 GW, which accounts for 36% of the total renewable capacity. Starting from 2021, electricity generated by new solar capacities is to be sold either at local coal-fired power prices or at market prices. This may hamper the domestic solar panel market expansion, but Chinese manufacturers may offset this by rising exports because they dominate global solar panel supplies.

The increased availability of solar panels in the U.S. enables to accelerate the market growth. In 2020, the U.S. commissioned 29 GW of new renewable energy sources, up 80% from a year earlier, of which 15 GW came from solar power. Over the past decade, the cost of solar systems in the United States has dropped by 70%, and the cost of solar-generated electricity has become attractive against alternative sources. In 2020, the base overnight cost of solar photovoltaic energy ranged from $1.248 to $1.612 per kW, which is significantly lower than the base overnight cost of conventional hydropower electricity of $2.769 per kW or geothermal one of $2.772 per kW.

The deployment of distributed solar photovoltaic systems in homes as well as for commercial and industrial buildings appears as a budding market segment worldwide. In the U.S., it is expected to grow rapidly on the backdrop of a boom in suburban single-family construction, highlighting a bright opportunity for investors.

Vietnam is emerging as a promising market, having solar energy capacity skyrocketed over the last two years. To a lesser extent, this is also relevant for the EU, especially Germany, Spain, the Netherlands and Belgium. Australia, Mexico, the UAE and Chile also feature amongst the leaders of the solar energy adoption race. All these markets are to be in the particular focus of global solar energy solution providers who seek new opportunities.

Imports

Global imports of solar cells and light-emitting diodes stood at $54.2B (IndexBox estimates) in 2020. The most prominent rate of growth was recorded in 2014 when imports increased by 6.8% against the previous year. Over the period under review, global imports hit record highs at $55.4B in 2015; however, from 2016 to 2020, imports stood at a somewhat lower figure.

The U.S. ($10.5B) constitutes the largest market for imported solar cells and light-emitting diodes worldwide, comprising 19% of global imports. The second position in the ranking was occupied by Germany ($3.1B), with a 5.6% share of global imports. It was followed by Mexico, with a 2.2% share.

From 2007 to 2020, the average annual growth rate of value in the U.S. totaled +15.1%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-3.5% per year) and Mexico (+7.9% per year).

Exports

In 2020, solar cells and light-emitting diodes exports totaled $57.5B (IndexBox estimates).

China ($23.8B) remains the largest solar cells and light-emitting diodes supplier worldwide, comprising 41% of global exports. The second position in the ranking was occupied by Malaysia ($5.6B), with a 9.7% share of global exports. It was followed by Japan, with a 6% share.

From 2007 to 2020, the average annual rate of growth in terms of value in China stood at +12.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+14.6% per year) and Japan (-3.5% per year).

Source: IndexBox Platform

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Kiwi Exports from New Zealand to Set New Records

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IndexBox has just published a new report: ‘New Zealand – Kiwi Fruits – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

New Zealand remains the largest kiwi exporting country, supplying near 572K tonnes in 2020, which accounted for 41% of the global shipments. Despite the Covid-related restrictions, 2020 saw an 8.3% y-o-y spike in kiwi export supplies from New Zealand. This year, the country is expected to beat its previous export record, due to the highest yield. 

Kiwi fruit Exports from New Zealand

New Zealand represented the largest exporting country with a 41% share of global exports (1.4M tonnes). Kiwi fruit exports from New Zealand stood at 572K tonnes in 2020, picking up by 8.3% compared with the year before. The total export volume increased at an average annual rate of +3.3% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, exports reached the peak figure in 2020 and are expected to retain growth in years to come.

In value terms, kiwi fruit exports surged to $1.7B in 2020. Overall, exports posted prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. Exports peaked in 2020 and are likely to see steady growth in the immediate term.

Belgium (131K tonnes), Japan (104K tonnes) and China (96K tonnes) were the main destinations of kiwi fruit exports from New Zealand, with a combined 58% share of total exports. From 2007 to 2020, the biggest increases were in supplies to China, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for kiwi fruit exported from New Zealand were Japan ($427M), China ($394M) and Belgium ($243M), together comprising 61% of total exports.

In 2020, the average kiwi fruit export price amounted to $3,026 per tonne, with an increase of 7.1% against the previous year. Over the period under review, export price indicated a prominent increase from 2007 to 2020: its price increased at an average annual rate of +5.4% over the last thirteen-year period.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Japan ($4,111 per tonne), while the average price for exports to Belgium ($1,857 per tonne) was amongst the lowest.

According to the New Zealand Kiwifruit Growers Incorporated, kiwi exports from New Zealand in 2021 are forecast to break the last-year record. This will become feasible due to the rising production.

Source: IndexBox Platform

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The U.S. Milk Production Rises on Strong Domestic and Export Demand for Processed Dairy Products

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IndexBox has just published a new report: ‘U.S. – Milk – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

USDA forecasts that milk production in the U.S. will rise by 2.1% in 2021 thanks to gains in yield per cow as well as a slight increase in the number of milk cows. The average yearly price received by farmers for cow milk in 2021 is predicted to grow by 3.9% y-o-y amidst a rally in prices for animal feed. Rising consumer demand for cheese and butter continues to drive the market on the backdrop of lower demand for beverage milk. Demand in Asia for imported dairy products features as another factor boosting milk processing in the U.S.

Key Trends and Insights

According to IndexBox, in 2020, U.S. milk production increased by 1.3% y-o-y to 100M tonnes, and it is forecast to rise at the same pace for the next two years due to demand from the growing population.

The average number of milk cows in the U.S. rose from 9,337 heads in 2019 to 9,388 heads in 2020 but remains below the 2017-2018 figures. In the second half of 2021 and into 2022, farmers are expected to accelerate the pace of butchering and decrease the total head of cattle as they respond to higher costs of feed resulting from summer droughts. The expected decline in milk due to fewer cattle should be offset by increased milk production per cow.

The USDA estimates that as of year-end 2021, the average yearly farmer’s price will grow by 3.9% y-o-y to $0.43 per liter due to rallying feed prices. In 2022, the cost of milk should fall by 2.4% in comparison with 2021 to $0.42 per liter thanks to the expected increase in production but will remain higher than the 2020 figures ($0.41 per liter).

Over the last decade, the per capita milk consumption in the U.S., incl. both fresh milk of all kinds and milk used for processing, grew by 6.7% and in 2020 reached 354 kg/person, but the structure of the demand has been changing. Americans continue drinking less milk while consuming more cheese and butter. This long-term shift towards processed dairy products will drive market growth for milk in the mid-term. In Asia, imported produce is becoming highly sought after and this should expand exports of American cheese and other dairy products, while additionally driving demand for milk.

U.S. Milk Production

In 2020, approx. 118M tonnes of milk were produced in the U.S.; picking up by 1.6% compared with 2019 figures. The total output volume increased at an average annual rate of +1.3% from 2012 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by 2.7% year-to-year. Milk production peaked in 2020 and is expected to retain growth in the immediate term.

In value terms, milk production expanded significantly to $127.8B in 2020. The total output value increased at an average annual rate of +4.4% over the period from 2012 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Milk production peaked at $130.4B in 2017; however, from 2018 to 2020, production remained at a lower figure.

U.S. Milk Imports

For the third consecutive year, the U.S. recorded growth in purchases abroad of milk, which increased by 7.2% to 19K tonnes in 2020. Overall, imports recorded buoyant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 51% against the previous year. Over the period under review, imports hit record highs in 2020 and are expected to retain growth in years to come (IndexBox estimates).

In value terms, milk imports dropped rapidly to $22M in 2020. Overall, imports posted a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 24% year-to-year. As a result, imports reached a peak of $30M. from 2019 to 2020, the growth of imports remained at a lower figure.

In 2020, whole fresh milk (31K tonnes) constituted the largest type of milk supplied to the U.S., with a 68% share of total imports. Moreover, whole fresh milk exceeded the figures recorded for the second-largest type, skim milk of cows (14K tonnes), twofold.

Canada (25K tonnes), Mexico (16K tonnes) and New Zealand (818 tonnes) were the main suppliers of milk imports to the U.S. In value terms, Mexico ($35M), Canada ($25M) and New Zealand ($1.9M) appeared to be the largest milk suppliers to the U.S.

In 2020, the average milk import price amounted to $1,157 per tonne, waning by -21.3% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was New Zealand ($2,270 per tonne), while the price for Canada ($997 per tonne) was amongst the lowest.

Source: IndexBox Platform

Optical Fiber Cables
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The Transition to 5G to Boost Demand for Optical Fiber

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IndexBox has just published a new report: ‘World – Optical Fiber Cables – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

As countries implement 5G networks, the increased demand is predicted to significantly drive the market for optical fiber to reach 1.5M tonnes by 2030. This new generation of mobile broadband will require building dense networks of base stations connected by optical fiber cables.  In the near future, the U.S., China, Japan and the EU should become the most lucrative markets for sales and distribution of fiber optics.

Key Trends and Insights

The optical fiber market faces a new era of development as 5G networks are implemented all over. The next-generation network will require a significantly larger amount of fiber optic base stations because it uses a high-frequency signal that cannot cover large distances. There is no alternative to optical fiber, as it is the only effective cable material that provides the necessary high data transfer rates. As a consequence, the demand for optical fiber is expected to sky-rocket and the global optical fiber market could reach 1.5M tonnes by 2030.

The U.S., China and Japan demonstrate the highest potential for consumption of optical fiber due to their emphasis on developing infrastructure for fifth-generation networks. The U.S. in all likelihood may become the largest consumer of optical fiber due to the size of its territory. Saudia Arabia, the EU and Australia are also actively implementing 5G technology.

Currently, China has installed approx. 70% of the world’s base stations, making it the largest consumer of the optical fiber at 135K tonnes in 2020 and leading all other countries with its rate for implementing 5G. According to the 14th Five-Year Plan (2021-2025), the number of 5G base stations in China will double by 2022 and by 2023 the total will surpass 5.1M.

The U.S. comes in second for consumption with 125K tonnes in 2020. The Biden administration has announced that it will allocate $100B to develop the infrastructure for broadband access within its eight-year plan. This should accelerate the expansion of the country’s 5G network coverage.

The Japanese government declared that implementing 5G is one of the government’s highest priorities while Japanese telecom companies plan to invest more than $14B into infrastructure for 5G networks, including base stations, server equipment and optical fiber.

Optical fiber is the ideal material that can achieve the high performance claimed by 5G, as it provides over 1K times as much bandwidth as a copper link. The lack of alternatives and overall demand for optical fiber will make this segment of the cable industry more and more attractive for investment.

Global Optical Fiber Cable Consumption

In 2020, the global optical fiber cables market decreased by -3.9% to $13.7B for the first time since 2017, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 9.7% year-to-year. Over the period under review, the global market reached the peak level at $14.4B in 2012; however, from 2013 to 2020, consumption failed to regain momentum.

The countries with the highest volumes of optical fiber cables consumption in 2020 were China (135K tonnes), the U.S. (125K tonnes) and Mexico (61K tonnes), together comprising 31% of global consumption.

In value terms, the U.S. ($2.3B), China ($1.4B) and France ($788M) were the countries with the highest levels of market value in 2020, together accounting for 33% of the global market.

The countries with the highest levels of optical fiber cables per capita consumption in 2020 were France (625 kg per 1000 persons), Turkey (486 kg per 1000 persons) and Mexico (453 kg per 1000 persons).

Global Optical Fiber Exports

For the ninth year in a row, the global market recorded growth in overseas shipments of optical fiber cables, which increased by 6.7% to 596K tonnes in 2020. In value terms, optical fiber cables exports contracted to $6.8B (IndexBox estimates) in 2020.

China dominates optical fiber cable export structure, resulting in 344K tonnes, which was near 58% of total exports in 2020. Mexico (46K tonnes) ranks second in terms of total exports with a 7.7% share, followed by the U.S. (6.7%). The following exporters – Poland (13K tonnes), Spain (12K tonnes), South Korea (12K tonnes), Germany (12K tonnes) and Romania (11K tonnes) – each amounted to a 10% share of total exports.

In value terms, the largest optical fiber cables supplying countries worldwide were China ($2B), the U.S. ($1B) and Mexico ($702M), with a combined 55% share of global exports. These countries were followed by Poland, Germany, South Korea, Romania and Spain, which together accounted for a further 14%.

In 2020, the average optical fiber cables export price amounted to $11,350 per tonne, which is down by -16.8% against the previous year. From 2012 to 2020, the most notable rate of growth in terms of prices was attained by the UK, while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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The European Cat and Dog Food Market Posts Solid Gains Even During the Pandemic

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IndexBox has just published a new report: ‘EU – Dog And Cat Food – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

Cat and dog food consumption in the EU increased tangibly in 2020, which indicates that during the pandemic, pet owners did not curb their pet spending patterns. Over the last decade, the number of domestic animals has increased steadily in the EU. This trend is forecast to continue in the medium term, encouraging the further expansion of the prepared pet food market. 

Key Trends and Insights

According to Eurostat data, production of packaged cat and dog food in the EU in 2020 increased by 3.2%, buoyed by stable demand. During the pandemic, pet owners started to spend more time with their animals, continuing to splash out on their treats.

The first half of 2020 brought a sharp rise in the sale of pet food, as pet owners laid in supplies to last them through the pandemic. Afterward, sales of pet food calmed down but still enabled the annual market volume to grow by +6.8% against 2019.

Over the past decade, demand for cat and dog food has pursued a positive trend due to domestic animals becoming increasingly popular in the EU. The last report by the European Pet Food Industry (FEDIAF), estimates that approx. 42 million households in the EU own at least one cat or dog. From 2010 to 2019, the population of cats in Europe increased by 26%, and the number of dogs grew by 19%. This trend is expected to continue on the backdrop of a rising population and incomes, which should prompt the expansion of the pet food market to 9.7M tonnes by 2030 (IndexBox estimates).

Pet nutrition remains a subject under close scrutiny in the EU and stringent standards apply to pet food production. High quality prepared feed provides balanced diets for pets, maintain their health and save the owner’s time when preparing food for animals. These factors promote the market expansion by moving away from homemade pet food and switching to prepared feed.

Cat and Dog Food Consumption by Country

The EU dog and cat food market rose notably to $12.6B in 2020, surging by 8.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.3% from 2012 to 2020.

The countries with the highest volumes of dog and cat food consumption in 2020 were France (1.7M tonnes), Germany (1.3M tonnes) and Italy (953K tonnes), with a combined 46% share of total consumption. Spain, Poland, Belgium, Romania, Portugal, Hungary, Austria, Sweden, Ireland and the Czech Republic lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2020, the most notable rate of growth in terms of dog and cat food consumption, amongst the leading consuming countries, was attained by Romania, while dog and cat food consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest dog and cat food markets in the European Union were France ($2.8B), Germany ($2.8B) and Italy ($1.1B), together comprising 52% of the total market. Poland, Spain, Belgium, Austria, Sweden, Portugal, the Czech Republic, Romania, Ireland and Hungary lagged somewhat behind, together accounting for a further 37%.

The countries with the highest levels of dog and cat food per capita consumption in 2020 were Ireland (44 kg per person), Portugal (35 kg per person) and Hungary (34 kg per person).

Cat and Dog Food Imports in the EU

For the ninth consecutive year, the European Union recorded growth in overseas purchases of dog and cat food, which increased by 5.6% to 4.7M tonnes in 2020. The total import volume increased at an average annual rate of +4.6% from 2012 to 2020. In value terms, dog and cat food imports expanded markedly to $8B in 2020.

In 2020, Germany (775K tonnes), followed by France (468K tonnes), Poland (395K tonnes), Italy (366K tonnes), Belgium (345K tonnes), Romania (283K tonnes) and Spain (238K tonnes) were the major importers of dog and cat food, together committing 61% of total imports. The Netherlands (210K tonnes), Portugal (198K tonnes), Austria (185K tonnes), the Czech Republic (174K tonnes), Hungary (142K tonnes) and Sweden (134K tonnes) took a little share of the total imports.

In value terms, Germany ($1.6B) constitutes the largest market for imported dog and cat food in the European Union, comprising 21% of total imports. The second position in the ranking was occupied by France ($822M), with a 10% share of total imports. It was followed by Poland, with a 9% share.

The average dog and cat food import price in the European Union stood at $1,690 per tonne in 2020. Prices varied noticeably by the country of destination; the country with the highest price was Germany ($2,124 per tonne), while Romania ($831 per tonne) was amongst the lowest.

Source: IndexBox AI Platform

sunflower oil
Archives, Global Trade Daily, Imports/Exports, News

Rising Demand Drives Global Sunflower Oil Market Despite the Ongoing Price Rally

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IndexBox has just published a new report: ‘World – Sunflower-Seed And Safflower Oil – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

Over the past year, the prices for sunflower oil have doubled, driven by robust demand and depleting sunflower seed stocks. The dry weather conditions negatively affected the sunflower crop yield in 2020, but the market is now seeing a sturdy recovery. The production of sunflower oil is forecast to increase in 2021 due to strong demand that promotes investments in the expansion of harvested areas.

Key Trends and Insights

In 2020, the adverse weather conditions caused global sunflower production to fall by 9% against 2019. This led to the rapid depletion of global stocks and the subsequent rise in prices for sunflower seeds and oil. The average price for sunflower oil in 2020 stood at $795 per tonne (EU FOB NW Euro); in the first six months of 2021, prices reached $1,321 per tonne.

Despite prices rising at an exorbitant rate, the demand for sunflower oil is set to remain stable, supported by the growing consumption of food oil and biofuels. Should the HoReCa and tourism sectors resume full operation, a further increase in demand is expected in the medium term.

The competing oils available on the market are also seeing a similar record rise in prices. The cost of soybean oil increased from $785 / tonne (Dutch FOB; Ex-Mill) to $1,112 / tonne, and palm oil from $645 to $955 / tonne (Malaysia FOB; RBD) over the same period. This means that sunflower oil follows the global trend of accelerating food inflation and should hold its position among competing oils in the global market.

In 2021, global exports of sunflower oil are forecast to increase by 14% y-o-y, reaching 12.6М tonnes. The EU, China, India, Iraq and Turkey feature among the most attractive destinations for export due to rising food demand from expanding middle class and urban population. Imports of sunflower oil to India may increase by 250К tonnes, to 2.5М tonnes, while imports to Turkey may see an increase of 850К tonnes.

This year, the global sunflower oil output is forecast to increase by 4% to 39М tonnes, spurred by a record acreage expansion and the anticipated favourable weather outlook. New areas of land for sunflower crop cultivation in Russia, Ukraine, the EU, Argentina, Turkey and Moldova should trigger the further growth of sunflower seed production. In the U.S. and China, sunflower oil production is forecast to decline due to a reduction in areas under sunflower against rising plantations of soybeans.

Sunflower Oil Consumption by Country

The countries with the highest volumes of sunflower-seed and safflower oil consumption in 2020 were Russia (3.6M tonnes), India (2.6M tonnes) and China (2.4M tonnes), together comprising 37% of global consumption. Turkey, Argentina, Spain, Ukraine, Iran, Italy, France, Belgium, the Netherlands and South Africa lagged somewhat behind, accounting for a further 34%.

In value terms, the largest sunflower-seed and safflower oil markets worldwide were Russia ($3.1B), India ($2.2B) and Turkey ($2B), together comprising 33% of the global market. China, Argentina, Spain, Ukraine, Italy, France, Iran, South Africa, Belgium and the Netherlands lagged somewhat behind, comprising a further 35% (IndexBox estimates).

The countries with the highest levels of sunflower-seed and safflower oil per capita consumption in 2020 were Belgium (39 kg per person), the Netherlands (26 kg per person) and Russia (25 kg per person).

Global Sunflower-Seed and Safflower Oil Exports

In 2020, approx. 11M tonnes of sunflower-seed and safflower oil were exported worldwide, falling by -17.3% compared with 2019. In value terms, sunflower-seed and safflower oil exports shrank to $10B in 2020.

Ukraine represented the major exporting country with an export of about 5.1M tonnes, which finished at 46% of total exports. Russia (1,568K tonnes) held a 14% share (based on tonnes) of total exports, which put it in second place, followed by the Netherlands (6.7%) and Hungary (4.7%). France (370K tonnes), Bulgaria (334K tonnes), Argentina (317K tonnes), Spain (221K tonnes), Germany (195K tonnes) and Romania (191K tonnes) took a relatively small share of total exports.

Exports from Ukraine increased at an average annual rate of +4.6% from 2012 to 2020. At the same time, Bulgaria (+15.7%), Spain (+8.9%), the Netherlands (+7.4%), Russia (+6.3%), Romania (+3.8%), Germany (+3.4%) and Hungary (+3.2%) displayed positive paces of growth. By contrast, France (-2.3%) and Argentina (-8.8%) illustrated a downward trend over the same period.

In value terms, Ukraine ($4.3B) remains the largest sunflower-seed and safflower oil supplier worldwide, comprising 43% of global exports. The second position in the ranking was occupied by Russia ($1.3B), with a 13% share of global exports. It was followed by the Netherlands, with a 7.2% share.

Source: IndexBox AI Platform

baryte
Archives, Global Trade Daily, News

Drilling Rig Curbs Squeeze the Global Baryte Market

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IndexBox has just published a new report: ‘World – Barytes – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2020, the global baryte market fell by 15%, hampered by a severe decline seen in the oil industry, which currently consumes 80% of the total baryte output. India remained the only country to maintain 2019 production figures. While the oil industry is set to operate at minimum production levels in the medium term, alternative chemical, coating, and construction baryte applications may emerge as market drivers. 

Key Trends and Insights

In 2020, global baryte production fell by near 20% y-o-y to 7.8М tonnes (IndexBox estimates). Many baryte mining and processing companies ceased to operate following the sharp slump in demand from the oil and gas sector, which consumes 80% of global baryte output. In accordance with Baker Hughes data, the number of drilling rigs declined from 2,177 in 2019 to 1,352 in 2020, and only 1,228 rigs remained in operation in early 2021.

In most countries, baryte exports in 2020 experienced a twofold decrease. India remained the exception, compensating for the drop in exports to the U.S. by increasing export supplies to the Middle East. Despite the decrease of 2020, India and China remain the largest baryte producers in the world and continue to dominate the global exports with a combined share of 55%.

Following the slump seen in 2020, the forecast indicates that the global baryte market may reach 8M tonnes by 2030, achieving an average annual growth rate of 1.0% CAGR over the period from 2020-2030. Maintaining oil and gas drilling even at the minimum level will buoy baryte consumption. Further expansion of the market is more likely to come from the increased demand for barytes as a filler for resin, paper, linoleum, primers for vehicle coatings, and high-density concretes.

Global Baryte Consumption

The countries with the highest volumes of baryte consumption in 2020 were China (2M tonnes), the U.S. (1M tonnes) and Saudi Arabia (688K tonnes), together accounting for 51% of global consumption. These countries were followed by India, Kazakhstan, Morocco, Russia, Kuwait and Iran, which accounted for a further 29%.

From 2007 to 2020, the most notable growth rate in terms of baryte consumption, amongst the key consuming countries, was attained by Kazakhstan, while baryte consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($272M) led the market, alone. The second position in the ranking was occupied by the U.S. ($133M). It was followed by Kazakhstan.

Global Baryte Imports

The U.S. (855K tonnes) and Saudi Arabia (688K tonnes) represented roughly 51% of total imports of barytes in 2020. Kuwait (218K tonnes) held the next position in the ranking, followed by the Netherlands (195K tonnes). All these countries together took near 14% share of total imports. The United Arab Emirates (106K tonnes), Russia (82K tonnes), Spain (75K tonnes), Oman (65K tonnes), Norway (61K tonnes), Azerbaijan (59K tonnes), Argentina (53K tonnes) and Indonesia (53K tonnes) held a relatively small share of total imports.

In value terms, the U.S. ($122M) constitutes the largest market for imported barytes worldwide, comprising 29% of global imports. The second position in the ranking was occupied by Saudi Arabia ($59M), with a 14% share of global imports. It was followed by the Netherlands, with a 6.3% share.

In the U.S., baryte imports expanded at an average annual rate of +1.9% over 2007-2020. In the other countries, the average annual rates were as follows: Saudi Arabia (+12.0% per year) and the Netherlands (+1.9% per year).

In 2020, the average baryte import price amounted to $138 per tonne, picking up by 9.1% against the previous year. There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Azerbaijan ($206 per tonne), while Kuwait ($74 per tonne) was amongst the lowest.

Source: IndexBox AI Platform