Oct 17, 2025
IndexBox has just published a new report: Europe – Refined Groundnut Oil – Market Analysis, Forecast, Size, Trconcludes And Insights.
The European refined groundnut oil market was valued at $1.3 billion in 2024, with a consumption volume of 362 thousand tons. The market is forecast to grow, reaching 396 thousand tons in volume and $1.6 billion in value by 2035. Germany, the UK, and France are the largest consuming countries, while Germany, Russia, and the UK lead in production. Imports saw a significant increase to 22 thousand tons in 2024, led by France and the UK, while exports fell to 17 thousand tons, with Belgium as the primary supplier. Price trconcludes reveal export prices rising to $2,970 per ton, while import prices fell to $2,599 per ton.
Key Findings
- Europe’s refined groundnut oil market is forecast to grow to 396K tons and $1.6B by 2035
- Germany, the UK, and France are the top consuming nations, accounting for 43% of total volume
- Market production declined to 357K tons in 2024, with Germany, Russia, and the UK as leading producers
- Imports surged by 42% to 22K tons, driven by France and the UK, while exports fell by 25% to 17K tons
- Significant price divergence exists, with export prices at $2,970/ton and import prices at $2,599/ton
Market Forecast
Driven by increasing demand for refined groundnut oil in Europe, the market is expected to continue an upward consumption trconclude over the next decade. Market performance is forecast to retain its current trconclude pattern, expanding with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market volume to 396K tons by the conclude of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $1.6B (in nominal wholesale prices) by the conclude of 2035.
Consumption
Europe’s Consumption of Refined Groundnut Oil
In 2024, consumption of refined groundnut oil in Europe contracted to 362K tons, approximately equating 2023 figures. Over the period under review, consumption, however, continues to indicate a relatively flat trconclude pattern. The volume of consumption peaked at 448K tons in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure.
The value of the refined groundnut oil market in Europe dropped modestly to $1.3B in 2024, which is down by -3.6% 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 +1.3% over the period from 2013 to 2024; the trconclude pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $1.4B in 2023, and then dropped modestly in the following year.
Consumption By Countest
The countries with the highest volumes of consumption in 2024 were Germany (64K tons), the UK (46K tons) and France (46K tons), toobtainher accounting for 43% of total consumption. Russia, Italy, Spain, Romania, the Netherlands, Ukraine and the Czech Republic lagged somewhat behind, toobtainher accounting for a further 37%.
From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Romania (with a CAGR of +1.5%), while consumption for the other leaders experienced more modest paces of growth.
In value terms, Germany ($271M), the UK ($225M) and Russia ($181M) constituted the countries with the highest levels of market value in 2024, toobtainher accounting for 50% of the total market. Spain, France, Italy, Romania, Ukraine, the Netherlands and the Czech Republic lagged somewhat behind, toobtainher accounting for a further 34%.
In terms of the main consuming countries, Spain, with a CAGR of +6.2%, saw the highest rates of growth with regard to market size over the period under review, while market for the other leaders experienced more modest paces of growth.
The countries with the highest levels of refined groundnut oil per capita consumption in 2024 were Germany (778 kg per 1000 persons), the Czech Republic (701 kg per 1000 persons) and France (677 kg per 1000 persons).
From 2013 to 2024, the largegest increases were recorded for Romania (with a CAGR of +2.1%), while consumption for the other leaders experienced more modest paces of growth.
Production
Europe’s Production of Refined Groundnut Oil
In 2024, approx. 357K tons of refined groundnut oil were produced in Europe; falling by -3.9% on the year before. Over the period under review, production, however, recorded a relatively flat trconclude pattern. The pace of growth was the most pronounced in 2016 with an increase of 26% against the previous year. Over the period under review, production reached the maximum volume at 447K tons in 2017; however, from 2018 to 2024, production remained at a lower figure.
In value terms, refined groundnut oil production fell to $1.3B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2013 to 2024; the trconclude pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 21%. The level of production peaked at $1.4B in 2023, and then fell in the following year.
Production By Countest
The countries with the highest volumes of production in 2024 were Germany (63K tons), Russia (43K tons) and the UK (42K tons), toobtainher comprising 41% of total production. France, Italy, Spain, Belgium, Romania, Ukraine and the Netherlands lagged somewhat behind, toobtainher accounting for a further 39%.
From 2013 to 2024, the largegest increases were recorded for the Netherlands (with a CAGR of +2.4%), while production for the other leaders experienced more modest paces of growth.
Imports
Europe’s Imports of Refined Groundnut Oil
Refined groundnut oil imports skyrocketed to 22K tons in 2024, picking up by 42% against the previous year’s figure. Overall, imports, however, continue to indicate a relatively flat trconclude pattern. Over the period under review, imports reached the peak figure at 25K tons in 2014; however, from 2015 to 2024, imports stood at a somewhat lower figure.
In value terms, refined groundnut oil imports soared to $58M in 2024. Over the period under review, imports saw a relatively flat trconclude pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. Over the period under review, imports reached the maximum in 2024 and are likely to see gradual growth in years to come.
Imports By Countest
In 2024, France (6.8K tons), distantly followed by the UK (4K tons), the Netherlands (3.4K tons), Germany (2.7K tons) and Norway (1.3K tons) represented the major importers of refined groundnut oil, toobtainher creating 81% of total imports. The following importers – Belgium (794 tons) and Spain (728 tons) – toobtainher built up 6.8% of total imports.
From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by France (with a CAGR of +6.3%), while imports for the other leaders experienced mixed trconcludes in the imports figures.
In value terms, the largest refined groundnut oil importing markets in Europe were France ($13M), the UK ($11M) and the Netherlands ($9.5M), with a combined 59% share of total imports.
Among the main importing countries, the UK, with a CAGR of +6.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Countest
In 2024, the import price in Europe amounted to $2,599 per ton, which is down by -11.9% against the previous year. In general, the import price, however, recorded a relatively flat trconclude pattern. The pace of growth appeared the most rapid in 2021 an increase of 23%. The level of import peaked at $2,950 per ton in 2023, and then reduced in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the countest with the highest price was Spain ($3,398 per ton), while France ($1,964 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+7.0%), while the other leaders experienced more modest paces of growth.
Exports
Europe’s Exports of Refined Groundnut Oil
In 2024, approx. 17K tons of refined groundnut oil were exported in Europe; declining by -25.4% against 2023. Over the period under review, exports continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2023 with an increase of 26%. Over the period under review, the exports hit record highs at 25K tons in 2018; however, from 2019 to 2024, the exports failed to regain momentum.
In value terms, refined groundnut oil exports contracted dramatically to $50M in 2024. Overall, exports revealed a relatively flat trconclude pattern. The pace of growth appeared the most rapid in 2021 with an increase of 37% against the previous year. The level of export peaked at $64M in 2023, and then reduced sharply in the following year.
Exports By Countest
In 2024, Belgium (7.8K tons) represented the largest exporter of refined groundnut oil, mixing up 46% of total exports. It was distantly followed by France (2.8K tons), the Netherlands (2.3K tons), Italy (2.2K tons) and Germany (1.2K tons), toobtainher comprising a 50% share of total exports.
Exports from Belgium decreased at an average annual rate of -3.3% from 2013 to 2024. At the same time, Italy (+12.4%) and Germany (+9.7%) displayed positive paces of growth. Moreover, Italy emerged as the rapidest-growing exporter exported in Europe, with a CAGR of +12.4% from 2013-2024. By contrast, the Netherlands (-1.6%) and France (-6.1%) illustrated a downward trconclude over the same period. From 2013 to 2024, the share of Italy and Germany increased by +10 and +5.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Belgium ($22M) remains the largest refined groundnut oil supplier in Europe, comprising 44% of total exports. The second position in the ranking was held by France ($7.3M), with a 15% share of total exports. It was followed by the Netherlands, with a 13% share.
In Belgium, refined groundnut oil exports contracted by an average annual rate of -1.9% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: France (-5.3% per year) and the Netherlands (+1.2% per year).
Export Prices By Countest
In 2024, the export price in Europe amounted to $2,970 per ton, surging by 4.8% against the previous year. Export price indicated a modest increase from 2013 to 2024: its price increased at an average annual rate of +1.8% over the last eleven years. The trconclude pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, refined groundnut oil export price increased by +56.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 19%. Over the period under review, the export prices hit record highs in 2024 and is likely to see steady growth in the near future.
Prices varied noticeably by countest of origin: amid the top suppliers, the countest with the highest price was Germany ($4,571 per ton), while France ($2,634 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.8%), while the other leaders experienced more modest paces of growth.
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