Denmark: Soups Market 2024

Soups Market Size in Denmark

In 2021, the Danish soups market increased by 5.2% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 7% against the previous year. Soups consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Soups Production in Denmark

In value terms, soups production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 8.3%. Soups production peaked in 2021 and is likely to see steady growth in the immediate term.

Soups Exports

Exports from Denmark

In 2021, after two years of growth, there was decline in overseas shipments of soups and broths, when their volume decreased by -2.5% to X tons. The total export volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 17%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, soups exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 22%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for soups exports from Denmark, with a 73% share of total exports. Moreover, soups exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), ninefold. Iceland (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.0% per year) and Iceland (+4.9% per year).

In value terms, Sweden ($X) remains the key foreign market for soups and broths exports from Denmark, comprising 41% of total exports. The second position in the ranking was held by Germany ($X), with a 12% share of total exports. It was followed by Iceland, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.3% per year) and Iceland (+3.4% per year).

Export Prices by Country

The average soups export price stood at $X per ton in 2021, picking up by 11% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Soups Imports

Imports into Denmark

In 2021, purchases abroad of soups and broths decreased by -5.4% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2016 with an increase of 38%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, soups imports expanded slightly to $X in 2021. Overall, imports saw a mild downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 29%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Sweden (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of soups imports to Denmark, with a combined 54% share of total imports. These countries were followed by the Netherlands, France, Italy and China, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +17.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), Germany ($X) and Poland ($X) were the largest soups suppliers to Denmark, together comprising 52% of total imports. The Netherlands, France, China and Italy lagged somewhat behind, together comprising a further 29%.

The Netherlands, with a CAGR of +13.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soups import price stood at $X per ton in 2021, growing by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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