Finland: Animal Feed Market 2024

Animal Feed Market Size in Finland

For the third consecutive year, the Finnish animal feed market recorded growth in sales value, which increased by 37% to $X in 2022. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Animal Feed Production in Finland

In value terms, animal feed production surged to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Animal Feed Exports

Exports from Finland

After three years of growth, overseas shipments of animal and pet feed decreased by -41.6% to X tons in 2022. In general, exports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 91% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell sharply in the following year.

In value terms, animal feed exports fell rapidly to $X in 2022. Overall, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2019 when exports increased by 101% against the previous year. The exports peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Norway (X tons) was the main destination for animal feed exports from Finland, with a 41% share of total exports. Moreover, animal feed exports to Norway exceeded the volume sent to the second major destination, Sweden (X tons), threefold. The third position in this ranking was held by Russia (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway amounted to +71.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+34.3% per year) and Russia (-14.0% per year).

In value terms, Norway ($X) emerged as the key foreign market for animal and pet feed exports from Finland, comprising 47% of total exports. The second position in the ranking was held by Russia ($X), with a 15% share of total exports. It was followed by Poland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway amounted to +78.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-10.4% per year) and Poland (+62.6% per year).

Export Prices by Country

In 2022, the average animal feed export price amounted to $X per ton, picking up by 39% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2019 when the average export price increased by 40% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Finland

In 2022, approx. X tons of animal and pet feed were imported into Finland; waning by -17.2% against 2021 figures. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, animal feed imports surged to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Denmark (X tons) constituted the largest animal feed supplier to Finland, with a 32% share of total imports. Moreover, animal feed imports from Denmark exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Denmark stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-4.0% per year) and Belgium (+15.5% per year).

In value terms, Denmark ($X) constituted the largest supplier of animal and pet feed to Finland, comprising 32% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total imports. It was followed by Belgium, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.7% per year) and Belgium (+16.3% per year).

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, growing by 39% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed import price increased by +55.5% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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