Finland: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Finland

The Finnish market for caviar (salmon) and caviar substitutes shrank significantly to $X in 2021, reducing by -27.5% 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, consumption recorded a deep setback. Caviar (salmon) and caviar substitutes consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports from Finland

Caviar (salmon) and caviar substitutes exports from Finland fell to X tons in 2021, reducing by -5.8% on 2020. In general, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 2,243% against the previous year. The exports peaked at X tons in 2020, and then shrank in the following year.

In value terms, caviar (salmon) and caviar substitutes exports soared to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2018 when exports increased by 2,821% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Estonia (X tons), Ukraine (X tons) and Germany (X tons) were the main destinations of caviar (salmon) and caviar substitutes exports from Finland, with a combined 86% share of total exports. Lithuania, Russia, Sweden and Latvia lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +2,655.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for caviar (salmon) and caviar substitutes exported from Finland were Ukraine ($X), Estonia ($X) and Russia ($X), with a combined 85% share of total exports.

Russia, with a CAGR of +3,021.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for caviar (salmon) and caviar substitutes amounted to $X per ton, picking up by 28% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 162%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while the average price for exports to Latvia ($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 Lithuania (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports into Finland

For the third year in a row, Finland recorded decline in supplies from abroad of caviar (salmon) and caviar substitutes, which decreased by -20.3% to X tons in 2021. Overall, imports saw a pronounced reduction. The growth pace was the most rapid in 2014 with an increase of 42% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, caviar (salmon) and caviar substitutes imports shrank rapidly to $X in 2021. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 35% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of caviar (salmon) and caviar substitutes to Finland, accounting for a 64% share of total imports. Moreover, caviar (salmon) and caviar substitutes imports from Sweden exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden stood at -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+21.7% per year) and Canada (-0.3% per year).

In value terms, Sweden ($X) constituted the largest supplier of caviar (salmon) and caviar substitutes to Finland, comprising 46% of total imports. The second position in the ranking was taken by Denmark ($X), with a 23% share of total imports. It was followed by Canada, with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden stood at -9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+18.2% per year) and Canada (-1.1% per year).

Import Prices by Country

The average import price for caviar (salmon) and caviar substitutes stood at $X per ton in 2021, dropping by -9.6% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 37%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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