Finland: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Finland

The Finnish market for colouring matter of vegetable or animal origin soared to $X in 2021, growing by 16% 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 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Finland

In 2021, shipments abroad of colouring matter of vegetable or animal origin increased by 210% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a notable increase. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, vegetable or animal colouring matter exports soared to $X in 2021. Overall, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for vegetable or animal colouring matter exports from Finland, accounting for a 65% share of total exports. Moreover, vegetable or animal colouring matter exports to the United States exceeded the volume sent to the second major destination, Estonia (X kg), fivefold. The third position in this ranking was taken by Sweden (X kg), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +86.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-5.1% per year) and Sweden (+4.8% per year).

In value terms, the United States ($X) remains the key foreign market for colouring matter of vegetable or animal origin exports from Finland, comprising 88% of total exports. The second position in the ranking was held by Sweden ($X), with a 4% share of total exports. It was followed by Estonia, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +84.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+24.2% per year) and Estonia (-6.8% per year).

Export Prices by Country

The average export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, with an increase of 8.9% against the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 202% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Latvia ($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 Sweden (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Finland

Vegetable or animal colouring matter imports into Finland rose notably to X tons in 2021, picking up by 11% compared with 2020 figures. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 19% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, vegetable or animal colouring matter imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Denmark (X tons), France (X tons) and Germany (X tons) were the main suppliers of vegetable or animal colouring matter imports to Finland, with a combined 68% share of total imports. The Netherlands, the UK, Sweden and Spain lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +31.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable or animal colouring matter suppliers to Finland were Denmark ($X), the Netherlands ($X) and Germany ($X), together comprising 82% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +20.0%, recorded 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 Country

In 2021, the average import price for colouring matter of vegetable or animal origin amounted to $X per ton, growing by 9.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 when the average import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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