Finland: Powdered Milk Market 2024

Powdered Milk Market Size in Finland

The Finnish powdered milk market rose remarkably to $X in 2022, with an increase of 14% against the previous year. Overall, consumption recorded a remarkable increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Powdered Milk Production in Finland

In value terms, powdered milk production totaled $X in 2022 estimated in export price. Over the period under review, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 117% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Powdered Milk Exports

Exports from Finland

Powdered milk exports from Finland declined to X tons in 2022, waning by -8.9% compared with the year before. Overall, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 55% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, powdered milk exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 63%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for powdered milk exports from Finland, with a 63% share of total exports. Moreover, powdered milk exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+7.5% per year) and Sweden (+6.9% per year).

In value terms, China ($X) remains the key foreign market for powdered milk exports from Finland, comprising 63% of total exports. The second position in the ranking was taken by Sweden ($X), with a 5% share of total exports. It was followed by the Netherlands, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+13.1% per year) and the Netherlands (+12.0% per year).

Export Prices by Country

In 2022, the average powdered milk export price amounted to $X per ton, surging by 34% against the previous year. Over the period under review, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 50% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Russia ($X per ton) and Sweden ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Finland

In 2022, overseas purchases of powdered milk were finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a perceptible descent. The growth pace was the most rapid in 2017 when imports increased by 55%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, powdered milk imports totaled $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 115% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Estonia (X tons) constituted the largest powdered milk supplier to Finland, with a 61% share of total imports. Moreover, powdered milk imports from Estonia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Austria (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Estonia amounted to +51.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+26.1% per year) and Austria (+35.7% per year).

In value terms, Estonia ($X), the Netherlands ($X) and Austria ($X) appeared to be the largest powdered milk suppliers to Finland, together accounting for 91% of total imports.

Estonia, with a CAGR of +54.4%, recorded 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 powdered milk import price stood at $X per ton in 2022, picking up by 2.1% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +41.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 39% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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