Finland: Organ Extracts Market 2024

Organ Extracts Market Size in Finland

In 2021, the Finnish organ extracts market decreased by -10% to $X, falling for the fourth year in a row after three years of growth. Over the period under review, consumption continues to indicate a noticeable descent. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Organ Extracts Production in Finland

In value terms, organ extracts production declined slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 2% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Organ Extracts Exports

Exports from Finland

In 2021, shipments abroad of extracts of glands or other organs or of their secretions increased by 15% to X kg, rising for the second year in a row after two years of decline. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 859% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, organ extracts exports soared to $X in 2021. Over the period under review, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 12,569% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for organ extracts exports from Finland, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +34.0%.

In value terms, the United States ($X) emerged as the key foreign market for extracts of glands or other organs or of their secretions exports from Finland, comprising 100% of total exports. The second position in the ranking was taken by Norway ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+1.9% per year) and Denmark (-100.0% per year).

Export Prices by Country

In 2021, the average organ extracts export price amounted to $X per kg, growing by 3,869% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 11,718% against the previous year. The export price peaked at $X per kg in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 ($X per kg), while the average price for exports to Denmark ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1,948.4%), while the prices for the other major destinations experienced more modest paces of growth.

Organ Extracts Imports

Imports into Finland

Organ extracts imports into Finland shrank sharply to X kg in 2021, declining by -29.4% compared with the previous year's figure. Over the period under review, imports showed a deep contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 118% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, organ extracts imports skyrocketed to $X in 2021. In general, imports recorded a sharp contraction. The most prominent rate of growth was recorded in 2017 with an increase of 65%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X kg), the United States (X kg) and Japan (X kg) were the main suppliers of organ extracts imports to Finland, together comprising 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +2,600.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of extracts of glands or other organs or of their secretions to Finland, comprising 66% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by Germany, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from Russia stood at +50.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+106.4% per year) and Germany (-17.6% per year).

Import Prices by Country

The average organ extracts import price stood at $X per kg in 2021, rising by 111% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 141%. Over the period under review, average import prices hit record highs at $X per kg in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-18.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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