Finland: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Finland

The Finnish fish meals and pellet market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, saw a sharp slump. Fish meals and pellet consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish in Finland

In value terms, fish meals and pellet production shrank to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports from Finland

For the fourth consecutive year, Finland recorded growth in overseas shipments of flours, meals and pellets of fish, which increased by 3.6% to X tons in 2021. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 690%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, fish meals and pellet exports rose markedly to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 717%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

Estonia (X tons) was the main destination for fish meals and pellet exports from Finland, accounting for a 80% share of total exports. Moreover, fish meals and pellet exports to Estonia exceeded the volume sent to the second major destination, Japan (X tons), sixfold. The third position in this ranking was held by Sweden (X tons), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Estonia amounted to +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+21.6% per year) and Sweden (+13.2% per year).

In value terms, Estonia ($X) remains the key foreign market for flours, meals and pellets of fish exports from Finland, comprising 75% of total exports. The second position in the ranking was taken by Japan ($X), with a 14% share of total exports. It was followed by Sweden, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Estonia totaled +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+23.4% per year) and Sweden (+15.1% per year).

Export Prices by Country

The average fish meals and pellet export price stood at $X per ton in 2021, rising by 6.4% against the previous year. Over the period under review, the export price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 an increase of 7% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while the average price for exports to Russia ($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 (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Fish

Imports into Finland

In 2021, overseas purchases of flours, meals and pellets of fish decreased by -15.7% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2019 with an increase of 75%. Over the period under review, imports reached the peak figure at X tons in 2020, and then shrank remarkably in the following year.

In value terms, fish meals and pellet imports declined sharply to $X in 2021. Overall, imports recorded a pronounced downturn. The pace of growth was the most pronounced in 2017 with an increase of 66% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then dropped remarkably in the following year.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of fish meals and pellet to Finland, accounting for a 70% share of total imports. Moreover, fish meals and pellet imports from Sweden exceeded the figures recorded by the second-largest supplier, Estonia (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled +32.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+2.0% per year) and Denmark (-46.0% per year).

In value terms, Estonia ($X), Sweden ($X) and Denmark ($X) were the largest fish meals and pellet suppliers to Finland, together comprising 99% of total imports.

Among the main suppliers, Sweden, with a CAGR of +18.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average fish meals and pellet import price amounted to $X per ton, reducing by -22.1% against the previous year. Over the period under review, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2018 an increase of 48%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Estonia ($X per ton), while the price for Sweden ($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 (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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