Finland: Machinery For Packing Market 2024

Machinery For Packing Market Size in Finland

For the sixth year in a row, the Finnish machinery for packing market recorded growth in sales value, which increased by 64% to $X in 2022. Over the period under review, consumption enjoyed a strong increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Machinery For Packing Production in Finland

In value terms, machinery for packing production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt setback. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Machinery For Packing Exports

Exports from Finland

In 2022, exports of machinery for packing or wrapping from Finland dropped significantly to X units, shrinking by -37.5% against 2021 figures. Overall, exports showed a slight descent. The most prominent rate of growth was recorded in 2015 when exports increased by 103% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machinery for packing exports contracted rapidly to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 41%. The exports peaked at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Russia (X units), the United States (X units) and Germany (X units) were the main destinations of machinery for packing exports from Finland, together comprising 43% of total exports. Estonia, France, China, Spain, Canada, Sweden, Italy, Austria, the UK and Poland lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +19.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for machinery for packing exported from Finland worldwide, together accounting for 41% of total exports. France, Spain, Canada, Estonia, China, Austria, Sweden, Poland, Italy and the UK lagged somewhat behind, together accounting for a further 39%.

In terms of the main countries of destination, Spain, with a CAGR of +21.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average machinery for packing export price amounted to $X per unit, standing approx. at the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 18% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Finland

In 2022, supplies from abroad of machinery for packing or wrapping increased by 24% to X units, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, machinery for packing imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when imports increased by 20%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest machinery for packing supplier to Finland, with a 60% share of total imports. Moreover, machinery for packing imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Sweden (X units) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.7% per year) and Sweden (-5.9% per year).

In value terms, Germany ($X) constituted the largest supplier of machinery for packing or wrapping to Finland, comprising 53% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Switzerland, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.1% per year) and Switzerland (+10.0% per year).

Import Prices by Country

In 2022, the average machinery for packing import price amounted to $X per unit, declining by -4.4% against the previous year. In general, the import price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2018 an increase of 27%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for San Marino ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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