Finland: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Finland

The Finnish preparations for animal feeding market surged to $X in 2022, increasing by 33% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Preparations Used In Animal Feeding in Finland

In value terms, preparations for animal feeding production surged to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Preparations Used In Animal Feeding

Exports from Finland

In 2022, shipments abroad of preparations used in animal feeding decreased by -24.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 86% against the previous year. The exports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, preparations for animal feeding exports expanded remarkably to $X in 2022. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 82% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Norway (X tons), Russia (X tons) and Sweden (X tons) were the main destinations of preparations for animal feeding exports from Finland, with a combined 75% share of total exports. Poland, Italy, Germany, Estonia, Denmark, Latvia and the Netherlands lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +85.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Norway ($X) and Sweden ($X) constituted the largest markets for preparations for animal feeding exported from Finland worldwide, together comprising 77% of total exports.

Norway, with a CAGR of +75.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, increasing by 44% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding export price increased by +57.7% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Finland

After two years of growth, purchases abroad of preparations used in animal feeding decreased by -17.2% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 36%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, preparations for animal feeding imports amounted to $X in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 13% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Denmark (X tons), Poland (X tons) and China (X tons) were the main suppliers of preparations for animal feeding imports to Finland, together comprising 38% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +40.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), China ($X) and Germany ($X) constituted the largest preparations for animal feeding suppliers to Finland, together accounting for 34% of total imports.

China, with a CAGR of +25.5%, recorded the highest growth rate of the value of imports, among 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 preparations for animal feeding import price stood at $X per ton in 2022, with an increase of 33% against the previous year. In general, import price indicated a resilient 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, preparations for animal feeding import price increased by +13.8% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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