Finland: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Finland

The Finnish sauce and seasoning market was estimated at $X in 2021, rising by 11% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sauce And Seasoning Production in Finland

In value terms, sauce and seasoning production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Sauce And Seasoning Exports

Exports from Finland

In 2021, the amount of sauces and seasonings exported from Finland stood at X tons, surging by 4.8% compared with the previous year's figure. The total export volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 23%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, sauce and seasoning exports rose to $X in 2021. The total export value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 21% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for sauce and seasoning exports from Finland, accounting for a 41% share of total exports. Moreover, sauce and seasoning exports to Russia exceeded the volume sent to the second major destination, Denmark (X tons), twofold. The third position in this ranking was held by Estonia (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+13.8% per year) and Estonia (-6.2% per year).

In value terms, the largest markets for sauce and seasoning exported from Finland were Russia ($X), Denmark ($X) and Estonia ($X), with a combined 75% share of total exports. These countries were followed by Sweden, Lithuania, Ukraine, Latvia, Norway and the UK, which together accounted for a further 19%.

Among the main countries of destination, Ukraine, with a CAGR of +46.9%, 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 2021, the average sauce and seasoning export price amounted to $X per ton, reducing by -2.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Latvia ($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 Lithuania (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Finland

In 2021, overseas purchases of sauces and seasonings increased by 5.5% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 53%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sauce and seasoning imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons), the Netherlands (X tons) and Estonia (X tons) were the main suppliers of sauce and seasoning imports to Finland, together comprising 59% of total imports. Germany, Italy, Belgium, Latvia, Thailand, Portugal, the UK, Denmark, Austria and Turkey lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of +35.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of sauces and seasonings to Finland, comprising 31% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 14% share of total imports. It was followed by Estonia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.7% per year) and Estonia (-1.9% per year).

Import Prices by Country

In 2021, the average sauce and seasoning import price amounted to $X per ton, picking up by 3.3% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 45% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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