Finland: Preserved Salmon Market 2024

Preserved Salmon Market Size in Finland

In 2021, after two years of decline, there was significant growth in the Finnish preserved salmon market, when its value increased by 6.2% to $X. Overall, consumption, however, showed a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in Finland

In value terms, preserved salmon production expanded markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2018 when the production volume increased by 195% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Preserved Salmon Exports

Exports from Finland

In 2021, shipments abroad of salmon (prepared or preserved) increased by 118% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed modest growth. The pace of growth was the most pronounced in 2014 when exports increased by 923%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved salmon exports expanded remarkably to $X in 2021. In general, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by 507%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for preserved salmon exports from Finland, with a 89% share of total exports. Moreover, preserved salmon exports to Estonia exceeded the volume sent to the second major destination, France (X kg), more than tenfold. The third position in this ranking was held by Belgium (X kg), with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume to Estonia stood at +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+26.8% per year) and Belgium (+17.0% per year).

In value terms, Estonia ($X) remains the key foreign market for salmon (prepared or preserved) exports from Finland, comprising 72% of total exports. The second position in the ranking was held by France ($X), with a 9.7% share of total exports. It was followed by Belgium, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Estonia totaled +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+24.9% per year) and Belgium (+15.9% per year).

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, declining by -48.3% against the previous year. Over the period under review, the export price showed a abrupt decrease. The growth pace was the most rapid in 2017 when the average export price increased by 34%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Estonia ($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 Spain (-0.6%), while the prices for the other major destinations experienced a decline.

Preserved Salmon Imports

Imports into Finland

In 2021, overseas purchases of salmon (prepared or preserved) were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, preserved salmon imports expanded notably to $X in 2021. In general, imports, however, continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 46% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Sweden (X tons) and Estonia (X tons) were the main suppliers of preserved salmon imports to Finland, together accounting for 89% of total imports. Poland, Denmark and the United States lagged somewhat behind, together accounting for a further 9.9%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and Estonia ($X) were the largest preserved salmon suppliers to Finland, together accounting for 91% of total imports.

Sweden, with a CAGR of +13.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved salmon import price amounted to $X per ton, shrinking by -1.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 11%. As a result, import price attained the peak level of $X per ton. From 2014 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, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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