Finland: Preserved Sardines Market 2024

Preserved Sardines Market Size in Finland

In 2022, the Finnish preserved sardines market decreased by -1.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a pronounced contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Preserved Sardines Production in Finland

In value terms, preserved sardines production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 49%. Preserved sardines production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from Finland

In 2022, shipments abroad of sardines (prepared or preserved) decreased by -59% to X tons, falling for the fifth year in a row after six years of growth. Over the period under review, exports, however, posted a notable expansion. The pace of growth was the most pronounced in 2015 when exports increased by 7,260% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, preserved sardines exports reduced to $X in 2022. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2015 when exports increased by 5,705%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X tons), Russia (X kg) and Spain (X kg) were the main destinations of preserved sardines exports from Finland, together accounting for 95% of total exports. Brazil lagged somewhat behind, accounting for a further 1.6%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +250.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) remains the key foreign market for sardines (prepared or preserved) exports from Finland, comprising 38% of total exports. The second position in the ranking was taken by Russia ($X), with an 18% share of total exports. It was followed by Spain, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+45.5% per year) and Spain (+5.8% per year).

Export Prices by Country

The average preserved sardines export price stood at $X per ton in 2022, with an increase of 117% against the previous year. In general, the export price showed a buoyant expansion. 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 Spain ($X per ton), while the average price for exports to Russia ($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 Ukraine (+72.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Finland

For the fourth consecutive year, Finland recorded decline in supplies from abroad of sardines (prepared or preserved), which decreased by -5.3% to X tons in 2022. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 24% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, preserved sardines imports contracted to $X in 2022. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Lithuania (X tons), Sweden (X tons) and Portugal (X tons) were the main suppliers of preserved sardines imports to Finland, together accounting for 67% of total imports. Latvia, Morocco, Spain, the Netherlands and Thailand lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +16.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sardines suppliers to Finland were Sweden ($X), Portugal ($X) and Latvia ($X), together accounting for 70% of total imports. Lithuania, Morocco, Spain, the Netherlands and Thailand lagged somewhat behind, together accounting for a further 27%.

Lithuania, with a CAGR of +18.7%, 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

The average preserved sardines import price stood at $X per ton in 2022, with a decrease of -9.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2013 an increase of 13%. The import price peaked at $X per ton in 2021, and then reduced in the following year.

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 Sweden ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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