Finland: Table Flatware Market 2024

Table Flatware Market Size in Finland

In 2022, the Finnish table flatware market was finally on the rise to reach $X after five years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Table Flatware Production in Finland

In value terms, table flatware production skyrocketed to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 285%. Table flatware production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Table Flatware Exports

Exports from Finland

After two years of growth, shipments abroad of table flatware decreased by -33.2% to X tons in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 98% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, table flatware exports declined sharply to $X in 2022. In general, exports recorded a mild curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 51%. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Denmark (X tons), Sweden (X tons) and Estonia (X tons) were the main destinations of table flatware exports from Finland, together accounting for 71% of total exports. Latvia, the Netherlands, Norway, Iceland, Germany and Russia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iceland (with a CAGR of +32.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for table flatware exported from Finland were Sweden ($X), Denmark ($X) and Estonia ($X), with a combined 63% share of total exports. Latvia, the Netherlands, Norway, Germany, Iceland and Russia lagged somewhat behind, together accounting for a further 18%.

Iceland, with a CAGR of +21.1%, recorded the highest rates of growth with regard to the value of exports, among 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 table flatware export price stood at $X per ton in 2022, with an increase of 2.5% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2019 when the average export price increased by 9.4%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Latvia ($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 Estonia (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Table Flatware Imports

Imports into Finland

In 2022, overseas purchases of table flatware increased by 28% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, table flatware imports soared to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest table flatware supplier to Finland, accounting for a 59% share of total imports. Moreover, table flatware imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+12.6% per year) and Italy (-5.3% per year).

In value terms, the largest table flatware suppliers to Finland were China ($X), Vietnam ($X) and Italy ($X), together accounting for 89% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +14.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average table flatware import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 7.7%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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