Finland: Canned Food Market 2024

Canned Food Market Size in Finland

The Finnish canned food market shrank modestly to $X in 2021, waning by -2.2% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then fell in the following year.

Canned Food Production in Finland

In value terms, canned food production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. Canned food production peaked at $X in 2020, and then contracted modestly in the following year.

Canned Food Exports

Exports from Finland

In 2021, shipments abroad of canned food increased by 20% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 66% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, canned food exports soared to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for canned food exports from Finland, with a 57% share of total exports. Moreover, canned food exports to Russia exceeded the volume sent to the second major destination, Estonia (X tons), threefold. Sweden (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2020, the average annual growth rate of volume to Russia amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+0.3% per year) and Sweden (-16.5% per year).

In value terms, Sweden ($X), Estonia ($X) and Russia ($X) appeared to be the largest markets for canned food exported from Finland worldwide, together accounting for 84% of total exports. These countries were followed by China, Norway, Denmark and Latvia, which together accounted for a further 12%.

Denmark, with a CAGR of +122.6%, saw the highest growth rate of 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

In 2020, the average canned food export price amounted to $X per ton, waning by -38.7% against the previous year. Over the period under review, the export price, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2019 an increase of 68% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Finland

In 2021, imports of canned food into Finland stood at X tons, remaining relatively unchanged against the year before. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 47%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, canned food imports rose significantly to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 11%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of canned food imports to Finland, together accounting for 45% of total imports.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +8.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Spain ($X) were the largest canned food suppliers to Finland, with a combined 43% share of total imports. Estonia, Italy, Thailand, Poland, Belgium, Denmark, the Netherlands, Indonesia, Kenya and the Philippines lagged somewhat behind, together accounting for a further 41%.

The Philippines, with a CAGR of +11.3%, saw 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 2020, the average canned food import price amounted to $X per ton, dropping by -35.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 43% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted markedly in the following year.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Thailand (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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