Finland: Whey Market 2024

Whey Market Size in Finland

The Finnish whey market shrank markedly to $X in 2022, waning by -81.3% against the previous year. Overall, consumption showed a deep contraction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Whey Production in Finland

In value terms, whey production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decline. Whey production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Whey Exports

Exports from Finland

In 2022, the amount of whey exported from Finland expanded sharply to X tons, increasing by 13% against 2021 figures. In general, exports, however, recorded a noticeable slump. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, whey exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for whey exports from Finland, with a 61% share of total exports. Moreover, whey exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), ninefold. The third position in this ranking was held by South Korea (X tons), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+8.8% per year) and South Korea (+0.1% per year).

In value terms, China ($X) remains the key foreign market for whey exports from Finland, comprising 63% of total exports. The second position in the ranking was held by South Korea ($X), with a 6.7% share of total exports. It was followed by the Netherlands, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-7.9% per year) and the Netherlands (+5.6% per year).

Export Prices by Country

The average whey export price stood at $X per ton in 2022, growing by 1.9% against the previous year. In general, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 23%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Sweden ($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 Russia (+19.5%), while the prices for the other major destinations experienced mixed trend patterns.

Whey Imports

Imports into Finland

In 2022, whey imports into Finland shrank markedly to X tons, falling by -31.8% against the previous year. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by 111%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, whey imports declined remarkably to $X in 2022. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 60% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest whey supplier to Finland, accounting for a 48% share of total imports. Moreover, whey imports from Sweden exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), twofold. Denmark (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden stood at +61.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+6.5% per year) and Denmark (+0.9% per year).

In value terms, Sweden ($X) constituted the largest supplier of whey to Finland, comprising 59% of total imports. The second position in the ranking was taken by Switzerland ($X), with an 18% share of total imports. It was followed by Denmark, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to +63.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+7.5% per year) and Denmark (+8.6% per year).

Import Prices by Country

In 2022, the average whey import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 64% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

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 Hungary ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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