Norway: Animal Feed Market 2024

Animal Feed Market Size in Norway

In 2022, the Norwegian animal feed market increased by 9.2% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Animal Feed Production in Norway

In value terms, animal feed production soared to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. Over the period under review, production attained the maximum level at $X in 2013; afterwards, it flattened through to 2022.

Animal Feed Exports

Exports from Norway

In 2022, approx. X tons of animal and pet feed were exported from Norway; growing by 7.1% against the previous year. Over the period under review, exports posted strong growth. The growth pace was the most rapid in 2014 with an increase of 43%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, animal feed exports surged to $X in 2022. Overall, exports showed prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by 48%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Russia (X tons), Iceland (X tons) and Faroe Islands (X tons) were the main destinations of animal feed exports from Norway, together comprising 77% of total exports.

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 +141.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for animal feed exported from Norway were Russia ($X), Iceland ($X) and Faroe Islands ($X), with a combined 91% share of total exports.

In terms of the main countries of destination, Iceland, with a CAGR of +132.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, picking up by 13% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed export price increased by +38.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 22%. Over the period under review, the average export 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 for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Faroe Islands ($X per ton), while the average price for exports to Denmark ($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 Denmark (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Norway

In 2022, the amount of animal and pet feed imported into Norway skyrocketed to X tons, surging by 19% against the year before. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 189% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, animal feed imports skyrocketed to $X in 2022. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 203% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of animal feed to Norway, with a 40% share of total imports. Moreover, animal feed imports from Brazil exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. Russia (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +99.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+32.8% per year) and Russia (+401.9% per year).

In value terms, the largest animal feed suppliers to Norway were Brazil ($X), the UK ($X) and Russia ($X), with a combined 72% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +280.8%, 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 more modest paces of growth.

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 10% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :