Norway: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Norway

The Norwegian margarine and shortening market expanded rapidly to $X in 2022, increasing by 7.1% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Margarine and shortening consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Margarine And Shortening Production in Norway

In value terms, margarine and shortening production rose to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports from Norway

Margarine and shortening exports from Norway declined to X tons in 2022, waning by -10.7% against the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 34% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports shrank to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 30%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Poland (X tons), the United States (X tons) and Spain (X tons) were the main destinations of margarine and shortening exports from Norway, together accounting for 39% 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 Poland (with a CAGR of +75.0%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the United States ($X) and Turkey ($X) were the largest markets for margarine and shortening exported from Norway worldwide, together comprising 58% of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +79.1%, recorded 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

In 2022, the average margarine and shortening export price amounted to $X per ton, with a decrease of -3.8% against the previous year. Over the period under review, the export price showed a mild descent. The most prominent rate of growth was recorded in 2013 when the average export price increased by 11%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Singapore ($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 (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Norway

In 2022, the amount of margarine and shortening imported into Norway soared to X tons, surging by 17% on the previous year's figure. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, margarine and shortening imports soared to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.9% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Sweden (X tons) constituted the largest margarine and shortening supplier to Norway, with a 46% share of total imports. Moreover, margarine and shortening imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Denmark (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.9% per year) and Denmark (+3.7% per year).

In value terms, Sweden ($X) constituted the largest supplier of margarine and shortening to Norway, comprising 43% of total imports. The second position in the ranking was held by Denmark ($X), with a 17% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+9.2% per year) and Germany (+21.7% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, picking up by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :