Norway: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Norway

In 2022, the Norwegian preparations for animal feeding market increased by 7.3% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Preparations Used In Animal Feeding in Norway

In value terms, preparations for animal feeding production expanded notably to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 13%. Over the period under review, production hit record highs at $X in 2013; afterwards, it flattened through to 2022.

Exports of Preparations Used In Animal Feeding

Exports from Norway

In 2022, exports of preparations used in animal feeding from Norway rose rapidly to X tons, growing by 6% on the previous year. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, preparations for animal feeding exports skyrocketed to $X in 2022. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Russia (X tons), Iceland (X tons) and Germany (X tons) were the main destinations of preparations for animal feeding exports from Norway, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iceland (with a CAGR of +120.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preparations for animal feeding exported from Norway were Russia ($X), Iceland ($X) and Faroe Islands ($X), with a combined 80% share of total exports.

Iceland, with a CAGR of +118.4%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 preparations for animal feeding export price stood at $X per ton in 2022, growing by 12% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding export price increased by +35.5% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 23%. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Faroe Islands ($X per ton), while the average price for exports to Greece ($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 Germany (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Norway

For the sixth consecutive year, Norway recorded growth in supplies from abroad of preparations used in animal feeding, which increased by 19% to X tons in 2022. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 145%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, preparations for animal feeding imports amounted to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The growth pace was the most rapid in 2020 when imports increased by 132% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest preparations for animal feeding supplier to Norway, with a 36% share of total imports. Moreover, preparations for animal feeding imports from Brazil exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was held by Russia (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +98.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+28.2% per year) and Russia (+401.9% per year).

In value terms, the largest preparations for animal feeding suppliers to Norway were Brazil ($X), the UK ($X) and Russia ($X), together accounting for 62% of total imports.

In terms of the main suppliers, Russia, with a CAGR of +280.8%, recorded 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

In 2022, the average preparations for animal feeding import price amounted to $X per ton, falling by -3.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 France ($X per ton), while the price for Russia ($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 (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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