Norway: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Norway

In 2021, the Norwegian sauce and seasoning market increased by 12% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Sauce And Seasoning Production in Norway

In value terms, sauce and seasoning production rose slightly to $X in 2021 estimated in export price. In general, production, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 18%. Sauce and seasoning production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Sauce And Seasoning Exports

Exports from Norway

In 2021, approx. X tons of sauces and seasonings were exported from Norway; increasing by 41% against the previous year. Over the period under review, exports continue to indicate a measured expansion. The growth pace was the most rapid in 2018 when exports increased by 45% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, sauce and seasoning exports skyrocketed to $X in 2021. Overall, exports recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 74%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

The UK (X tons) was the main destination for sauce and seasoning exports from Norway, with a 43% share of total exports. Moreover, sauce and seasoning exports to the UK exceeded the volume sent to the second major destination, Sweden (X tons), threefold. The third position in this ranking was held by Denmark (X tons), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at +60.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+3.6% per year) and Denmark (-17.5% per year).

In value terms, the UK ($X) remains the key foreign market for sauces and seasonings exports from Norway, comprising 45% of total exports. The second position in the ranking was taken by Sweden ($X), with a 9.5% share of total exports. It was followed by Iceland, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +59.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+7.1% per year) and Iceland (-3.4% per year).

Export Prices by Country

In 2021, the average sauce and seasoning export price amounted to $X per ton, rising by 17% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average export price increased by 43% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Norway

For the tenth year in a row, Norway recorded growth in purchases abroad of sauces and seasonings, which increased by 2.3% to X tons in 2021. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 8.3% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, sauce and seasoning imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Sweden (X tons) and Italy (X tons) were the main suppliers of sauce and seasoning imports to Norway, together accounting for 47% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +10.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Sweden ($X) and Italy ($X) constituted the largest sauce and seasoning suppliers to Norway, together accounting for 47% of total imports. Germany, the United States, Thailand, the UK, Spain, Belgium and Turkey lagged somewhat behind, together comprising a further 32%.

Thailand, with a CAGR of +8.5%, recorded 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

The average sauce and seasoning import price stood at $X per ton in 2021, with an increase of 11% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :