Norway: Sugars Market 2024

Sugars Market Size in Norway

After four years of growth, the Norwegian sugars market decreased by -1.9% to $X in 2021. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +108.4% against 2016 indices. Sugars consumption peaked at $X in 2020, and then dropped slightly in the following year.

Sugars Exports

Exports from Norway

Sugars exports from Norway soared to X tons in 2021, rising by 301% compared with 2020. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugars exports declined markedly to $X in 2021. Over the period under review, exports showed a modest expansion. The pace of growth appeared the most rapid in 2013 with an increase of 197% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X tons), Slovenia (X tons) and the United States (X kg) were the main destinations of sugars exports from Norway, together accounting for 34% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +30.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Germany ($X) constituted the largest markets for sugars exported from Norway worldwide, together accounting for 75% of total exports.

The United States, with a CAGR of +23.9%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average sugars export price amounted to $X per ton, reducing by -83.6% against the previous year. Overall, the export price faced a deep slump. The pace of growth appeared the most rapid in 2015 when the average export price increased by 390%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, 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 Germany ($X per ton), while the average price for exports to Sweden ($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 (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into Norway

In 2021, supplies from abroad of sugars, sugar ethers and salts increased by 10% to X tons, rising for the fifth consecutive year after three years of decline. Over the period under review, imports recorded a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sugars imports reduced modestly to $X in 2021. Overall, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.0% against 2016 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 24% against the previous year. Imports peaked at $X in 2020, and then reduced modestly in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest sugars supplier to Norway, accounting for a 76% share of total imports. Moreover, sugars imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Belgium (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+45.2% per year) and Belgium (+22.1% per year).

In value terms, Germany ($X) constituted the largest supplier of sugars, sugar ethers and salts to Norway, comprising 51% of total imports. The second position in the ranking was taken by France ($X), with a 24% share of total imports. It was followed by China, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+51.2% per year) and China (+9.7% per year).

Import Prices by Country

In 2021, the average sugars import price amounted to $X per ton, shrinking by -11.7% against the previous year. In general, the import price recorded a pronounced setback. The pace of growth appeared the most rapid in 2019 an increase of 12%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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