Scandinavia: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Scandinavia

The Scandinavia preserved anchovies market totaled $X in 2021, picking up by 3.5% against the previous year. In general, consumption showed strong growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Anchovies Production in Scandinavia

In value terms, preserved anchovies production rose slightly to $X in 2021 estimated in export price. In general, production saw resilient growth. The growth pace was the most rapid in 2016 when the production volume increased by 30% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Anchovies Exports

Exports in Scandinavia

In 2021, shipments abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, continue to indicate a noticeable reduction. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved anchovies exports soared to $X in 2021. Overall, exports, however, recorded a abrupt descent. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden dominates exports structure, amounting to X tons, which was near 94% of total exports in 2021. Denmark (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of -1.3% from 2012 to 2021. Denmark (-15.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden increased by +11 percentage points.

In value terms, Sweden ($X) emerged as the largest preserved anchovies supplier in Scandinavia, comprising 85% of total exports. The second position in the ranking was held by Denmark ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Sweden totaled -7.8%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, waning by -22.6% against the previous year. In general, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of 28%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+11.3%).

Preserved Anchovies Imports

Imports in Scandinavia

In 2021, purchases abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a pronounced contraction. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports skyrocketed to $X in 2021. Overall, imports, however, recorded a slight reduction. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Sweden was the largest importer of anchovies (prepared or preserved) in Scandinavia, with the volume of imports amounting to X tons, which was approx. 70% of total imports in 2021. It was distantly followed by Denmark (X tons), Norway (X tons) and Finland (X tons), together constituting a 28% share of total imports.

Sweden was also the fastest-growing in terms of the anchovies (prepared or preserved) imports, with a CAGR of +29.3% from 2012 to 2021. At the same time, Denmark (+8.7%) and Finland (+6.9%) displayed positive paces of growth. By contrast, Norway (-23.8%) illustrated a downward trend over the same period. While the share of Sweden (+65 p.p.), Denmark (+6.8 p.p.) and Finland (+4.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Norway (-76.8 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported anchovies (prepared or preserved) in Scandinavia, comprising 57% of total imports. The second position in the ranking was held by Denmark ($X), with a 15% share of total imports. It was followed by Finland, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden stood at +24.3%. In the other countries, the average annual rates were as follows: Denmark (+0.1% per year) and Finland (+14.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, reducing by -6.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 27%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+7.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform