Scandinavia: Animal Feed Market 2024

Animal Feed Market Size in Scandinavia

In 2022, the Scandinavia animal feed market increased by 20% to $X, rising for the third year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Animal Feed Production in Scandinavia

In value terms, animal feed production soared to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Animal Feed Exports

Exports in Scandinavia

In 2022, animal feed exports in Scandinavia declined to X tons, waning by -4.5% compared with the previous year's figure. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.8% against 2014 indices. The pace of growth was the most pronounced in 2017 when exports increased by 22%. The volume of export peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, animal feed exports rose significantly to $X in 2022. Over the period under review, exports, however, showed buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 35%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Norway (X tons) represented the largest exporter of animal and pet feed, making up 66% of total exports. Sweden (X tons) held the second position in the ranking, followed by Finland (X tons). All these countries together held approx. 34% share of total exports.

Norway was also the fastest-growing in terms of the animal and pet feed exports, with a CAGR of +9.6% from 2012 to 2022. At the same time, Finland (+3.5%) displayed positive paces of growth. By contrast, Sweden (-1.5%) illustrated a downward trend over the same period. Norway (+21 p.p.) significantly strengthened its position in terms of the total exports, while Finland and Sweden saw its share reduced by -2.9% and -18.6% from 2012 to 2022, respectively.

In value terms, Norway ($X) remains the largest animal feed supplier in Scandinavia, comprising 71% of total exports. The second position in the ranking was held by Finland ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Norway stood at +16.6%. In the other countries, the average annual rates were as follows: Finland (+6.2% per year) and Sweden (+1.8% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, growing by 17% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed export price increased by +35.8% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+6.3%), while the other leaders experienced more modest paces of growth.

Animal Feed Imports

Imports in Scandinavia

In 2022, the amount of animal and pet feed imported in Scandinavia rose significantly to X tons, increasing by 14% compared with the previous year's figure. Overall, imports saw a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 116%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, animal feed imports soared to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 126%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Norway dominates imports structure, resulting at X tons, which was approx. 84% of total imports in 2022. Sweden (X tons) ranks second in terms of the total imports with an 8.8% share, followed by Finland (7.3%).

Norway was also the fastest-growing in terms of the animal and pet feed imports, with a CAGR of +23.5% from 2012 to 2022. At the same time, Finland (+1.2%) displayed positive paces of growth. By contrast, Sweden (-1.8%) illustrated a downward trend over the same period. Norway (+47 p.p.) significantly strengthened its position in terms of the total imports, while Finland and Sweden saw its share reduced by -16.6% and -30% from 2012 to 2022, respectively.

In value terms, Norway ($X) constitutes the largest market for imported animal and pet feed in Scandinavia, comprising 82% of total imports. The second position in the ranking was taken by Sweden ($X), with a 9% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Norway amounted to +22.5%. In the other countries, the average annual rates were as follows: Sweden (+1.1% per year) and Finland (+5.5% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, with an increase of 3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 8.6%. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform