Scandinavia: Beef Market 2024

Beef Market Size in Scandinavia

In 2021, the Scandinavia beef market increased by 6.6% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a mild reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Beef Production in Scandinavia

In value terms, beef production expanded to $X in 2021 estimated in export price. Overall, production showed a pronounced setback. The most prominent rate of growth was recorded in 2017 with an increase of 8.3%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2021 were Sweden (X tons), Denmark (X tons) and Norway (X tons), with a combined 79% share of total production.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +1.3%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average beef yield in Scandinavia stood at X kg per head, stabilizing at the previous year. Overall, the yield continues to indicate a mild increase. The most prominent rate of growth was recorded in 2019 when the yield increased by 1.8% against the previous year. The level of yield peaked in 2021 and is expected to retain growth in years to come.

In 2021, the number of animals slaughtered for beef production in Scandinavia reduced to X heads, approximately equating the previous year's figure. In general, the number of producing animals saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the number of producing animals increased by 4.9% against the previous year. As a result, the amount of animals produced reached the peak level of X heads; afterwards, it flattened through to 2021.

Beef Exports

Exports in Scandinavia

In 2021, overseas shipments of beef (cattle meat) increased by 11% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, beef exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark represented the major exporter of beef (cattle meat) in Scandinavia, with the volume of exports recording X tons, which was near 77% of total exports in 2021. It was distantly followed by Sweden (X tons) and Finland (X tons), together committing a 22% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to beef exports from Denmark stood at -1.4%. At the same time, Sweden (+27.9%) and Finland (+26.8%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +27.9% from 2012-2021. Sweden (+15 p.p.) and Finland (+4.2 p.p.) significantly strengthened its position in terms of the total exports, while Denmark saw its share reduced by -19.6% from 2012 to 2021, respectively.

In value terms, Denmark ($X) remains the largest beef supplier in Scandinavia, comprising 90% of total exports. The second position in the ranking was taken by Finland ($X), with a 6.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark amounted to -1.5%. In the other countries, the average annual rates were as follows: Finland (+17.4% per year) and Sweden (+3.3% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, rising by 15% against the previous year. In general, the export price, however, continues to indicate a slight reduction. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Denmark (-0.1%), while the other leaders experienced a decline in the export price figures.

Beef Imports

Imports in Scandinavia

In 2021, after five years of decline, there was significant growth in supplies from abroad of beef (cattle meat), when their volume increased by 8.2% to X tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, beef imports surged to $X in 2021. In general, imports, however, showed a mild decrease. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Denmark (X tons) and Sweden (X tons) represented roughly 81% of total imports in 2021. It was distantly followed by Norway (X tons) and Finland (X tons), together comprising a 19% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +2.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest beef importing markets in Scandinavia were Denmark ($X), Sweden ($X) and Norway ($X), together comprising 92% of total imports.

Among the main importing countries, Norway, with a CAGR of -0.2%, 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, growing by 11% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Denmark ($X per ton) and Norway ($X per ton), while Finland ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform