Scandinavia: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Scandinavia

In 2022, the Scandinavia butter and dairy spreads market increased by 46% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a noticeable shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Butter And Dairy Spreads in Scandinavia

In value terms, butter and dairy spreads production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a mild setback. The growth pace was the most rapid in 2017 when the production volume increased by 26%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The country with the largest volume of butter and dairy spreads production was Finland (X tons), comprising approx. 97% of total volume. It was followed by Norway (X tons), with a 3.2% share of total production.

In Finland, butter and dairy spreads production remained relatively stable over the period from 2012-2022.

Exports of Butter And Dairy Spreads

Exports in Scandinavia

In 2022, the amount of butter and dairy spreads exported in Scandinavia dropped significantly to X tons, declining by -23.6% against 2021. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -26.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 41% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and dairy spreads exports soared to $X in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 30% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Finland prevails in exports structure, accounting for X tons, which was near 89% of total exports in 2022. It was distantly followed by Sweden (X tons), comprising a 7.6% share of total exports. Norway (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to butter and dairy spreads exports from Finland stood at +1.6%. At the same time, Norway (+101.9%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +101.9% from 2012-2022. Sweden experienced a relatively flat trend pattern. While the share of Norway (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Finland (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) remains the largest butter and dairy spreads supplier in Scandinavia, comprising 90% of total exports. The second position in the ranking was held by Sweden ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Finland amounted to +4.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+3.9% per year) and Norway (+99.4% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, with an increase of 58% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +65.0% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, 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 Sweden (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Butter And Dairy Spreads

Imports in Scandinavia

In 2022, butter and dairy spreads imports in Scandinavia dropped notably to X tons, waning by -17.9% compared with 2021 figures. Overall, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 17%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, butter and dairy spreads imports shrank slightly to $X in 2022. Over the period under review, imports saw a pronounced setback. The growth pace was the most rapid in 2017 when imports increased by 29%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Sweden prevails in imports structure, recording X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Finland (X tons), achieving a 6.3% share of total imports. Norway (X tons) held a minor share of total imports.

Sweden was also the fastest-growing in terms of the butter and dairy spreads imports, with a CAGR of -2.1% from 2012 to 2022. Finland (-16.2%) and Norway (-20.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +24 percentage points.

In value terms, Sweden ($X) constitutes the largest market for imported butter and dairy spreads in Scandinavia, comprising 92% of total imports. The second position in the ranking was held by Finland ($X), with a 6.1% share of total imports.

In Sweden, butter and dairy spreads imports plunged by an average annual rate of -1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (-15.2% per year) and Norway (-18.0% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, growing by 19% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 29% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Finland ($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 (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform