Scandinavia: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Scandinavia

The Scandinavia market for caviar (salmon) and caviar substitutes was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Caviar (Salmon) And Caviar Substitutes in Scandinavia

In value terms, caviar (salmon) and caviar substitutes production expanded remarkably to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.4% against 2015 indices. The most prominent rate of growth was recorded in 2019 with an increase of 30% against the previous year. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the near future.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in Scandinavia

After two years of decline, overseas shipments of caviar (salmon) and caviar substitutes increased by 0.2% to X tons in 2021. The total export volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes exports expanded notably to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +38.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 71% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Denmark (X tons) and Sweden (X tons) prevails in exports structure, together creating 93% of total exports. It was distantly followed by Norway (X tons), creating a 5.6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +4.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) were the countries with the highest levels of exports in 2021, with a combined 97% share of total exports.

Denmark, with a CAGR of +7.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, increasing by 9.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2017 when the export price increased by 16% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while Sweden ($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 (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in Scandinavia

Caviar (salmon) and caviar substitutes imports fell modestly to X tons in 2021, dropping by -2.3% against 2020. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 4.8% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes imports rose remarkably to $X in 2021. Over the period under review, imports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of 15% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Norway was the main importing country with an import of about X tons, which reached 45% of total imports. Finland (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Denmark (16%) and Sweden (16%).

Norway was also the fastest-growing in terms of the caviar (salmon) and caviar substitutes imports, with a CAGR of +20.6% from 2012 to 2021. Finland (-3.8%), Denmark (-18.5%) and Sweden (-19.3%) illustrated a downward trend over the same period. Norway (+42 p.p.) and Finland (+9.5 p.p.) significantly strengthened its position in terms of the total imports, while Denmark and Sweden saw its share reduced by -24.5% and -26.9% from 2012 to 2021, respectively.

In value terms, Norway ($X), Denmark ($X) and Sweden ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 86% share of total imports.

Norway, with a CAGR of +9.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 17% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 17%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Denmark ($X per ton), while Finland ($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 (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform