Scandinavia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Scandinavia

The Scandinavia cheese and curd market totaled $X in 2022, flattening at the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Cheese And Curd Production in Scandinavia

In value terms, cheese and curd production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild decrease. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports in Scandinavia

After two years of decline, shipments abroad of cheese and curd increased by 3.8% to X tons in 2022. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 4.8% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cheese and curd exports reached $X in 2022. Overall, exports, however, showed a deep downturn. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden represented the main exporting country with an export of about X tons, which amounted to 64% of total exports. It was distantly followed by Finland (X tons) and Norway (X tons), together generating a 36% share of total exports.

Sweden was also the fastest-growing in terms of the cheese and curd exports, with a CAGR of +4.3% from 2012 to 2022. Norway (-7.6%) and Finland (-15.0%) illustrated a downward trend over the same period. Sweden (+41 p.p.) significantly strengthened its position in terms of the total exports, while Norway and Finland saw its share reduced by -3% and -37.9% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest cheese and curd supplier in Scandinavia, comprising 56% of total exports. The second position in the ranking was taken by Finland ($X), with a 27% share of total exports.

In Sweden, cheese and curd exports expanded at an average annual rate of +2.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (-13.3% per year) and Norway (-9.7% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, growing by 4.4% against the previous year. Overall, the export price, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 8.6%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.9%), while the other leaders experienced a decline in the export price figures.

Cheese And Curd Imports

Imports in Scandinavia

In 2022, overseas purchases of cheese and curd decreased by -4.1% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 18% against the previous year. The volume of import peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, cheese and curd imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 when imports increased by 21%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Sweden (X tons) was the key importer of cheese and curd, constituting 66% of total imports. Finland (X tons) ranks second in terms of the total imports with a 25% share, followed by Norway (8.7%).

Imports into Sweden increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Norway (+5.4%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +5.4% from 2012-2022. Finland experienced a relatively flat trend pattern. While the share of Sweden (+8.9 p.p.) and Norway (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-10.9 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported cheese and curd in Scandinavia, comprising 63% of total imports. The second position in the ranking was taken by Finland ($X), with a 26% share of total imports.

In Sweden, cheese and curd imports increased at an average annual rate of +4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (+0.5% per year) and Norway (+3.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of 10% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 14%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, 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 Finland (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform