Scandinavia: Cream Fresh Market 2024

Cream Fresh Market Size in Scandinavia

The Scandinavia cream fresh market shrank modestly to $X in 2022, waning by -4.8% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Cream Fresh Production in Scandinavia

In value terms, cream fresh production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 22% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Sweden (X tons), Finland (X tons) and Norway (X tons).

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +4.4%), while production for the other leaders experienced a decline in the production figures.

Cream Fresh Exports

Exports in Scandinavia

In 2022, overseas shipments of cream fresh increased by 48% to X tons, rising for the third year in a row after six years of decline. Total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 +79.9% against 2019 indices. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, cream fresh exports skyrocketed to $X in 2022. Total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +63.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Finland (X tons) and Sweden (X tons) prevails in exports structure, together generating 95% of total exports. It was distantly followed by Norway (X tons), generating a 4.6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Sweden (with a CAGR of +16.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Finland ($X) remains the largest cream fresh supplier in Scandinavia, comprising 65% of total exports. The second position in the ranking was taken by Sweden ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Finland amounted to -1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+13.1% per year) and Norway (+3.8% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, which is down by -7.1% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 19% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 2022, the most notable rate of growth in terms of prices was attained by Norway (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Cream Fresh Imports

Imports in Scandinavia

For the fourth consecutive year, Scandinavia recorded decline in purchases abroad of cream fresh, which decreased by -6.9% to X tons in 2022. Overall, imports saw a deep contraction. The pace of growth was the most pronounced in 2015 with an increase of 12% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, cream fresh imports expanded markedly to $X in 2022. Over the period under review, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2013 with an increase of 17%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the one major importers of cream fresh, namely Sweden, represented more than two-thirds of total import.

Sweden was also the fastest-growing in terms of the cream fresh imports, with a CAGR of -5.8% from 2012 to 2022. Sweden (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported cream fresh in Scandinavia.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to -3.6%.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2017 an increase of 36% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to +2.4% per year.

Source: IndexBox Platform