Scandinavia: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Scandinavia

The Scandinavia dried or salted fish market surged to $X in 2021, picking up by 15% against the previous year. In general, consumption recorded a strong expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Production of Dried Or Salted Fish in Scandinavia

In value terms, dried or salted fish production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 29%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Dried Or Salted Fish

Exports in Scandinavia

In 2021, shipments abroad of dried or salted fish increased by less than 0.1% to X tons, rising for the second consecutive year after six years of decline. Overall, exports, however, saw a deep setback. 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 attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, dried or salted fish exports stood at $X in 2021. In general, exports, however, continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Norway (X tons) represented the key exporter of dried or salted fish, mixing up 49% of total exports. Sweden (X tons) held the second position in the ranking, distantly followed by Iceland (X tons) and Denmark (X tons). All these countries together took near 50% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Denmark (with a CAGR of +1.5%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest dried or salted fish supplying countries in Scandinavia were Norway ($X), Sweden ($X) and Iceland ($X), together comprising 94% of total exports. These countries were followed by Denmark, which accounted for a further 6.2%.

Denmark, with a CAGR of +6.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 an increase of 18%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Sweden ($X per ton) and Norway ($X per ton), while Iceland ($X per ton) and Denmark ($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 (+4.6%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports in Scandinavia

In 2021, the amount of dried or salted fish imported in Scandinavia declined to X tons, shrinking by -3.6% on the year before. Over the period under review, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of 17%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, dried or salted fish imports dropped to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 18%. The level of import peaked at $X in 2020, and then fell modestly in the following year.

Imports by Country

In 2021, Sweden (X tons) was the key importer of dried or salted fish, committing 83% of total imports. It was distantly followed by Denmark (X tons), constituting a 17% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to dried or salted fish imports into Sweden stood at -3.1%. At the same time, Denmark (+4.7%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +4.7% from 2012-2021. Denmark (+8.1 p.p.) significantly strengthened its position in terms of the total imports, while Sweden saw its share reduced by -3.6% from 2012 to 2021, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported dried or salted fish in Scandinavia, comprising 82% of total imports. The second position in the ranking was held by Denmark ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to -1.1%.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, approximately reflecting the previous year. Import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or salted fish import price decreased by -1.9% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by 14%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Denmark ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+3.0%).

Source: IndexBox Platform