Scandinavia: Organ Extracts Market 2024

Organ Extracts Market Size in Scandinavia

In 2021, the Scandinavia organ extracts market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Organ Extracts Production in Scandinavia

In value terms, organ extracts production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Organ Extracts Exports

Exports in Scandinavia

Organ extracts exports reduced to X tons in 2021, shrinking by -13% against the year before. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 38%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, organ extracts exports soared to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +28.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 58% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from Denmark (X tons), together finishing at 99% of total export.

Denmark was also the fastest-growing in terms of the extracts of glands or other organs or of their secretions exports, with a CAGR of +3.8% from 2012 to 2021. While the share of Denmark (+12 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) also remains the largest organ extracts supplier in Scandinavia.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark stood at +8.6%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 44% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 50% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Denmark.

From 2012 to 2021, the rate of growth in terms of prices for Denmark amounted to +4.7% per year.

Organ Extracts Imports

Imports in Scandinavia

Organ extracts imports surged to X tons in 2021, with an increase of 83% compared with the previous year. Total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, organ extracts imports surged to $X in 2021. Overall, imports recorded a mild expansion. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Denmark (X tons) represented the key importer of extracts of glands or other organs or of their secretions, making up 65% of total imports. Norway (X tons) ranks second in terms of the total imports with a 13% share, followed by Sweden (12%) and Iceland (9%).

Denmark experienced a relatively flat trend pattern with regard to volume of imports of extracts of glands or other organs or of their secretions. At the same time, Iceland (+73.2%), Norway (+16.3%) and Sweden (+8.4%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +73.2% from 2012-2021. While the share of Iceland (+9 p.p.), Norway (+8.3 p.p.) and Sweden (+4.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Denmark (-20 p.p.) displayed negative dynamics.

In value terms, the largest organ extracts importing markets in Scandinavia were Denmark ($X), Sweden ($X) and Norway ($X), together comprising 90% of total imports. Iceland lagged somewhat behind, comprising a further 8.8%.

Among the main importing countries, Iceland, with a CAGR of +72.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, which is down by -21.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 an increase of 102% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while Denmark ($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 (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform