Scandinavia: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Scandinavia

In 2021, the Scandinavia fish meals and pellet market decreased by -13.8% to $X, falling for the second consecutive year after three years of growth. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.0% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish in Scandinavia

In value terms, fish meals and pellet production fell to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 +79.8% against 2015 indices. The growth pace was the most rapid in 2020 with an increase of 16% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Exports of Flours, Meals And Pellets Of Fish

Exports in Scandinavia

Fish meals and pellet exports contracted modestly to X tons in 2021, with a decrease of -4.2% compared with 2020 figures. Over the period under review, exports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2016 with an increase of 90%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, fish meals and pellet exports shrank significantly to $X in 2021. Overall, exports showed a perceptible reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 61%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Denmark (X tons) represented the main exporter of flours, meals and pellets of fish, constituting 53% of total exports. Norway (X tons) ranks second in terms of the total exports with a 27% share, followed by Sweden (14%) and Finland (5.5%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Finland (with a CAGR of +29.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Denmark ($X) remains the largest fish meals and pellet supplier in Scandinavia, comprising 54% of total exports. The second position in the ranking was taken by Finland ($X), with an 18% share of total exports. It was followed by Norway, with a 15% share.

In Denmark, fish meals and pellet exports plunged by an average annual rate of -8.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (+24.0% per year) and Norway (-4.3% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, dropping by -18.6% against the previous year. Overall, the export price saw a slight contraction. The growth pace was the most rapid in 2015 an increase of 32%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in Scandinavia

In 2021, supplies from abroad of flours, meals and pellets of fish decreased by -15.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 43% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, fish meals and pellet imports contracted notably to $X in 2021. Over the period under review, imports, however, continue to indicate a temperate increase. The growth pace was the most rapid in 2019 with an increase of 95% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then reduced rapidly in the following year.

Imports by Country

Sweden (X tons) and Denmark (X tons) dominates imports structure, together generating 95% of total imports. The following importers - Norway (X tons), Finland (X tons) and Iceland (X tons) - each reached a 5.1% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +11.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Sweden ($X) and Iceland ($X) constituted the countries with the highest levels of imports in 2021, with a combined 96% share of total imports.

In terms of the main importing countries, Iceland, with a CAGR of +9.0%, recorded the highest growth rate of 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 -9.1% against the previous year. In general, the import price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 66% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Iceland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+16.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform