Scandinavia: Market for Fresh Or Chilled Cuts Of Turkey 2024

Market Size for Fresh Or Chilled Cuts Of Turkey in Scandinavia

In 2022, after three years of decline, there was significant growth in the Scandinavia market for fresh or chilled cuts of turkey, when its value increased by 14% to $X. The market value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Fresh Or Chilled Cuts Of Turkey in Scandinavia

In value terms, fresh or chilled turkey cut production stood at $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 27%. Over the period under review, production reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Finland (X tons) constituted the country with the largest volume of fresh or chilled turkey cut production, accounting for 86% of total volume. Moreover, fresh or chilled turkey cut production in Finland exceeded the figures recorded by the second-largest producer, Norway (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume in Finland totaled +2.7%.

Exports of Fresh Or Chilled Cuts Of Turkey

Exports in Scandinavia

After two years of decline, overseas shipments of fresh or chilled cuts of turkey increased by 110% to X tons in 2022. Over the period under review, exports, however, faced a precipitous shrinkage. The growth pace was the most rapid in 2019 with an increase of 611%. 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, fresh or chilled turkey cut exports soared to $X in 2022. Overall, exports, however, showed a precipitous decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 608%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland represented the key exporting country with an export of about X tons, which recorded 62% of total exports. It was distantly followed by Norway (X kg) and Sweden (X kg), together constituting a 38% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fresh or chilled turkey cut exports from Finland stood at -33.2%. At the same time, Sweden (+27.7%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +27.7% from 2012-2022. Norway experienced a relatively flat trend pattern. Norway (+21 p.p.) and Sweden (+17 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -37.5% from 2012 to 2022, respectively.

In value terms, the largest fresh or chilled turkey cut supplying countries in Scandinavia were Norway ($X), Finland ($X) and Sweden ($X).

Among the main exporting countries, Sweden, with a CAGR of +35.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, waning by -24% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh or chilled turkey cut export price increased by +9.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 120%. The level of export peaked at $X per ton in 2021, and then fell rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($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 (+9.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Fresh Or Chilled Cuts Of Turkey

Imports in Scandinavia

In 2022, the amount of fresh or chilled cuts of turkey imported in Scandinavia soared to X tons, picking up by 21% compared with 2021. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 22%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, fresh or chilled turkey cut imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern 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.

Imports by Country

Sweden was the largest importer of fresh or chilled cuts of turkey in Scandinavia, with the volume of imports amounting to X tons, which was approx. 65% of total imports in 2022. It was distantly followed by Finland (X tons), achieving a 35% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Finland (with a CAGR of +4.3%).

In value terms, Sweden ($X) and Finland ($X) were the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Finland, with a CAGR of +4.5%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with a decrease of -1.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+0.4%).

Source: IndexBox Platform