Scandinavia: Frozen Potato Market 2024

Frozen Potato Market Size in Scandinavia

After five years of growth, the Scandinavia frozen potato market decreased by -34.2% to $X in 2021. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +26.9% against 2015 indices. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Frozen Potato Production in Scandinavia

In value terms, frozen potato production shrank rapidly to $X in 2021 estimated in export price. In general, production showed a mild downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then reduced rapidly in the following year.

Frozen Potato Exports

Exports in Scandinavia

In 2021, exports of frozen potatoes in Scandinavia dropped slightly to X tons, standing approx. at the previous year's figure. Overall, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2017 with an increase of 48%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen potato exports dropped slightly to $X in 2021. Over the period under review, exports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark was the key exporter of frozen potatoes in Scandinavia, with the volume of exports recording X tons, which was near 85% of total exports in 2021. It was distantly followed by Sweden (X tons), creating a 12% share of total exports. Finland (X tons) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the frozen potatoes exports, with a CAGR of -3.9% from 2012 to 2021. Sweden (-4.2%) and Finland (-7.5%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest frozen potato supplier in Scandinavia, comprising 77% of total exports. The second position in the ranking was held by Sweden ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Denmark was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (-5.3% per year) and Finland (-8.7% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, dropping by -1.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2013 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, 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 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 (+3.3%), while the other leaders experienced a decline in the export price figures.

Frozen Potato Imports

Imports in Scandinavia

Frozen potato imports rose significantly to X tons in 2021, increasing by 10% on the previous year. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons) and Denmark (X tons) represented the key importers of frozen potatoes in 2021, recording near 45% and 35% of total imports, respectively. It was distantly followed by Finland (X tons), making up a 17% share of total imports. Iceland (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +6.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Finland ($X), with a combined 97% share of total imports. Iceland lagged somewhat behind, accounting for a further 2.6%.

Iceland, with a CAGR of +5.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, surging by 5.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 an increase of 11% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Denmark ($X per ton) and Finland ($X per ton), while Iceland ($X per ton) and Sweden ($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 (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform