Scandinavia: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Scandinavia

In 2022, after two years of growth, there was decline in the Scandinavia market for gingerbread, sweet biscuits and waffles, when its value decreased by -2.5% to $X. The market value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped slightly in the following year.

Production of Gingerbread, Sweet Biscuits and Waffles in Scandinavia

In value terms, gingerbread, sweet biscuit and waffle production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 with an increase of 14%. Over the period under review, production hit record highs in 2022 and is likely to see gradual growth in years to come.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in Scandinavia

In 2022, shipments abroad of gingerbread, sweet biscuits and waffles decreased by less than 0.1% to X tons for the first time since 2013, thus ending a eight-year rising trend. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.0% against 2013 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, gingerbread, sweet biscuit and waffle exports shrank modestly to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 21%. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

Sweden dominates exports structure, accounting for X tons, which was near 96% of total exports in 2022. Finland (X tons) took a little share of total exports.

Sweden was also the fastest-growing in terms of the gingerbread, sweet biscuits and waffles exports, with a CAGR of +5.0% from 2012 to 2022. Finland experienced a relatively flat trend pattern. While the share of Finland (-1.9 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest gingerbread, sweet biscuit and waffle supplier in Scandinavia, comprising 94% of total exports. The second position in the ranking was held by Finland ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden stood at +3.8%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, falling by -4.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 15%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+2.8%).

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports in Scandinavia

In 2022, purchases abroad of gingerbread, sweet biscuits and waffles decreased by -0.4% to X tons, falling for the second year in a row after five years of growth. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 12%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle imports reached $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 11%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Sweden (X tons) represented the largest importer of gingerbread, sweet biscuits and waffles, achieving 54% of total imports. Norway (X tons) took a 26% share (based on physical terms) of total imports, which put it in second place, followed by Finland (20%).

Sweden was also the fastest-growing in terms of the gingerbread, sweet biscuits and waffles imports, with a CAGR of +5.9% from 2012 to 2022. At the same time, Norway (+1.1%) displayed positive paces of growth. By contrast, Finland (-1.1%) illustrated a downward trend over the same period. Sweden (+14 p.p.) significantly strengthened its position in terms of the total imports, while Norway and Finland saw its share reduced by -4.7% and -9.3% from 2012 to 2022, respectively.

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

In terms of the main importing countries, Sweden, with a CAGR of +4.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, surging by 2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 12%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform