Scandinavia: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Scandinavia

In 2021, after nine years of growth, there was significant decline in the Scandinavia food manufacture machinery market, when its value decreased by -99.6% to $X. In general, consumption faced a dramatic downturn. Over the period under review, the market reached the peak level at $X in 2020, and then fell significantly in the following year.

Food Manufacture Machinery Production in Scandinavia

In value terms, food manufacture machinery production fell rapidly to $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25%. The level of production peaked at $X in 2020, and then dropped markedly in the following year.

Food Manufacture Machinery Exports

Exports in Scandinavia

In 2021, shipments abroad of machinery for the preparation or manufacture of food or drink decreased by -15.3% to X units, falling for the third year in a row after two years of growth. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 26%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, food manufacture machinery exports totaled $X in 2021. The total export value increased at an average annual rate of +4.1% 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 2018 with an increase of 18%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Denmark (X units) was the main exporter of machinery for the preparation or manufacture of food or drink, making up 60% of total exports. Sweden (X units) took the second position in the ranking, distantly followed by Iceland (X units). All these countries together held near 36% share of total exports. Finland (X units) held a relatively small share of total exports.

Denmark experienced a relatively flat trend pattern with regard to volume of exports of machinery for the preparation or manufacture of food or drink. At the same time, Sweden (+5.4%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +5.4% from 2012-2021. Finland experienced a relatively flat trend pattern. By contrast, Iceland (-3.2%) illustrated a downward trend over the same period. Sweden (+8.7 p.p.) significantly strengthened its position in terms of the total exports, while Iceland and Denmark saw its share reduced by -3.7% and -4.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest food manufacture machinery supplier in Scandinavia, comprising 54% of total exports. The second position in the ranking was held by Sweden ($X), with a 13% share of total exports. It was followed by Iceland, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark totaled +2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+5.0% per year) and Iceland (-2.4% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, picking up by 21% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Denmark ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Food Manufacture Machinery Imports

Imports in Scandinavia

In 2021, purchases abroad of machinery for the preparation or manufacture of food or drink decreased by -16.2% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports showed a pronounced shrinkage. The growth pace was the most rapid in 2013 when imports increased by 31% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, food manufacture machinery imports declined sharply to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.2% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 38%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Denmark (X units) and Sweden (X units) represented roughly 70% of total imports in 2021. Finland (X units) took the next position in the ranking, distantly followed by Iceland (X units) and Norway (X units). All these countries together took approx. 30% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +8.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest food manufacture machinery importing markets in Scandinavia were Norway ($X), Denmark ($X) and Finland ($X), together accounting for 85% of total imports.

Denmark, with a CAGR of +7.6%, 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

In 2021, the import price in Scandinavia amounted to $X per unit, shrinking by -14.8% against the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, food manufacture machinery import price increased by +49.1% against 2013 indices. The most prominent rate of growth was recorded in 2018 an increase of 33%. Over the period under review, import prices hit record highs at $X per unit in 2020, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform