Scandinavia: Maize Starch Market 2024

Maize Starch Market Size in Scandinavia

In 2021, the Scandinavia maize starch market decreased by -4.4% to $X for the first time since 2015, thus ending a five-year rising trend. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.9% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced slightly in the following year.

Maize Starch Production in Scandinavia

In value terms, maize starch production dropped to $X in 2021 estimated in export price. Overall, production, however, saw a strong expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by 85%. The level of production peaked at $X in 2020, and then contracted in the following year.

Maize Starch Exports

Exports in Scandinavia

For the ninth consecutive year, Scandinavia recorded decline in shipments abroad of maize (corn) starch, which decreased by -3.5% to X tons in 2021. In general, exports showed a sharp contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, maize starch exports rose rapidly to $X in 2021. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2016 when exports increased by 33% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden dominates exports structure, resulting at X tons, which was near 97% of total exports in 2021. Norway (X tons) took a little share of total exports.

Exports from Sweden decreased at an average annual rate of -1.8% from 2012 to 2021. At the same time, Norway (+6.8%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +6.8% from 2012-2021. Sweden (+82 p.p.) and Norway (+2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest maize starch supplier in Scandinavia, comprising 97% of total exports. The second position in the ranking was taken by Norway ($X), with a 1.5% share of total exports.

In Sweden, maize starch exports contracted by an average annual rate of -6.4% over the period from 2012-2021.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 16% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, maize starch export price increased by +54.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 46% against the previous year. The level of export peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-4.7%).

Maize Starch Imports

Imports in Scandinavia

In 2021, imports of maize (corn) starch in Scandinavia rose rapidly to X tons, surging by 5.2% on the previous year. Overall, imports, however, continue to indicate a slight decrease. The growth pace was the most rapid in 2013 when imports increased by 16% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, maize starch imports expanded remarkably to $X in 2021. In general, imports, however, recorded a noticeable slump. The growth pace was the most rapid in 2013 when imports increased by 15%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Denmark (X tons) and Sweden (X tons) dominates imports structure, together comprising 82% of total imports. Finland (X tons) held the next position in the ranking, followed by Norway (X tons). All these countries together took near 18% 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 Denmark (with a CAGR of +0.6%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Denmark ($X), Sweden ($X) and Finland ($X) were the countries with the highest levels of imports in 2021, with a combined 90% share of total imports.

Denmark, with a CAGR of -1.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, surging by 7.5% against the previous year. Over the period under review, the import price, however, showed a slight setback. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Finland ($X per ton) and Norway ($X per ton), while Denmark ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform