Scandinavia: Preserved Salmon Market 2024

Preserved Salmon Market Size in Scandinavia

In 2021, the Scandinavia preserved salmon market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a significant expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in Scandinavia

In value terms, preserved salmon production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, recorded measured growth. The most prominent rate of growth was recorded in 2015 with an increase of 123% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Preserved Salmon Exports

Exports in Scandinavia

In 2021, shipments abroad of salmon (prepared or preserved) was finally on the rise to reach X tons after three years of decline. Over the period under review, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 67%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports surged to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 49%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Denmark (X tons) represented the key exporter of salmon (prepared or preserved), creating 75% of total exports. Sweden (X tons) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by Norway (6.4%).

Denmark was also the fastest-growing in terms of the salmon (prepared or preserved) exports, with a CAGR of +12.1% from 2012 to 2021. At the same time, Sweden (+4.0%) displayed positive paces of growth. Norway experienced a relatively flat trend pattern. While the share of Denmark (+17 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Norway (-7.5 p.p.) and Sweden (-9.6 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) remains the largest preserved salmon supplier in Scandinavia, comprising 66% of total exports. The second position in the ranking was held by Sweden ($X), with a 27% share of total exports.

In Denmark, preserved salmon exports increased at an average annual rate of +11.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+4.1% per year) and Norway (-0.5% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, picking up by 2.3% against the previous year. Overall, the export price, however, recorded a mild reduction. The pace of growth appeared the most rapid in 2019 an increase of 8.4%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Sweden (+0.1%), while the other leaders experienced a decline in the export price figures.

Preserved Salmon Imports

Imports in Scandinavia

In 2021, supplies from abroad of salmon (prepared or preserved) decreased by -39.8% to X tons, falling for the second consecutive year after six years of growth. Over the period under review, imports, however, posted a measured expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 44% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, preserved salmon imports shrank to $X in 2021. Overall, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 74% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Sweden represented the key importing country with an import of around X tons, which reached 62% of total imports. It was distantly followed by Denmark (X tons), making up a 34% share of total imports. Finland (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Denmark (with a CAGR of +16.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X) constitutes the largest market for imported salmon (prepared or preserved) in Scandinavia, comprising 65% of total imports. The second position in the ranking was held by Denmark ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to +14.3%. In the other countries, the average annual rates were as follows: Denmark (+16.8% per year) and Finland (-2.9% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, picking up by 51% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform