Scandinavia: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Scandinavia

The Scandinavia sauce and seasoning market rose notably to $X in 2021, increasing by 9.7% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sauce And Seasoning Production in Scandinavia

In value terms, sauce and seasoning production rose remarkably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 10% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Sauce And Seasoning Exports

Exports in Scandinavia

In 2021, exports of sauces and seasonings in Scandinavia totaled X tons, with an increase of 4.9% on the previous year's figure. The total export volume increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 14% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, Sweden (X tons) was the largest exporter of sauces and seasonings, constituting 64% of total exports. Denmark (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Finland (11%). Norway (X tons) held a little share of total exports.

Exports from Sweden increased at an average annual rate of +4.2% from 2012 to 2021. At the same time, Norway (+4.3%) and Finland (+4.2%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +4.3% from 2012-2021. By contrast, Denmark (-2.0%) illustrated a downward trend over the same period. While the share of Sweden (+9.1 p.p.) and Finland (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Denmark (-11 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest sauce and seasoning supplier in Scandinavia, comprising 62% of total exports. The second position in the ranking was taken by Denmark ($X), with a 22% share of total exports. It was followed by Finland, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden totaled +3.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (-0.2% per year) and Finland (+4.3% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 7.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 10% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+6.4%), while the other leaders experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports in Scandinavia

Sauce and seasoning imports expanded to X tons in 2021, surging by 4.8% on the previous year's figure. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 11%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, sauce and seasoning imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X tons), distantly followed by Denmark (X tons), Finland (X tons) and Norway (X tons) were the largest importers of sauces and seasonings, together making up 97% of total imports. Iceland (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iceland (with a CAGR of +6.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Norway ($X), with a combined 77% share of total imports. Finland and Iceland lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Iceland, with a CAGR of +4.3%, recorded the highest rates of growth with regard to the value of imports, 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 ton, surging by 5.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform