Scandinavia: Sesame Oil Market 2024

Sesame Oil Market Size in Scandinavia

After two years of growth, the Scandinavia sesame oil market decreased by -7.2% to $X in 2021. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Sesame Oil Production in Scandinavia

In value terms, sesame oil production dropped dramatically to $X in 2021 estimated in export price. In general, production saw a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 53%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Sesame Oil Exports

Exports in Scandinavia

Sesame oil exports skyrocketed to X tons in 2021, increasing by 60% against the previous year's figure. In general, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sesame oil exports skyrocketed to $X in 2021. Overall, exports saw a significant increase. The growth pace was the most rapid in 2015 with an increase of 71%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, Denmark (X tons) was the major exporter of sesame oil, making up 79% of total exports. It was distantly followed by Sweden (X tons), comprising an 18% share of total exports. Finland (X tons) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the sesame oil exports, with a CAGR of +61.9% from 2012 to 2021. At the same time, Finland (+33.9%) and Sweden (+14.8%) displayed positive paces of growth. Denmark (+64 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -60% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest sesame oil supplier in Scandinavia, comprising 61% of total exports. The second position in the ranking was held by Sweden ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Denmark totaled +46.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+9.9% per year) and Finland (+43.4% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, dropping by -19% against the previous year. Over the period under review, the export price saw a abrupt setback. The growth pace was the most rapid in 2015 an increase of 21%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+7.1%), while the other leaders experienced a decline in the export price figures.

Sesame Oil Imports

Imports in Scandinavia

For the eighth year in a row, Scandinavia recorded growth in purchases abroad of sesame oil, which increased by 7.3% to X tons in 2021. Over the period under review, imports showed a prominent increase. The pace of growth appeared the most rapid in 2019 when imports increased by 21%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, sesame oil imports amounted to $X in 2021. Overall, imports showed buoyant growth. The growth pace was the most rapid in 2020 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Sweden (X tons) was the key importer of sesame oil, achieving 46% of total imports. Denmark (X tons) ranks second in terms of the total imports with a 26% share, followed by Norway (13%) and Finland (11%). Iceland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Iceland (with a CAGR of +16.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame oil importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Norway ($X), with a combined 83% share of total imports.

Among the main importing countries, Sweden, with a CAGR of +13.0%, recorded the highest growth rate of 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, picking up by 3% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2013 an increase of 29%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably 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 Sweden ($X per ton) and Iceland ($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 (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform