Scandinavia: Soft Drink Market 2024

Soft Drink Market Size in Scandinavia

The Scandinavia soft drink market expanded sharply to $X in 2021, growing by 7% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Soft Drink Production in Scandinavia

In value terms, soft drink production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Soft Drink Exports

Exports in Scandinavia

Soft drink exports surged to X litres in 2021, increasing by 29% on the previous year's figure. Overall, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 when exports increased by 50% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, soft drink exports soared to $X in 2021. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 41% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Denmark (X litres) and Sweden (X litres) dominates exports structure, together comprising 89% of total exports. It was distantly followed by Finland (X litres), constituting an 8.2% share of total exports. Norway (X litres) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Finland (with a CAGR of +26.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest soft drink supplying countries in Scandinavia were Denmark ($X), Sweden ($X) and Finland ($X), together comprising 99% of total exports.

Finland, with a CAGR of +16.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Scandinavia stood at $X per litre in 2021, dropping by -3.9% against the previous year. Over the period under review, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 7% against the previous year. Over the period under review, the export prices hit record highs at $X per litre in 2012; however, from 2013 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, the country with the highest price was Denmark ($X per litre), while Norway ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-3.0%), while the other leaders experienced a decline in the export price figures.

Soft Drink Imports

Imports in Scandinavia

In 2021, the amount of soft drinks imported in Scandinavia surged to X litres, increasing by 25% on 2020 figures. In general, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 41% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, soft drink imports surged to $X in 2021. Overall, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the largest importer of soft drinks in Scandinavia, with the volume of imports finishing at X litres, which was approx. 42% of total imports in 2021. Denmark (X litres) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Norway (18%) and Finland (16%). Iceland (X litres) held a relatively small share of total imports.

Imports into Sweden increased at an average annual rate of +13.4% from 2012 to 2021. At the same time, Iceland (+23.4%), Denmark (+14.4%), Norway (+11.9%) and Finland (+8.2%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +23.4% from 2012-2021. Sweden (+3 p.p.), Denmark (+2.9 p.p.) and Iceland (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Finland saw its share reduced by -6.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 80% of total imports. These countries were followed by Denmark and Iceland, which together accounted for a further 20%.

Iceland, with a CAGR of +20.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 litre, which is down by -2.2% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the import price increased by 8.3% against the previous year. The level of import peaked at $X per litre in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform