Scandinavia: Soups Market 2024

Soups Market Size in Scandinavia

In 2021, the Scandinavia soups market decreased by -3.3% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 7.2%. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Soups Production in Scandinavia

In value terms, soups production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 8.4% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Soups Exports

Exports in Scandinavia

In 2021, shipments abroad of soups and broths increased by 5.4% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 12%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, soups exports reached $X in 2021. In general, exports, however, continue to indicate a perceptible decline. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark was the major exporter of soups and broths in Scandinavia, with the volume of exports accounting for X tons, which was near 57% of total exports in 2021. It was distantly followed by Sweden (X tons) and Norway (X tons), together achieving a 42% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Denmark (with a CAGR of +1.9%), while the other leaders experienced a decline in the exports figures.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) were the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

In terms of the main exporting countries, Denmark, with a CAGR of +1.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, picking up by 6.9% against the previous year. Over the period under review, the export price, however, showed a mild slump. The most prominent rate of growth was recorded in 2017 an increase of 8.4%. The level of export peaked at $X per ton in 2014; however, from 2015 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 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 Denmark (-0.8%), while the other leaders experienced a decline in the export price figures.

Soups Imports

Imports in Scandinavia

In 2021, soups imports in Scandinavia contracted modestly to X tons, with a decrease of -2.5% on 2020 figures. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 16%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, soups imports reduced modestly to $X in 2021. In general, imports saw a slight downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 5.2%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Sweden (X tons) was the largest importer of soups and broths, mixing up 65% of total imports. Denmark (X tons) held the second position in the ranking, followed by Finland (X tons) and Norway (X tons). All these countries together took approx. 33% share of total imports. Iceland (X tons) followed a long way behind the leaders.

Sweden experienced a relatively flat trend pattern with regard to volume of imports of soups and broths. At the same time, Iceland (+5.9%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +5.9% from 2012-2021. By contrast, Norway (-1.7%), Denmark (-2.8%) and Finland (-3.1%) illustrated a downward trend over the same period. Sweden (+6.5 p.p.) significantly strengthened its position in terms of the total imports, while Finland and Denmark saw its share reduced by -3.3% and -3.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported soups and broths in Scandinavia, comprising 59% of total imports. The second position in the ranking was taken by Denmark ($X), with a 15% share of total imports. It was followed by Finland, with a 14% share.

In Sweden, soups imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Denmark (-1.8% per year) and Finland (-4.9% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, increasing by 1.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 5.2% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iceland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform