Scandinavia: Sugar Beet Market 2024

Sugar Beet Market Size in Scandinavia

In 2022, the Scandinavia sugar beet market increased by 1.4% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sugar Beet Production in Scandinavia

In value terms, sugar beet production reached $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2016 when the production volume increased by 1,537% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of sugar beet production was Sweden (X tons), comprising approx. 83% of total volume. Moreover, sugar beet production in Sweden exceeded the figures recorded by the second-largest producer, Finland (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume in Sweden was relatively modest.

In 2022, the average sugar beet yield in Scandinavia fell modestly to X tons per ha, approximately mirroring the previous year's figure. The yield figure increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the yield increased by 37%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the sugar beet yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of sugar beet in Scandinavia amounted to X ha, stabilizing at 2021 figures. Over the period under review, the harvested area, however, recorded a noticeable reduction. The pace of growth was the most pronounced in 2016 when the harvested area increased by 33% against the previous year. Over the period under review, the harvested area dedicated to sugar beet production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Sugar Beet Exports

Exports in Scandinavia

In 2022, approx. X tons of sugar beet were exported in Scandinavia; increasing by 204% compared with 2021 figures. Over the period under review, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of 340%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, sugar beet exports surged to $X in 2022. In general, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 264%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden dominates exports structure, reaching X tons, which was approx. 98% of total exports in 2022. Norway (X kg) held a little share of total exports.

Sweden was also the fastest-growing in terms of the sugar beet exports, with a CAGR of -12.8% from 2012 to 2022. Norway (-21.2%) illustrated a downward trend over the same period. While the share of Sweden (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Norway (-2.6 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest sugar beet supplier in Scandinavia, comprising 73% of total exports. The second position in the ranking was held by Norway ($X), with a 3.5% share of total exports.

In Sweden, sugar beet exports contracted by an average annual rate of -3.9% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, increasing by 12% against the previous year. In general, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of 122%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+10.2%).

Sugar Beet Imports

Imports in Scandinavia

In 2022, the amount of sugar beet imported in Scandinavia soared to X tons, with an increase of 118,939% compared with the year before. Over the period under review, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugar beet imports soared to $X in 2022. In general, imports enjoyed a significant increase. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the one major importers of sugar beet, namely Sweden, represented more than two-thirds of total import.

Sweden was also the fastest-growing in terms of the sugar beet imports, with a CAGR of +199.1% from 2012 to 2022. Sweden (+99 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported sugar beet in Scandinavia.

In Sweden, sugar beet imports expanded at an average annual rate of +83.1% over the period from 2012-2022.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, shrinking by -92.6% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of 361% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell notably in the following year.

As there is only one major supplying country, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -38.8% per year.

Source: IndexBox Platform