Scandinavia: Sugars Market 2024

Sugars Market Size in Scandinavia

The Scandinavia sugars market rose sharply to $X in 2021, with an increase of 6.3% against the previous year. Over the period under review, consumption faced a abrupt descent. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Sugars Production in Scandinavia

In value terms, sugars production reached $X in 2021 estimated in export price. Overall, production recorded a significant increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 105%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Sugars Exports

Exports in Scandinavia

In 2021, the amount of sugars, sugar ethers and salts exported in Scandinavia soared to X tons, surging by 29% against the previous year. Total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.4% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sugars exports soared to $X in 2021. Overall, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 128% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Denmark (X tons), together resulting at 97% of total export.

Denmark was also the fastest-growing in terms of the sugars, sugar ethers and salts exports, with a CAGR of +3.4% from 2012 to 2021. Denmark (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) also remains the largest sugars supplier in Scandinavia.

In Denmark, sugars exports increased at an average annual rate of +10.0% over the period from 2012-2021.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, almost unchanged from the previous year. In general, the export price, however, saw buoyant growth. The pace of growth was the most pronounced in 2019 when the export price increased by 89%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Denmark.

From 2012 to 2021, the rate of growth in terms of prices for Denmark amounted to +6.3% per year.

Sugars Imports

Imports in Scandinavia

In 2021, after three years of growth, there was decline in supplies from abroad of sugars, sugar ethers and salts, when their volume decreased by -3.4% to X tons. In general, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by 46% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, sugars imports dropped modestly to $X in 2021. Overall, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 117% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Denmark (X tons) and Norway (X tons) were the key importers of sugars, sugar ethers and salts in Scandinavia, together reaching approx. 80% of total imports. It was distantly followed by Sweden (X tons), comprising a 19% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +7.5%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Denmark ($X) constitutes the largest market for imported sugars, sugar ethers and salts in Scandinavia, comprising 67% of total imports. The second position in the ranking was taken by Norway ($X), with a 17% share of total imports.

In Denmark, sugars imports expanded at an average annual rate of +7.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (+2.4% per year) and Sweden (-8.1% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, remaining relatively unchanged against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars import price decreased by -18.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 49% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Denmark ($X per ton), while Norway ($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 (+9.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform