Scandinavia: Tapioca And Substitutes Market 2024

Tapioca And Substitutes Market Size in Scandinavia

For the third consecutive year, the Scandinavia tapioca and substitutes market recorded growth in sales value, which increased by 11% to $X in 2021. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Tapioca And Substitutes Production in Scandinavia

In value terms, tapioca and substitutes production shrank to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.9% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Tapioca And Substitutes Exports

Exports in Scandinavia

Tapioca and substitutes exports soared to X tons in 2021, jumping by 1,939% against the previous year's figure. In general, exports, however, showed a slight shrinkage. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tapioca and substitutes exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Denmark was the major exporting country with an export of about X tons, which accounted for 77% of total exports. It was distantly followed by Sweden (X tons), committing a 22% share of total exports.

Denmark was also the fastest-growing in terms of the tapioca and substitutes exports, with a CAGR of +22.8% from 2012 to 2021. Sweden (-15.5%) illustrated a downward trend over the same period. While the share of Denmark (+67 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sweden (-66.7 p.p.) displayed negative dynamics.

In value terms, the largest tapioca and substitutes supplying countries in Scandinavia were Denmark ($X) and Sweden ($X).

Among the main exporting countries, Denmark, with a CAGR of +35.9%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, growing by 38% against the previous year. Overall, the export price showed significant growth. The most prominent rate of growth was recorded in 2013 when the export price increased by 168% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+36.3%).

Tapioca And Substitutes Imports

Imports in Scandinavia

In 2021, supplies from abroad of tapioca and substitutes increased by 172% to X tons, rising for the third year in a row after two years of decline. In general, imports, however, recorded a abrupt decrease. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, tapioca and substitutes imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate notable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the largest importing country with an import of around X tons, which finished at 57% of total imports. Norway (X tons) ranks second in terms of the total imports with a 20% share, followed by Denmark (14%) and Finland (7.2%). Iceland (X tons) followed a long way behind the leaders.

Imports into Sweden decreased at an average annual rate of -13.7% from 2012 to 2021. At the same time, Finland (+29.2%), Iceland (+16.6%), Norway (+7.2%) and Denmark (+2.2%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +29.2% from 2012-2021. From 2012 to 2021, the share of Norway, Denmark and Finland increased by +16, +9 and +6.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tapioca and substitutes importing markets in Scandinavia were Sweden ($X), Norway ($X) and Denmark ($X), together comprising 92% of total imports. These countries were followed by Finland and Iceland, which together accounted for a further 7.6%.

Among the main importing countries, Finland, with a CAGR of +30.3%, 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, increasing by 37% against the previous year. Import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +12.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 186%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform