Scandinavia: Preserved Tuna Market 2024

Preserved Tuna Market Size in Scandinavia

For the sixth consecutive year, the Scandinavia preserved tuna market recorded decline in sales value, which decreased by -12.7% to $X in 2021. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Preserved Tuna Production in Scandinavia

In value terms, preserved tuna production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 111%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Preserved Tuna Exports

Exports in Scandinavia

In 2021, approx. X tons of tuna (prepared or preserved) were exported in Scandinavia; jumping by 19% against the previous year. Total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.7% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 45% 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, preserved tuna exports skyrocketed to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +80.0% against 2015 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 36% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

In 2021, Denmark (X tons) was the major exporter of tuna (prepared or preserved), achieving 82% of total exports. It was distantly followed by Sweden (X tons), comprising a 13% share of total exports. Finland (X tons) took a little share of total exports.

Denmark was also the fastest-growing in terms of the tuna (prepared or preserved) exports, with a CAGR of +9.3% from 2012 to 2021. Sweden experienced a relatively flat trend pattern. Finland (-18.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +35 percentage points.

In value terms, Denmark ($X) remains the largest preserved tuna supplier in Scandinavia, comprising 82% of total exports. The second position in the ranking was taken by Sweden ($X), with a 13% share of total exports.

In Denmark, preserved tuna exports expanded at an average annual rate of +10.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+1.3% per year) and Finland (-15.4% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, growing by 1.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2013 an increase of 31%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.2%), while the other leaders experienced more modest paces of growth.

Preserved Tuna Imports

Imports in Scandinavia

In 2021, approx. X tons of tuna (prepared or preserved) were imported in Scandinavia; which is down by -17.7% on the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved tuna imports declined dramatically to $X in 2021. Overall, imports saw a slight decline. The most prominent rate of growth was recorded in 2013 when imports increased by 46%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of preserved tuna imports in 2021 were Finland (X tons), Denmark (X tons) and Sweden (X tons), together recording 92% of total import. It was distantly followed by Norway (X tons), mixing up a 6.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +0.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest preserved tuna importing markets in Scandinavia were Finland ($X), Denmark ($X) and Sweden ($X), together comprising 91% of total imports.

Among the main importing countries, Sweden, with a CAGR of -0.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, increasing by 2.9% against the previous year. Overall, the import price, however, saw a mild contraction. The pace of growth was the most pronounced in 2018 an increase of 11% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Denmark ($X per ton), while Sweden ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform