Scandinavia: Vegetable Oils Market 2024

Vegetable Oils Market Size in Scandinavia

The Scandinavia vegetable oils market amounted to $X in 2022, standing approx. at the previous year. In general, consumption saw a perceptible reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Oils Production in Scandinavia

In value terms, vegetable oils production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vegetable Oils Exports

Exports in Scandinavia

In 2022, approx. X tons of vegetable fats and oils were exported in Scandinavia; declining by X% against 2021 figures. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, vegetable oils exports stood at $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2013 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Sweden (X tons) was the key exporter of vegetable fats and oils in Scandinavia, committing X% of total export.

Sweden was also the fastest-growing in terms of the vegetable fats and oils exports, with a CAGR of X% from 2012 to 2022. While the share of Sweden (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) also remains the largest vegetable oils supplier in Scandinavia.

In Sweden, vegetable oils exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, saw a mild slump. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, 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 X% per year.

Vegetable Oils Imports

Imports in Scandinavia

In 2022, purchases abroad of vegetable fats and oils decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports continue to indicate a slight descent. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, vegetable oils imports fell slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Norway represented the major importing country with an import of around X tons, which amounted to X% of total imports. Sweden (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Finland (X%).

Norway experienced a relatively flat trend pattern with regard to volume of imports of vegetable fats and oils. Finland experienced a relatively flat trend pattern. Sweden (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Norway and Finland increased by X and X percentage points, respectively.

In value terms, Norway ($X) constitutes the largest market for imported vegetable fats and oils in Scandinavia, comprising X% of total imports. The second position in the ranking was taken by Sweden ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Norway totaled X%. In the other countries, the average annual rates were as follows: Sweden (X% per year) and Finland (X% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, picking up by X% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable oils import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform