Scandinavia: Whole Fresh Milk Market 2024

Whole Fresh Milk Market Size in Scandinavia

The Scandinavia whole fresh milk market reached $X in 2022, picking up by 5.4% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Whole Fresh Milk Production in Scandinavia

In value terms, whole fresh milk production expanded sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 42%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Sweden (X tons), Finland (X tons) and Norway (X tons).

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +0.4%), while production for the other leaders experienced a decline in the production figures.

Whole Fresh Milk Exports

Exports in Scandinavia

In 2022, shipments abroad of whole fresh milk increased by 44% to X tons, rising for the fourth consecutive year after six years of decline. Over the period under review, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 66%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, whole fresh milk exports soared to $X in 2022. In general, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 70% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Sweden (X tons) represented the main exporter of whole fresh milk, mixing up 74% of total exports. It was distantly followed by Finland (X tons) and Norway (X tons), together achieving a 26% share of total exports.

Exports from Sweden decreased at an average annual rate of -8.2% from 2012 to 2022. At the same time, Norway (+8.7%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.7% from 2012-2022. By contrast, Finland (-10.2%) illustrated a downward trend over the same period. While the share of Norway (+7.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-3 p.p.) and Finland (-4.9 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest whole fresh milk supplier in Scandinavia, comprising 73% of total exports. The second position in the ranking was taken by Finland ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at -3.7%. In the other countries, the average annual rates were as follows: Finland (-11.8% per year) and Norway (+11.0% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, surging by 8% against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whole fresh milk export price decreased by -14.4% against 2020 indices. The growth pace was the most rapid in 2020 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, 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 (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Whole Fresh Milk Imports

Imports in Scandinavia

For the third consecutive year, Scandinavia recorded decline in overseas purchases of whole fresh milk, which decreased by -9.7% to X tons in 2022. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, whole fresh milk imports rose slightly to $X in 2022. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 91%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X tons) represented the key importer of whole fresh milk, mixing up 68% of total imports. It was distantly followed by Finland (X tons), achieving a 32% share of total imports.

Sweden was also the fastest-growing in terms of the whole fresh milk imports, with a CAGR of -3.3% from 2012 to 2022. Finland (-17.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +38 percentage points.

In value terms, Sweden ($X) constitutes the largest market for imported whole fresh milk in Scandinavia, comprising 76% of total imports. The second position in the ranking was held by Finland ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to -1.1%.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, picking up by 14% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whole fresh milk import price increased by +27.3% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 60%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Finland totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+2.2%).

Source: IndexBox Platform