Scandinavia: Yoghurt Market 2024

Yoghurt Market Size in Scandinavia

In 2022, the Scandinavia yoghurt market decreased by -5.9% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption enjoyed a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Yoghurt Production in Scandinavia

In value terms, yoghurt production totaled $X in 2022 estimated in export price. In general, production continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 105,267% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Yoghurt Exports

Exports in Scandinavia

In 2022, exports of yoghurt in Scandinavia stood at X tons, with an increase of 11% on the year before. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 58%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, yoghurt exports expanded notably to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 22% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Finland represented the major exporting country with an export of about X tons, which reached 70% of total exports. It was distantly followed by Sweden (X tons), constituting a 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to yoghurt exports from Finland stood at -1.2%. At the same time, Sweden (+7.6%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +7.6% from 2012-2022. Sweden (+14 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -14.8% from 2012 to 2022, respectively.

In value terms, the largest yoghurt supplying countries in Scandinavia were Finland ($X) and Sweden ($X).

Sweden, with a CAGR of +9.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, reducing by -2.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 47%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, 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 (+2.0%).

Yoghurt Imports

Imports in Scandinavia

In 2022, imports of yoghurt in Scandinavia stood at X tons, picking up by 2.1% compared with the previous year's figure. Over the period under review, imports, however, showed a slight setback. The pace of growth appeared the most rapid in 2013 with an increase of 7.5% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, yoghurt imports reduced to $X in 2022. In general, imports, however, showed a slight slump. The most prominent rate of growth was recorded in 2013 when imports increased by 18% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Sweden represented the main importing country with an import of about X tons, which finished at 69% of total imports. Finland (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by Norway (6.1%).

Sweden experienced a relatively flat trend pattern with regard to volume of imports of yoghurt. At the same time, Norway (+3.1%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +3.1% from 2012-2022. By contrast, Finland (-2.6%) illustrated a downward trend over the same period. While the share of Norway (+2.1 p.p.) and Sweden (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-4.1 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported yoghurt in Scandinavia, comprising 62% of total imports. The second position in the ranking was taken by Finland ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden totaled -2.3%. The remaining importing countries recorded the following average annual rates of imports growth: Finland (-3.2% per year) and Norway (+11.1% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, dropping by -2.6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 9.9%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 Norway (+7.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform