Sweden: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Sweden

The Swedish market for cod, salted or in brine expanded notably to $X in 2022, surging by 7.4% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.7% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Cod, Salted or in Brine in Sweden

In value terms, cod, salted or in brine production reduced rapidly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 94%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Cod, Salted or in Brine

Exports from Sweden

In 2022, approx. X tons of cod, salted or in brine were exported from Sweden; waning by -2.9% against the previous year. Overall, exports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2013 with an increase of 14%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cod, salted or in brine exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 21% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Portugal (X tons) was the main destination for cod, salted or in brine exports from Sweden, accounting for a 79% share of total exports. Moreover, cod, salted or in brine exports to Portugal exceeded the volume sent to the second major destination, Spain (X tons), sevenfold. Greece (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-11.9% per year) and Greece (-2.8% per year).

In value terms, Portugal ($X) remains the key foreign market for cod, salted or in brine exports from Sweden, comprising 81% of total exports. The second position in the ranking was held by Spain ($X), with a 10% share of total exports. It was followed by Greece, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-9.5% per year) and Greece (-2.1% per year).

Export Prices by Country

The average export price for cod, salted or in brine stood at $X per ton in 2022, growing by 23% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Portugal ($X per ton), while the average price for exports to Greece ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cod, Salted or in Brine

Imports into Sweden

In 2022, approx. X tons of cod, salted or in brine were imported into Sweden; almost unchanged from the previous year's figure. Overall, imports recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, cod, salted or in brine imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Norway (X tons) was the main supplier of cod, salted or in brine to Sweden, accounting for a approx. 99.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Norway stood at -2.2%.

In value terms, Norway ($X) constituted the largest supplier of cod, salted or in brine to Sweden.

From 2012 to 2022, the average annual rate of growth in terms of value from Norway was relatively modest.

Import Prices by Country

In 2022, the average import price for cod, salted or in brine amounted to $X per ton, with an increase of 23% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Norway.

From 2012 to 2022, the rate of growth in terms of prices for Norway amounted to +3.1% per year.

Source: IndexBox Platform

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