Finland: Market for Colouring Matter Of Vegetable Or Animal Origin 2022

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Finland

The Finnish market for colouring matter of vegetable or animal origin surged to $X in 2021, growing by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Vegetable or animal colouring matter consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Finland

In 2021, shipments abroad of colouring matter of vegetable or animal origin increased by 76% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 104%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable or animal colouring matter exports skyrocketed to $X in 2021. In general, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Estonia (X kg) and Sweden (X kg) were the main destinations of vegetable or animal colouring matter exports from Finland, with a combined 82% share of total exports. Denmark, Latvia and Poland lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were in Latvia (with a CAGR of +115.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for vegetable or animal colouring matter exports from Finland, comprising 88% of total exports. The second position in the ranking was held by Sweden ($X), with a 4% share of total exports. It was followed by Estonia, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +84.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+24.2% per year) and Estonia (-6.8% per year).

Export Prices by Country

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, rising by 92% against the previous year. In general, the export price recorded a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Finland

Vegetable or animal colouring matter imports into Finland rose notably to X tons in 2021, with an increase of 11% compared with the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 21%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, vegetable or animal colouring matter imports surged to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 27% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Denmark (X tons), France (X tons) and Germany (X tons) were the main suppliers of vegetable or animal colouring matter imports to Finland, with a combined 68% share of total imports. These countries were followed by the Netherlands, the UK, Sweden and Spain, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of +31.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), the Netherlands ($X) and Germany ($X) constituted the largest vegetable or animal colouring matter suppliers to Finland, together accounting for 82% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +20.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for colouring matter of vegetable or animal origin amounted to $X per ton, picking up by 9.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 22%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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