Finland: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in Finland

In 2022, the Finnish industrial bakery machinery market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, recorded a precipitous curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Industrial Bakery Machinery Production in Finland

In value terms, industrial bakery machinery production surged to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Industrial Bakery Machinery Exports

Exports from Finland

In 2022, overseas shipments of industrial bakery machinery increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, industrial bakery machinery exports reduced sharply to $X in 2022. Overall, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X units) was the main destination for industrial bakery machinery exports from Finland, with a X% share of total exports. Moreover, industrial bakery machinery exports to Russia exceeded the volume sent to the second major destination, Norway (X units), twofold. The third position in this ranking was taken by Kazakhstan (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (X% per year) and Kazakhstan (X% per year).

In value terms, Russia ($X), Norway ($X) and the UK ($X) constituted the largest markets for industrial bakery machinery exported from Finland worldwide, together accounting for X% of total exports.

The UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average industrial bakery machinery export price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per unit, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Togo ($X per unit) was amongst the lowest.

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

Industrial Bakery Machinery Imports

Imports into Finland

After two years of growth, supplies from abroad of industrial bakery machinery decreased by X% to X units in 2022. Over the period under review, total imports indicated measured growth 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. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, industrial bakery machinery imports fell to $X in 2022. Overall, total imports indicated a mild expansion 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, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Germany (X units), Denmark (X units) and Italy (X units) were the main suppliers of industrial bakery machinery imports to Finland, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Denmark ($X) appeared to be the largest industrial bakery machinery suppliers to Finland, together accounting for X% of total imports.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average industrial bakery machinery import price amounted to $X per unit, falling by X% against the previous year. Over the period under review, the import price showed a mild curtailment. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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