Norway: Market for Cereal Grain Products (Including Corn Flakes) 2024

Market Size for Cereal Grain Products (Including Corn Flakes) in Norway

The Norwegian market for cereal grain products (including corn flakes) soared to $X in 2022, rising by X% against the previous year. Over the period under review, consumption saw a significant increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Cereal Grain Products (Including Corn Flakes) in Norway

In value terms, corn flakes and cereal products production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Cereal Grain Products (Including Corn Flakes)

Exports from Norway

Corn flakes and cereal products exports from Norway skyrocketed to X tons in 2022, picking up by X% compared with the previous year's figure. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, corn flakes and cereal products exports soared to $X in 2022. In general, exports continue to indicate perceptible growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for corn flakes and cereal products exports from Norway, accounting for a X% share of total exports. Moreover, corn flakes and cereal products exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), more than tenfold. Denmark (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Denmark (X% per year).

In value terms, Sweden ($X) remains the key foreign market for cereal grain products (including corn flakes) exports from Norway, comprising X% of total exports. The second position in the ranking was held by Denmark ($X), with a X% share of total exports. It was followed by Iceland, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Iceland (X% per year).

Export Prices by Country

In 2022, the average export price for cereal grain products (including corn flakes) amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, recorded a deep setback. The growth pace was the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

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

Imports of Cereal Grain Products (Including Corn Flakes)

Imports into Norway

In 2022, purchases abroad of cereal grain products (including corn flakes) decreased by X% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, corn flakes and cereal products imports fell to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

Germany (X tons), Denmark (X tons) and Sweden (X tons) were the main suppliers of corn flakes and cereal products imports to Norway, 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, the largest corn flakes and cereal products suppliers to Norway were Germany ($X), Denmark ($X) and Sweden ($X), together comprising X% of total imports.

In terms of the main suppliers, Denmark, with a CAGR of X%, 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

The average import price for cereal grain products (including corn flakes) stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price continues to indicate a mild contraction. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Turkey ($X per ton) 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 more modest paces of growth.

Source: IndexBox Platform

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