Scandinavia: Biological Product Market 2024

Biological Product Market Size in Scandinavia

In 2023, after four years of decline, there was growth in the Scandinavia biological product market, when its value increased by X% to $X. In general, consumption, however, posted pronounced growth. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Biological Product Production in Scandinavia

In value terms, biological product production declined remarkably to $X in 2023 estimated in export price. Overall, production saw a abrupt descent. The pace of growth was the most pronounced in 2022 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Biological Product Exports

Exports in Scandinavia

In 2023, approx. X tons of biological products were exported in Scandinavia; surging by X% on the previous year's figure. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, biological product exports soared to $X in 2023. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2022 with an increase of X%. The level of export peaked in 2023 and is likely to see gradual growth in the near future.

Exports by Country

Sweden prevails in exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Finland (X tons), achieving a X% share of total exports. Norway (X tons) held a little share of total exports.

Sweden was also the fastest-growing in terms of the biological products exports, with a CAGR of X% from 2012 to 2023. Finland experienced a relatively flat trend pattern. Norway (X%) illustrated a downward trend over the same period. Sweden (X p.p.) significantly strengthened its position in terms of the total exports, while Finland and Norway saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Sweden ($X) remains the largest biological product supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was held by Finland ($X), with a X% share of total exports.

In Sweden, biological product exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Finland (X% per year) and Norway (X% per year).

Export Prices by Country

In 2023, the export price in Scandinavia amounted to $X per kg, picking up by X% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per kg), while Norway ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced mixed trends in the export price figures.

Biological Product Imports

Imports in Scandinavia

In 2023, supplies from abroad of biological products decreased by X% to X tons, falling for the second consecutive year after seven years of growth. Total imports indicated buoyant growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, biological product imports soared to $X in 2023. Overall, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Sweden prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. Norway (X tons) held the second position in the ranking, followed by Finland (X tons). All these countries together held near X% share of total imports.

Sweden was also the fastest-growing in terms of the biological products imports, with a CAGR of X% from 2012 to 2023. Norway experienced a relatively flat trend pattern. Finland (X%) illustrated a downward trend over the same period. Sweden (X p.p.) significantly strengthened its position in terms of the total imports, while Norway and Finland saw its share reduced by X% and X% from 2012 to 2023, respectively.

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

In Sweden, biological product imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Norway (X% per year) and Finland (X% per year).

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per ton, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. Over the period under review, import prices hit record highs at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Finland ($X,667 per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform