Scandinavia: Non-Cane Molasses Market 2023

Non-Cane Molasses Market Size in Scandinavia

The Scandinavia non-cane molasses market skyrocketed to $X in 2021, increasing by 30% against the previous year. The total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in Scandinavia

In value terms, non-cane molasses production declined slightly to $X in 2021 estimated in export price. Overall, production showed a deep downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 34% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Non-Cane Molasses Exports

Exports in Scandinavia

In 2021, shipments abroad of molasses (excluding cane molasses) decreased by -39.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2013 when exports increased by 53%. Over the period under review, the exports attained the maximum at X tons in 2020, and then dropped markedly in the following year.

In value terms, non-cane molasses exports reduced dramatically to $X in 2021. Overall, exports, however, recorded pronounced growth. The growth pace was the most rapid in 2013 with an increase of 65%. Over the period under review, the exports reached the peak figure at $X in 2020, and then declined notably in the following year.

Exports by Country

In 2021, Sweden (X tons) was the major exporter of molasses (excluding cane molasses), committing 70% of total exports. It was distantly followed by Denmark (X tons), making up a 30% share of total exports.

Sweden was also the fastest-growing in terms of the molasses (excluding cane molasses) exports, with a CAGR of +28.1% from 2012 to 2021. Denmark (-7.2%) illustrated a downward trend over the same period. While the share of Sweden (+59 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Denmark (-58.7 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest non-cane molasses supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was taken by Denmark ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden totaled +24.8%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Denmark ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+1.1%).

Non-Cane Molasses Imports

Imports in Scandinavia

In 2021, supplies from abroad of molasses (excluding cane molasses) was finally on the rise to reach X tons after two years of decline. In general, imports saw a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 63% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, non-cane molasses imports skyrocketed to $X in 2021. Overall, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Denmark (X tons) was the key importer of molasses (excluding cane molasses), mixing up 62% of total imports. Norway (X tons) ranks second in terms of the total imports with an 18% share, followed by Finland (11%) and Sweden (8.9%).

Imports into Denmark increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Norway (+32.3%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +32.3% from 2012-2021. Sweden experienced a relatively flat trend pattern. By contrast, Finland (-4.4%) illustrated a downward trend over the same period. While the share of Norway (+16 p.p.) and Denmark (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-4 p.p.) and Finland (-13.7 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) constitutes the largest market for imported molasses (excluding cane molasses) in Scandinavia, comprising 59% of total imports. The second position in the ranking was taken by Norway ($X), with a 22% share of total imports. It was followed by Finland, with an 11% share.

In Denmark, non-cane molasses imports expanded at an average annual rate of +5.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (+33.9% per year) and Finland (-4.1% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, surging by 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Finland ($X per ton), while Sweden ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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