Scandinavia: Sugar Market 2022

Sugar Market Size in Scandinavia

The Scandinavia sugar market expanded sharply to $X in 2021, picking up by 8.4% against the previous year. Over the period under review, consumption recorded a noticeable curtailment. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Sugar Production in Scandinavia

In value terms, sugar production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2019 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2021 were Denmark (X tons), Sweden (X tons) and Finland (X tons).

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Finland (with a CAGR of -1.1%), while production for the other leaders experienced a decline in the production figures.

Sugar Exports

Exports in Scandinavia

In 2021, shipments abroad of sugar increased by 10% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2020 with an increase of 26% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sugar exports surged to $X in 2021. Overall, exports, however, saw a abrupt descent. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark was the key exporting country with an export of about X tons, which finished at 82% of total exports. It was distantly followed by Sweden (X tons), comprising a 16% share of total exports. Finland (X tons) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the sugar exports, with a CAGR of -2.8% from 2012 to 2021. Sweden (-7.4%) and Finland (-20.6%) illustrated a downward trend over the same period. Denmark (+13 p.p.) significantly strengthened its position in terms of the total exports, while Sweden and Finland saw its share reduced by -4.8% and -8.1% from 2012 to 2021, respectively.

In value terms, Denmark ($X) remains the largest sugar supplier in Scandinavia, comprising 76% of total exports. The second position in the ranking was held by Sweden ($X), with a 19% share of total exports.

In Denmark, sugar exports contracted by an average annual rate of -5.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (-7.9% per year) and Finland (-17.9% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, surging by 4.4% against the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 4.7%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Finland ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.4%), while the other leaders experienced a decline in the export price figures.

Sugar Imports

Imports in Scandinavia

For the fifth consecutive year, Scandinavia recorded decline in supplies from abroad of sugar, which decreased by -2.4% to X tons in 2021. Overall, imports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2013 when imports increased by 8.2% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sugar imports reached $X in 2021. In general, imports recorded a abrupt descent. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Norway (X tons) and Finland (X tons) represented roughly 73% of total imports in 2021. Denmark (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Sweden (10%). Iceland (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were in Norway (with a CAGR of -1.2%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest sugar importing markets in Scandinavia were Norway ($X), Finland ($X) and Denmark ($X), together accounting for 81% of total imports.

In terms of the main importing countries, Norway, with a CAGR of -4.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, with an increase of 12% against the previous year. Overall, the import price, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2017 when the import price increased by 13% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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