Margarine market in Finland

Earlier Report Observations

The Finnish margarine market experienced notable volatility between 2018 and 2020. In 2019, market volume surged to 38 040 tonnes, largely due to the expansion of the bakery and confectionery sector, which increased demand for industrial margarine. Concurrently, the introduction of soft margarine varieties with reduced trans fats attracted consumer interest. The following year, volume dropped to 22 420 tonnes as the COVID-19 pandemic disrupted supply chains, despite heightened household demand for spreadable products.

From 2021 onward, the market stabilized and gradually recovered, reaching 25 614 tonnes in 2024. This was supported by continuous growth in the bakery sector and the launch of new health-oriented margarines, such as those enriched with omega-3 and plant-based ingredients. Starting in 2022, EU regulatory changes, including trans fat limits and the Deforestation-Free Regulation, influenced raw material sourcing, prompting a shift toward alternative oils like sunflower and rapeseed. These measures, coupled with consumer preference for clean-label and plant-based products, drove product innovation and market consolidation.

In value terms, the market grew from USD 61.6 million in 2018 to USD 89.2 million in 2023, reflecting a shift toward premium and specialized margarines, before easing to USD 82.4 million in 2024. The increase in market value was underpinned by the trend toward healthier, trans-fat-free, and sustainably sourced products, which commanded higher prices.

Production margarine in Finland

In value, 2017-2020, K $ US

In 2020, Finland's margarine production was valued at 40 146 thousand US dollars, marking a 4.0% increase from the previous year. Over the period from 2017 to 2020, production grew by 13.4%, with an average annual growth rate of 4.3%. The largest decline occurred in 2019, at 1.4%, while the most significant increase was in 2018, at 10.6%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, t

In 2020, Finland produced 16 443 tonnes of margarine, showing minimal change from the year before. From 2017 to 2020, production rose by 11%, with an average annual growth rate of 3.6%. The largest increase was recorded in 2018, at 6.8%.

Annual dynamics of production in Finland in kind, 2017-2020, t

Exports margarine from Finland

Exports in kind, t

After two years of growth, Finland's margarine exports declined. In 2020, the country exported 4 030 tonnes, which is 23.5% lower than the previous year. Over the 2017-2020 period, exports increased by 30.9%, with an average annual growth rate of 9.4%. The peak was in 2019 at 5 269 tonnes, with the largest increase also in 2019 at 33.9%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Sweden, Norway, and Estonia were the top contributors to Finland's margarine exports in volume terms. Sweden accounted for 45.4% of exports, Norway for 24.9%, and Estonia for 17.6%, together making up 87.8% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

Finland's margarine export value declined for the second year in a row. In 2020, exports amounted to 8 516 thousand US dollars, a slight decrease of 0.9% from the previous year. Over the 2017-2020 period, export value increased by 15.7%, with an average annual growth rate of 5.0%. The highest value was in 2018 at 9 098 thousand US dollars, with the largest decline in 2019 at 5.5% and the largest increase in 2018 at 23.7%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

From 2017 to 2020, Sweden, Estonia, and Norway were the largest buyers of margarine from Finland in value terms. Sweden accounted for 45.8% of exports, Estonia for 22.4%, and Norway for 20.4%, together representing 88.7% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports margarine to Finland

Imports in kind, t

The market showed volatility during these years. Imports reached their lowest point in 2020 at 10 008 tonnes, down 62.8% from the previous year, while the peak was in 2019 at 26 868 tonnes, resulting in a 2.7-fold difference between these years. The largest increase occurred in 2019 at 95.0%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Sweden was the primary source for Finland's margarine imports in volume terms, accounting for 77.8% of total flows, with other markets forming a long tail of smaller partners.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

In 2020, Finland's margarine import value was recorded at 22 545 thousand US dollars, showing a sharp drop of 31.3% year-over-year. Over the 2017-2020 period, imports decreased by 30.1%, with an average annual decline of 11.3%. The highest value was in 2019 at 32 804 thousand US dollars, with the largest increase in 2019 at 4.0%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

From 2017 to 2020, Sweden and Belgium were the dominant sources for Finland's margarine imports in value terms, jointly accounting for 80.5% of total flows, while the remaining volume was distributed among smaller markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020