Smoked salmon market in Finland

Earlier Report Observations

The smoked salmon market in Finland reached 2 927 t in 2018, supported by growing consumer interest and the spread of home smoking methods such as electric smokers. After a decline in 2019, volumes recovered to 2 717 t in 2020 as supply chains normalized following initial pandemic disruptions and salmon prices fluctuated, then edged up to 2 755 t in 2021 amid sustained consumer preference for fatty fish.

From 2022, the market entered a pronounced contraction, falling to 2 576 t that year as cost inflation and higher feed prices impacted local fish producers, leading to elevated market prices for salmon. This downward trend accelerated, with volumes dropping to 1 984 t in 2023 and 1 481 t in 2024.

Production smoked salmon in Finland

In value, 2017-2020, K $ US

In 2019, Finland's smoked salmon production reached its lowest value at 37 193 thousand US dollars. The following year, in 2020, output increased by 11.2% to 41 372 thousand US dollars. Over the period from 2017 to 2020, production grew by 2.1%, which translates to an average annual increase of 0.7%. The most significant decline occurred in 2019, with a drop of 9.0%.

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

In kind, 2017-2020, t

After two years of decline, Finland's smoked salmon production rebounded in 2020. That year, output reached 2 769 tonnes, marking a substantial increase of 11.9% compared to 2019. However, over the broader period from 2017 to 2020, production decreased by 4.1%, with a compound annual growth rate of -1.4%. The lowest production level was recorded in 2019 at 2 475 tonnes, which also saw the largest decline of 8.3%.

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

Exports smoked salmon from Finland

Exports in kind, t

The market exhibited considerable volatility during the observed period. Exports hit their lowest point in 2019 at just 4.6 tonnes, but surged dramatically in 2020 to 241.2 tonnes, representing an increase of 5 185.1% compared to the previous year. Overall, exports varied by a factor of 53 between the low in 2019 and the high in 2020. The most significant decline occurred in 2019, with a drop of 92.3%.

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

From 2017 to 2020, Sweden and Germany were the primary destinations for Finland's smoked salmon exports in volume terms, together accounting for 80.6% of total shipments. Other trading partners played a much smaller role individually during this period.

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

Market performance showed noticeable fluctuations over the period. The lowest value was recorded in 2017, while exports peaked in 2019 at 4 366 thousand US dollars, representing a 4.7-fold increase from the minimum. In 2020, exports declined moderately by 6.2% to 4 094 thousand US dollars compared to 2019. The largest increase occurred in 2019, with a jump of 281.1%.

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

Throughout 2017 to 2020, Sweden, Germany, and France were the main markets for Finland's smoked salmon exports in value terms. Sweden accounted for 49.7% of export value, Germany for 23.9%, and France for 14.5%. Together, these three countries represented 88.1% of total export flows during this period.

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

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

Imports smoked salmon to Finland

Imports in kind, t

Import volumes showed significant volatility from 2017 to 2020. They reached their highest point in 2017 and fell to their lowest in 2019 at 7.8 tonnes, representing a 47-fold difference between these years. In 2020, imports rebounded sharply to 189.1 tonnes, marking an increase of 2 318.9% compared to 2019. The most substantial decline occurred in 2019, with a drop of 97.3%.

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

Between 2017 and 2020, Poland, Sweden, and Norway were the largest contributors to Finland's smoked salmon imports in volume terms. Poland accounted for 50.0% of imports, Sweden for 28.1%, and Norway for 12.4%. Collectively, these three countries represented 90.5% of total import flows during this period.

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

Finland's smoked salmon imports declined for the third consecutive year in 2020, reaching 3 147 thousand US dollars, which represents a significant reduction of 21.9% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 37.4%, equating to an average annual decline of 14.4%.

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

From 2017 to 2020, Poland and Sweden dominated Finland's smoked salmon imports in value terms. Poland accounted for 61.2% of total import value, while Sweden contributed 20.4%. Together, these two countries represented 81.6% of total imports, with other partners accounting for the remainder.

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

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