Food - Northern Europe

Northern Europe

Highlights

Revenue in the Food market amounts to US$117.50bn in 2024. The market is expected to grow annually by 4.61% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$24.17bn in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$3.47k are generated in 2024.
In the Food market, 4.8% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 22.03bn kg by 2029. The Food market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Food market is expected to amount to 586.50kg in 2024.

Key regions:

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Food market in Northern Europe is seeing moderate growth, driven by factors such as increasing health consciousness, consumer preference for convenience, and the availability of online food services. However, this growth is being impacted by challenges in the sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, and Fruits & Nuts, which are experiencing minimal or negative growth due to changing consumer preferences and economic factors. Despite these challenges, the overall market is expected to continue growing as demand for healthier and more sustainable food options increases.

Customer preferences: Consumers in Northern Europe are becoming more health-conscious and are increasingly seeking out organic and sustainably-sourced food options. This trend is driven by growing concerns over environmental sustainability and animal welfare. As a result, there has been a rise in demand for plant-based alternatives and locally-sourced produce. Additionally, convenience is a key factor for consumers, leading to a surge in online grocery shopping and food delivery services. This shift towards more ethical and sustainable food choices is also influenced by a rise in flexitarian and vegetarian diets in the region.

Trends in the market: In Northern Europe, The Food market industry is seeing a shift towards sustainable and organic products. Consumers are becoming more environmentally conscious and are seeking products that align with their values. This trend is expected to continue, with a focus on transparency and traceability in the supply chain. This has significant implications for industry stakeholders, who will need to adapt and innovate to meet the growing demand for sustainable and ethical food options. Additionally, the rise of e-commerce and online grocery shopping is changing the landscape of the market, with companies investing in digital solutions to cater to the shifting consumer behavior.

Local special circumstances: In Northern Europe, The Food market is heavily influenced by the region's strong focus on sustainability and organic food production. This has led to a rise in demand for locally sourced, environmentally friendly products, with consumers willing to pay a premium for these options. Additionally, strict food regulations and quality standards also play a significant role in shaping the market, ensuring high quality and safety standards for consumers. These unique factors have contributed to the growth of niche markets, such as plant-based and gluten-free products, and have also driven innovation in packaging and distribution methods to reduce the environmental impact.

Underlying macroeconomic factors: The growth of The Food market market is also influenced by macroeconomic factors such as consumer purchasing power, trade policies, and economic stability. Countries with strong economies and favorable trade agreements are experiencing faster market growth compared to regions with economic challenges and trade barriers. Additionally, shifting consumer preferences towards healthier and more sustainable food options are driving the demand for innovative and eco-friendly food products in Northern Europe. The increasing awareness about food safety and quality standards is also contributing to the growth of The Food market market in the region.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.