Food - Norway

Norway

Revenue in the Food market amounts to US$19.38bn in 2024. The market is expected to grow annually by 3.92% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$4.14bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$3,475.00 are generated in 2024.
In the Food market, 5.4% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 2,889.00m kg by 2029. The Food market is expected to show a volume growth of 2.0% in 2025.
The average volume per person in the Food market is expected to amount to 467.90kg in 2024.

Key regions: United States, Canada, China, India, South Korea

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

Region

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Analyst Opinion

The Food market in Norway has been experiencing slow growth due to factors such as changing consumer preferences, strict regulations, and increasing competition from imported products. The sub-markets of dairy products, meat, and bread have been affected the most, while convenience food and confectionery & snacks have seen slight growth. Despite the negligible growth rate, the market is expected to see a gradual increase in demand for healthier and sustainable food options, as well as a rise in online sales and home cooking trends.

Customer preferences: As Norway's population becomes more health-conscious, there has been a rise in demand for organic, locally-sourced and sustainable food products. This trend is driven by a growing awareness of the environmental impact of food production and a desire for healthier, more ethically-sourced options. Additionally, with the rise of social media and influencer culture, there is a growing interest in trying new and exotic cuisines, leading to a demand for international food options in the market.

Trends in the market: In Norway, The Food market industry is seeing a rise in demand for sustainable and locally sourced products. This trend is driven by consumers' increasing awareness of the environmental impact of food production and their desire for transparency in the supply chain. As a result, industry stakeholders are investing in sustainable practices and promoting their use of local ingredients. This trajectory towards sustainability and transparency has significant implications for the industry, as it may lead to increased competition and pressure to adopt more environmentally friendly practices. Additionally, it presents opportunities for companies to differentiate themselves in the market and cater to the growing demand for sustainable food options.

Local special circumstances: In Norway, The Food market is heavily influenced by the country's strong sustainability culture and focus on organic and locally sourced products. The demand for healthy and environmentally friendly food options has led to the growth of niche markets, such as organic and plant-based products. Additionally, Norway's strict regulations on food production and labeling have resulted in a high level of trust and transparency in the market, further driving consumer preferences towards sustainable and ethical food choices.

Underlying macroeconomic factors: The Food market in Norway is impacted by a range of macroeconomic factors, including the country's stable economic health and favorable fiscal policies. The global trend towards healthy and sustainable food options has also influenced the market, leading to increased demand for organic, locally sourced products. Additionally, Norway's strong investment in sustainable and environmentally friendly practices has further boosted the growth of The Food market, as consumers are increasingly conscious about the impact of their food choices on the environment. Furthermore, the country's high standard of living and disposable income levels have also contributed to the growing demand for premium food products in Norway.

Methodology

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.