The high rate of inflation and increasing production and transportation costs drove up the unit prices of cooking ingredients and meals significantly in 2022 and 2023. What is more, edible oils saw even sharper movements in price due to the deficit in the supply of sunflower oil.
New product development and marketing activity proved to be an important tool for boosting sales and catering to evolving trends and shifting demand in 2023. Health and wellness continued to impact innovation, whether it be prompting manufacturers to offer vegan and plant-based options or products with a lower or non-existent sugar, lactose or gluten content.
Local players and private labels are popular in Finland, with Saarioinen Oy leading meals and soup, whilst Kesko Oyj leads edible oils, and S Group leads sweet spreads. All players have been engaging strongly with current and emerging trends and launching a number of new products to meet them.
In 2023, the Finnish cooking ingredients and meals market continued to see normalisation as the foodservice channel saw ongoing recovery after the plummeting of its sales during the period of COVID-19 restrictions and retail sales moved back towards their normal levels. E-commerce continued to grow, albeit at a slower rate when compared to the dynamic development witnessed during the COVID-19 pandemic.
Cooking ingredients and meals players are expected to increase their focus on responsibility by moving towards carbon neutrality and reducing their carbon footprints through the use of renewable energy, reducing production waste and improving the recyclability of their packaging during the forecast period. There will be a stronger emphasis on fresh and local ingredients that targets both the sustainability and the health and wellness trends.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Finland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Finland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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