Updated Sep 23, 2022 06:48

Articles of Gut Market in Denmark

Market Overview
The Danish articles of gut market skyrocketed to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a buoyant increase. Over the period under review, the market attained the maximum level in and is expected to retain growth in the near future.

In value terms, articles of gut production stood at $ in estimated in export price. Over the period under review, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of %. As a result, production attained the peak level of $. From 2019 to , production growth failed to regain momentum.


Consumption
In , the amount of articles of gut, goldbeater’s skin, bladders or tendons consumed in Denmark stood at kg, picking up by % on the year before. In general, consumption enjoyed a prominent expansion. Over the period under review, consumption hit record highs at kg in 2016; however, from 2017 to , consumption failed to regain momentum.

The revenue of the articles of gut market in Denmark declined slightly to $ in , reducing by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a strong expansion. Over the period under review, the market attained the maximum level at $ in , and then shrank slightly in the following year.


Market Forecast
Driven by increasing demand for articles of gut in Denmark, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to kg by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Articles of gut market in Denmark consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Denmark relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Denmark remains a net importer of articles of gut; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of kg, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.