Press release
Profitability in the finnish food industry strengthens, driving increased investment and employment
Published:
Profitability in the Finnish food industry has continued to improve, reflected in rising investment levels and job creation. ETL member companies anticipate that this favorable trend will persist into next year, despite an operating environment that remains uncertain and consumer demand that is still subdued.
According to the latest Economic Review of the Finnish food Industries’ Federation, the sector’s turnover increased by two percent in 2024, reaching EUR 14.3 billion. Concurrently, overall costs declined by approximately one percent. As a result of the turnover growth, the profitability of the industry has returned to levels last seen before to the cost crisis that began in 2022.
The growth in production and improved profitability have strengthened companies’ willingness to invest. Between 2023 and 2025, annual investments in the food industry are expected to range between EUR 600–800 million, compared with the traditional investment level of EUR 400–600 million per year.
The positive development is also reflected in employment. This year, the sector employs slightly more than 40,000 people. In Finland, employment growth in the food industry has outpaced that of other EU member states. Over the longer term, employment in the Finnish food industry has developed favorably, in comparison with other industrial sectors.
Outlook for 2026 – Continued Growth Amid Uncertainty
A recent member survey conducted by ETL indicates that companies expect production volumes to grow moderately next year. Investment activity is also expected to remain strong, and profitability is expected to continue improving. Companies aim to strengthen their position both in the domestic market and through exports.
However, few companies foresee a decline in production volumes and profitability in 2026. A similar view is presented in the Confederation of Finnish Industries’ (EK) survey, which forecasts a slight increase in production but a weakening of profitability. These expectations are reflected in more cautious hiring intentions for the year ahead.
Food Price Development Remains Moderate
In retail, consumer food prices have increased by only around two percent this year. Food price inflation in Finland is currently significantly slower than in neighboring Sweden and Estonia. Nevertheless, consumer prices in Finland and across Europe remain elevated compared with previous years.
Substantial variation can be observed in the price development of individual products. In October, for example, the consumer price of beef was 22 percent higher than a year earlier. Coffee prices rose by 21 percent, cocoa by 17 percent, and chocolate by 7 percent, mainly due to global supply disruptions.
Picture: ETL/ Kokkikartano
