Estonia: Animal Feed Market 2024

Animal Feed Market Size in Estonia

In 2022, after two years of growth, there was significant decline in the Estonian animal feed market, when its value decreased by -23.8% to $X. In general, consumption, however, showed a relatively flat trend pattern. Animal feed consumption peaked at $X in 2021, and then declined markedly in the following year.

Animal Feed Production in Estonia

In value terms, animal feed production dropped significantly to $X in 2022 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2021, and then fell rapidly in the following year.

Animal Feed Exports

Exports from Estonia

In 2022, overseas shipments of animal and pet feed were finally on the rise to reach X tons after four years of decline. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 132% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, animal feed exports skyrocketed to $X in 2022. Overall, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Latvia (X tons) and Russia (X tons) were the main destinations of animal feed exports from Estonia, together comprising 90% of total exports. Belarus, Finland and Sweden lagged somewhat behind, together accounting for a further 8.9%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +176.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for animal feed exported from Estonia were Russia ($X), Latvia ($X) and Lithuania ($X), together comprising 79% of total exports. Belarus, Finland and Sweden lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Belarus, with a CAGR of +107.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, falling by -9.2% against the previous year. In general, the export price, however, posted a noticeable increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 91%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Estonia

In 2022, purchases abroad of animal and pet feed decreased by -6.1% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a noticeable downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 25% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, animal feed imports skyrocketed to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 32% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Latvia (X tons) constituted the largest animal feed supplier to Estonia, accounting for a 55% share of total imports. Moreover, animal feed imports from Latvia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia stood at -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and the Netherlands (-2.9% per year).

In value terms, Latvia ($X), Germany ($X) and the Netherlands ($X) constituted the largest animal feed suppliers to Estonia, with a combined 58% share of total imports. France, Denmark, Belgium, Lithuania, Finland and Poland lagged somewhat behind, together comprising a further 30%.

France, with a CAGR of +29.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average animal feed import price stood at $X per ton in 2022, growing by 23% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed import price increased by +81.4% against 2015 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform