Estonia: Bread And Bakery Market 2024

Bread And Bakery Market Size in Estonia

In 2022, the Estonian bread and bakery market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bread And Bakery Production in Estonia

In value terms, bread and bakery production surged to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Bread And Bakery Exports

Exports from Estonia

In 2022, shipments abroad of bread and bakery was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, bread and bakery exports soared to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Finland (X tons), Latvia (X tons) and Lithuania (X tons) were the main destinations of bread and bakery exports from Estonia, together comprising X% of total exports. Sweden and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, Finland ($X) remains the key foreign market for bread and bakery exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Latvia ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Lithuania (X% per year).

Export Prices by Country

The average bread and bakery export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Latvia ($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 Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bread And Bakery Imports

Imports into Estonia

In 2022, overseas purchases of bread and bakery were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bread and bakery imports soared to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Latvia (X tons) constituted the largest supplier of bread and bakery to Estonia, with a X% share of total imports. Moreover, bread and bakery imports from Latvia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, the largest bread and bakery suppliers to Estonia were Latvia ($X), Lithuania ($X) and Finland ($X), together accounting for X% of total imports. Germany, Poland, Sweden, Belgium, Ukraine, the Netherlands, the UK, Russia and Ireland lagged somewhat behind, together accounting for a further X%.

Ireland, with a CAGR of X%, saw the highest growth rate of 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 bread and bakery import price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform