Estonia: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Estonia

The Estonian buttermilk and buttermilk powder market fell notably to $X in 2022, reducing by -15.3% against the previous year. Over the period under review, consumption recorded a deep slump. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Buttermilk And Buttermilk Powder in Estonia

In value terms, buttermilk and buttermilk powder production shrank significantly to $X in 2022 estimated in export price. Overall, production showed a deep contraction. The growth pace was the most rapid in 2021 with an increase of 63% against the previous year. Buttermilk and buttermilk powder production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Buttermilk And Buttermilk Powder

Exports from Estonia

In 2022, overseas shipments of buttermilk and buttermilk powder increased by 19% to X tons, rising for the seventh year in a row after three years of decline. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2016 with an increase of 44% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, buttermilk and buttermilk powder exports surged to $X in 2022. In general, exports continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 30%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Latvia (X tons) was the main destination for buttermilk and buttermilk powder exports from Estonia, accounting for a 78% share of total exports. Moreover, buttermilk and buttermilk powder exports to Latvia exceeded the volume sent to the second major destination, Finland (X tons), fivefold. The third position in this ranking was held by Lithuania (X tons), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia totaled +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+12.4% per year) and Lithuania (+23.8% per year).

In value terms, Latvia ($X) remains the key foreign market for buttermilk and buttermilk powder exports from Estonia, comprising 64% of total exports. The second position in the ranking was held by Finland ($X), with a 24% share of total exports. It was followed by Lithuania, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Latvia amounted to +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+14.1% per year) and Lithuania (+30.2% per year).

Export Prices by Country

The average buttermilk and buttermilk powder export price stood at $X per ton in 2022, rising by 7.7% against the previous year. Over the period under review, the export price, however, showed a perceptible contraction. The growth pace was the most rapid in 2014 when the average export price increased by 10% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Poland ($X per ton), while the average price for exports to Latvia ($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 Russia (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports into Estonia

In 2022, imports of buttermilk and buttermilk powder into Estonia skyrocketed to X tons, jumping by 28% on 2021 figures. In general, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 399%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, buttermilk and buttermilk powder imports rose notably to $X in 2022. Overall, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 264%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Belgium (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of buttermilk and buttermilk powder imports to Estonia, together accounting for 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +126.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of buttermilk and buttermilk powder to Estonia, comprising 51% of total imports. The second position in the ranking was taken by Poland ($X), with a 17% share of total imports. It was followed by Germany, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled +126.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.9% per year) and Germany (+9.6% per year).

Import Prices by Country

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, waning by -14.3% against the previous year. Over the period under review, the import price recorded a slight reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Belgium ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform