Estonia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Estonia

In 2022, the Estonian cheese and curd market increased by 8.1% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.6% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Cheese And Curd Production in Estonia

In value terms, cheese and curd production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Cheese And Curd Exports

Exports from Estonia

For the eighth year in a row, Estonia recorded growth in shipments abroad of cheese and curd, which increased by 8.7% to X tons in 2022. The total export volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 9.6%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cheese and curd exports skyrocketed to $X in 2022. Overall, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +119.7% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland (X tons), Italy (X tons) and Latvia (X tons) were the main destinations of cheese and curd exports from Estonia, with a combined 59% share of total exports. Poland, the Netherlands, Lithuania and Greece lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +96.9%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Italy ($X) and Latvia ($X) were the largest markets for cheese and curd exported from Estonia worldwide, with a combined 57% share of total exports. Poland, the Netherlands, Greece and Lithuania lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Poland, with a CAGR of +86.8%, recorded the highest growth rate of 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 cheese and curd export price stood at $X per ton in 2022, rising by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Greece ($X per ton) and Italy ($X per ton), while the average price for exports to Latvia ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Estonia

In 2022, purchases abroad of cheese and curd decreased by -0.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +130.5% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. Imports peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, cheese and curd imports totaled $X in 2022. In general, imports, however, posted a resilient increase. The growth pace was the most rapid in 2013 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Poland (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of cheese and curd imports to Estonia, with a combined 58% share of total imports. Lithuania, Latvia, Italy, Denmark, Finland and France lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +24.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd suppliers to Estonia were Poland ($X), Germany ($X) and the Netherlands ($X), with a combined 53% share of total imports. Lithuania, Italy, Latvia, Denmark, Finland and France lagged somewhat behind, together accounting for a further 40%.

Italy, with a CAGR of +19.7%, saw 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 cheese and curd import price stood at $X per ton in 2022, increasing by 1.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 France ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform