Estonia: Powdered Milk Market 2024

Powdered Milk Market Size in Estonia

In 2022, the Estonian powdered milk market decreased by -4.1% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, showed perceptible growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Powdered Milk Production in Estonia

In value terms, powdered milk production expanded slightly to $X in 2022 estimated in export price. Overall, production enjoyed a notable increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 156%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Powdered Milk Exports

Exports from Estonia

In 2022, shipments abroad of powdered milk decreased by -3.1% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2014 with an increase of 178%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, powdered milk exports soared to $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 136%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for powdered milk exports from Estonia, with a 69% share of total exports. Moreover, powdered milk exports to Poland exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. The third position in this ranking was taken by Romania (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Poland stood at +61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+39.2% per year) and Romania (+51.5% per year).

In value terms, Poland ($X) remains the key foreign market for powdered milk exports from Estonia, comprising 67% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 21% share of total exports. It was followed by Romania, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to Poland amounted to +58.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+44.2% per year) and Romania (+92.3% per year).

Export Prices by Country

The average powdered milk export price stood at $X per ton in 2022, increasing by 19% against the previous year. Overall, the export price enjoyed slight growth. The most prominent rate of growth was recorded in 2013 an increase of 37%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Finland ($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 Romania (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Estonia

In 2022, supplies from abroad of powdered milk decreased by -20.5% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 202% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced notably in the following year.

In value terms, powdered milk imports totaled $X in 2022. Overall, imports, however, showed a mild expansion. The pace of growth was the most pronounced in 2013 when imports increased by 38%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Denmark (X tons) constituted the largest powdered milk supplier to Estonia, accounting for a 74% share of total imports. Moreover, powdered milk imports from Denmark exceeded the figures recorded by the second-largest supplier, Finland (X tons), ninefold. The third position in this ranking was held by Lithuania (X tons), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark stood at +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+16.0% per year) and Lithuania (-8.5% per year).

In value terms, Finland ($X), Denmark ($X) and Lithuania ($X) appeared to be the largest powdered milk suppliers to Estonia, together comprising 63% of total imports.

Finland, with a CAGR of +18.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, surging by 26% against the previous year. In general, the import price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform