Estonia: Malt Market 2024

Malt Market Size in Estonia

For the fifth year in a row, the Estonian malt market recorded growth in sales value, which increased by 19% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Malt Production in Estonia

In value terms, malt production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 44%. Malt production peaked at $X in 2021, and then fell slightly in the following year.

Malt Exports

Exports from Estonia

In 2022, after ten years of growth, there was decline in shipments abroad of malt, when their volume decreased by -1.1% to X tons. In general, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 37%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted modestly in the following year.

In value terms, malt exports stood at $X in 2022. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2021 with an increase of 53%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Poland (X tons), Russia (X tons) and Finland (X tons) were the main destinations of malt exports from Estonia, together accounting for 64% of total exports. Latvia, Sweden, Bulgaria, Denmark and Lithuania lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +145.8%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Finland ($X) constituted the largest markets for malt exported from Estonia worldwide, with a combined 65% share of total exports. Latvia, Sweden, Bulgaria, Denmark and Lithuania lagged somewhat behind, together comprising a further 33%.

Denmark, with a CAGR of +153.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average malt export price stood at $X per ton in 2022, with an increase of 1.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2021 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Lithuania ($X per ton) and Poland ($X per ton), while the average price for exports to Latvia ($X per ton) and Sweden ($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 (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Malt Imports

Imports into Estonia

In 2022, supplies from abroad of malt increased by 3.5% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 8.3%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, malt imports skyrocketed to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of malt to Estonia, accounting for a 67% share of total imports. Moreover, malt imports from Lithuania exceeded the figures recorded by the second-largest supplier, Finland (X tons), fivefold. The UK (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-4.5% per year) and the UK (+155.5% per year).

In value terms, Lithuania ($X) constituted the largest supplier of malt to Estonia, comprising 61% of total imports. The second position in the ranking was taken by the UK ($X), with a 14% share of total imports. It was followed by Finland, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Lithuania totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+110.0% per year) and Finland (-5.1% per year).

Import Prices by Country

The average malt import price stood at $X per ton in 2022, surging by 22% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 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 the UK ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform