Estonia: Footwear Treatments Market 2024

Footwear Treatments Market Size in Estonia

In 2022, the Estonian footwear treatments market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, continues to indicate a drastic downturn. Footwear treatments consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Footwear Treatments Production in Estonia

In value terms, footwear treatments production expanded to $X in 2022 estimated in export price. Overall, production showed a pronounced decrease. The growth pace was the most rapid in 2018 when the production volume increased by 78% against the previous year. Footwear treatments production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Footwear Treatments Exports

Exports from Estonia

In 2022, after three years of decline, there was significant growth in overseas shipments of polishes and creams for footwear or leather, when their volume increased by 44% to X tons. Over the period under review, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 113%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

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

Exports by Country

Russia (X tons) was the main destination for footwear treatments exports from Estonia, accounting for a 51% share of total exports. Moreover, footwear treatments exports to Russia exceeded the volume sent to the second major destination, Finland (X tons), twofold. The third position in this ranking was held by Lithuania (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+17.2% per year) and Lithuania (-16.0% per year).

In value terms, Finland ($X) remains the key foreign market for polishes and creams for footwear or leather exports from Estonia, comprising 43% of total exports. The second position in the ranking was taken by Russia ($X), with a 19% share of total exports. It was followed by Lithuania, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Finland totaled +36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-6.3% per year) and Lithuania (-7.5% per year).

Export Prices by Country

The average footwear treatments export price stood at $X per ton in 2022, with an increase of 16% against the previous year. Over the period under review, the export price posted a resilient expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 74% 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 the near future.

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 Kazakhstan ($X per ton), while the average price for exports to Uzbekistan ($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 Latvia (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Treatments Imports

Imports into Estonia

In 2022, purchases abroad of polishes and creams for footwear or leather increased by 47% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a abrupt setback. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, footwear treatments imports soared to $X in 2022. Overall, imports, however, saw a noticeable descent. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of footwear treatments imports to Estonia, together comprising 70% of total imports. China, Finland, the UK and Poland lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +21.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of polishes and creams for footwear or leather to Estonia, comprising 42% of total imports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total imports. It was followed by Finland, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1.8% per year) and Finland (+23.1% per year).

Import Prices by Country

In 2022, the average footwear treatments import price amounted to $X per ton, shrinking by -6.3% against the previous year. Over the period under review, the import price, however, posted resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 64% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform