Estonia: Potato Chips Market 2024

Potato Chips Market Size in Estonia

The Estonian potato chips market expanded rapidly to $X in 2022, picking up by 7.9% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +35.9% against 2020 indices. Potato chips consumption peaked in 2022 and is expected to retain growth in the near future.

Potato Chips Production in Estonia

In value terms, potato chips production shrank modestly to $X in 2022 estimated in export price. Overall, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 50%. As a result, production reached the peak level of $X, leveling off in the following year.

Potato Chips Exports

Exports from Estonia

In 2022, shipments abroad of potato chips was finally on the rise to reach X tons after three years of decline. In general, exports saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 101%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, potato chips exports skyrocketed to $X in 2022. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 92%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Japan (X tons), Finland (X tons) and Saudi Arabia (X tons) were the main destinations of potato chips exports from Estonia, with a combined 56% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +585.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Finland ($X) and Saudi Arabia ($X) were the largest markets for potato chips exported from Estonia worldwide, with a combined 56% share of total exports.

Among the main countries of destination, Japan, with a CAGR of +609.9%, saw the highest rates of growth with regard to 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 potato chips export price stood at $X per ton in 2022, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2014 an increase of 18% 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 external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Poland ($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 the UK (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Chips Imports

Imports into Estonia

In 2022, imports of potato chips into Estonia soared to X tons, picking up by 24% against the previous year's figure. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +95.3% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, potato chips imports surged to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +35.0% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of potato chips to Estonia, accounting for a 57% share of total imports. Moreover, potato chips imports from Poland exceeded the figures recorded by the second-largest supplier, Latvia (X tons), fourfold. Belgium (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+3.9% per year) and Belgium (+28.0% per year).

In value terms, Poland ($X) constituted the largest supplier of potato chips to Estonia, comprising 50% of total imports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total imports. It was followed by Lithuania, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+42.7% per year) and Lithuania (-3.4% per year).

Import Prices by Country

The average potato chips import price stood at $X per ton in 2022, with a decrease of -2.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 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 Lithuania ($X per ton), while the price for Latvia ($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 (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform