Estonia: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Estonia

In 2022, the Estonian preparations for animal feeding market decreased by -17.9% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Preparations for animal feeding consumption peaked at $X in 2021, and then contracted significantly in the following year.

Production of Preparations Used In Animal Feeding in Estonia

In value terms, preparations for animal feeding production contracted remarkably to $X in 2022 estimated in export price. In general, the total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Preparations for animal feeding production peaked at $X in 2021, and then shrank sharply in the following year.

Exports of Preparations Used In Animal Feeding

Exports from Estonia

In 2022, approx. X tons of preparations used in animal feeding were exported from Estonia; rising by 38% compared with the previous year. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 125%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, preparations for animal feeding exports surged to $X in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 55% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Lithuania (X tons), Latvia (X tons) and Finland (X tons) were the main destinations of preparations for animal feeding exports from Estonia, together comprising 70% of total exports. The Czech Republic, Russia, Sweden and Belarus lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +362.9%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Russia ($X) and Latvia ($X) constituted the largest markets for preparations for animal feeding exported from Estonia worldwide, with a combined 58% share of total exports. The Czech Republic, Finland, Belarus and Sweden lagged somewhat behind, together comprising a further 41%.

The Czech Republic, with a CAGR of +359.4%, saw 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

In 2022, the average preparations for animal feeding export price amounted to $X per ton, surging by 11% against the previous year. In general, the export price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2018 an increase of 63%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Russia ($X per ton), while the average price for exports to Latvia ($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 Sweden (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Estonia

In 2022, overseas purchases of preparations used in animal feeding decreased by -4.4% to X tons, falling for the third consecutive year after two years of growth. In general, imports recorded a mild contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, preparations for animal feeding imports expanded sharply to $X in 2022. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +91.3% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 24%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Latvia (X tons) constituted the largest supplier of preparations for animal feeding to Estonia, with a 37% share of total imports. Moreover, preparations for animal feeding imports from Latvia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.2% per year) and Poland (-2.1% per year).

In value terms, Germany ($X), France ($X) and Latvia ($X) appeared to be the largest preparations for animal feeding suppliers to Estonia, together accounting for 38% of total imports. Poland, the Netherlands, Lithuania, Hungary, Finland and Denmark lagged somewhat behind, together accounting for a further 39%.

Hungary, with a CAGR of +43.8%, recorded 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 preparations for animal feeding import price amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding import price increased by +99.7% against 2015 indices. The pace of growth was the most pronounced in 2021 an increase of 16% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while the price for Latvia ($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 (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform