Estonia: Processed Meat Market 2024

Processed Meat Market Size in Estonia

The Estonian processed meat market contracted sharply to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, showed tangible growth. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Processed Meat Production in Estonia

In value terms, processed meat production shrank markedly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X, and then declined remarkably in the following year.

Processed Meat Exports

Exports from Estonia

In 2022, exports of processed meat from Estonia skyrocketed to X tons, increasing by X% on 2021. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed meat exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Latvia (X tons) was the main destination for processed meat exports from Estonia, accounting for a X% share of total exports. Moreover, processed meat exports to Latvia exceeded the volume sent to the second major destination, Lithuania (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Latvia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Finland (X% per year).

In value terms, Latvia ($X) remains the key foreign market for processed meat exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Latvia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Lithuania (X% per year).

Export Prices by Country

The average processed meat export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, processed meat export price increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2013 an increase of X%. The export price peaked at $X per ton in 2021, and then fell in the following year.

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 Finland ($X per ton), while the average price for exports to Lithuania ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into Estonia

In 2022, approx. X tons of processed meat were imported into Estonia; jumping by X% against the previous year's figure. Overall, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed meat imports skyrocketed to $X in 2022. Over the period under review, imports saw a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Latvia (X tons) constituted the largest supplier of processed meat to Estonia, accounting for a X% share of total imports. Moreover, processed meat imports from Latvia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Poland (X% per year).

In value terms, Latvia ($X), Lithuania ($X) and Poland ($X) constituted the largest processed meat suppliers to Estonia, together accounting for X% of total imports.

Latvia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 processed meat import price amounted to $X per ton, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform