Estonia: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Estonia

For the third consecutive year, the Estonian sugary soft drink market recorded growth in sales value, which increased by 2.3% to $X in 2022. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Sugary Soft Drink Production in Estonia

In value terms, sugary soft drink production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 23% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to continue growth in the near future.

Sugary Soft Drink Exports

Exports from Estonia

In 2022, overseas shipments of sugary soft drinks increased by 62% to X litres, rising for the fifth consecutive year after two years of decline. Overall, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugary soft drink exports skyrocketed to $X in 2022. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 76% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Latvia (X litres), Lithuania (X litres) and Finland (X litres) were the main destinations of sugary soft drink exports from Estonia, together accounting for 95% of total exports. Germany and Sweden lagged somewhat behind, together accounting for a further 2.5%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +37.2%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) remains the key foreign market for sugary soft drinks exports from Estonia, comprising 47% of total exports. The second position in the ranking was held by Latvia ($X), with a 22% share of total exports. It was followed by Lithuania, with a 22% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland amounted to +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+3.2% per year) and Lithuania (+9.0% per year).

Export Prices by Country

In 2022, the average sugary soft drink export price amounted to $X per litre, with a decrease of -26.1% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 2018 an increase of 23%. Over the period under review, the average export prices attained the peak figure at $X per litre in 2021, and then contracted rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per litre), while the average price for exports to Latvia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Estonia

After four years of growth, overseas purchases of sugary soft drinks decreased by -3.5% to X litres in 2022. Overall, imports, however, posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year. Over the period under review, imports reached the maximum at X litres in 2021, and then dropped modestly in the following year.

In value terms, sugary soft drink imports rose modestly to $X in 2022. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Lithuania (X litres), Latvia (X litres) and Poland (X litres) were the main suppliers of sugary soft drink imports to Estonia, together accounting for 69% of total imports. Sweden, Germany, the UK, Finland, the Czech Republic, the United States, Austria and Russia lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +60.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), the UK ($X) and Latvia ($X) constituted the largest sugary soft drink suppliers to Estonia, together accounting for 40% of total imports. Sweden, Poland, Austria, Finland, Germany, the Czech Republic, the United States and Russia lagged somewhat behind, together comprising a further 46%.

The Czech Republic, with a CAGR of +58.2%, 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 sugary soft drink import price amounted to $X per litre, with an increase of 6.6% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugary soft drink import price increased by +11.6% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 60% against the previous year. Over the period under review, average import prices attained the maximum at $X per litre in 2019; however, from 2020 to 2022, import prices remained at a 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 Austria ($X per litre), while the price for Lithuania ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform