Latvia: Artificial Guts Market 2024

Artificial Guts Market Size in Latvia

The Latvian artificial guts market stood at $X in 2022, surging by 10% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Artificial Guts Production in Latvia

In value terms, artificial guts production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 49% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Artificial Guts Exports

Exports from Latvia

In 2022, shipments abroad of artificial guts (sausage skins) increased by 39% to X tons, rising for the second consecutive year after seven years of decline. Over the period under review, exports, however, saw a deep setback. The growth pace was the most rapid in 2013 when exports increased by 43% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, artificial guts exports surged to $X in 2022. In general, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for artificial guts exports from Latvia, accounting for a 52% share of total exports. Moreover, artificial guts exports to Lithuania exceeded the volume sent to the second major destination, Belarus (X tons), threefold. Estonia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania totaled -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+22.3% per year) and Estonia (-8.9% per year).

In value terms, the largest markets for artificial guts exported from Latvia were Lithuania ($X), Belarus ($X) and Russia ($X), together comprising 76% of total exports. Estonia and Australia lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, Australia, with a CAGR of +3,729.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average artificial guts export price stood at $X per ton in 2022, leveling off at the previous year. In general, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2020 an increase of 34% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Australia ($X per ton), while the average price for exports to Lithuania ($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 Australia (+49.8%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Guts Imports

Imports into Latvia

Artificial guts imports into Latvia surged to X tons in 2022, rising by 58% compared with the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, artificial guts imports soared to $X in 2022. Overall, imports, however, showed a noticeable setback. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Estonia (X tons), Spain (X tons) and Lithuania (X tons) were the main suppliers of artificial guts imports to Latvia, with a combined 64% share of total imports. Germany, the Czech Republic, Poland, France and Denmark lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +6.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Estonia ($X) and Lithuania ($X) appeared to be the largest artificial guts suppliers to Latvia, together accounting for 60% of total imports. Poland, Spain, Germany, France and Denmark lagged somewhat behind, together comprising a further 39%.

France, with a CAGR of +3.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average artificial guts import price stood at $X per ton in 2022, jumping by 27% against the previous year. In general, the import price, however, saw a pronounced downturn. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform