Latvia: Bread And Bakery Market 2024

Bread And Bakery Market Size in Latvia

The Latvian bread and bakery market expanded notably to $X in 2022, rising by X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Bread And Bakery Production in Latvia

In value terms, bread and bakery production rose sharply to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Bread And Bakery Exports

Exports from Latvia

In 2022, shipments abroad of bread and bakery increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, total exports indicated resilient growth from 2012 to 2022: its volume 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 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, bread and bakery exports skyrocketed to $X in 2022. Over the period under review, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Germany (X tons) were the main destinations of bread and bakery exports from Latvia, together accounting for X% 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 Estonia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Germany ($X) were the largest markets for bread and bakery exported from Latvia worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average bread and bakery export price amounted to $X per ton, surging by X% 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 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Lithuania ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bread And Bakery Imports

Imports into Latvia

For the eleventh consecutive year, Latvia recorded growth in overseas purchases of bread and bakery, which increased by X% to X tons in 2022. Overall, imports saw a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bread and bakery imports skyrocketed to $X in 2022. Over the period under review, imports recorded a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of bread and bakery to Latvia, with a X% share of total imports. Moreover, bread and bakery imports from Lithuania exceeded the figures recorded by the second-largest supplier, Estonia (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with a X% share.

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

In value terms, Lithuania ($X) constituted the largest supplier of bread and bakery to Latvia, comprising X% of total imports. The second position in the ranking was held by Estonia ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

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

Import Prices by Country

In 2022, the average bread and bakery import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform