Latvia: Casein And Caseinates Market 2024

Casein And Caseinates Market Size in Latvia

In 2022, the Latvian casein and caseinates market increased by 14% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, saw a mild setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Casein And Caseinates Production in Latvia

In value terms, casein and caseinates production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 5,595%. Casein and caseinates production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Casein And Caseinates Exports

Exports from Latvia

In 2022, after two years of growth, there was significant decline in shipments abroad of casein and caseinates, when their volume decreased by -6.8% to X tons. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by 2,912,080%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, casein and caseinates exports skyrocketed to $X in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 766,343% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X tons) was the main destination for casein and caseinates exports from Latvia, with a 84% share of total exports. Moreover, casein and caseinates exports to Germany exceeded the volume sent to the second major destination, Nigeria (X tons), more than tenfold. Ethiopia (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+106.0% per year) and Ethiopia (0.0% per year).

In value terms, Germany ($X) remains the key foreign market for casein and caseinates exports from Latvia, comprising 81% of total exports. The second position in the ranking was held by Nigeria ($X), with a 9.8% share of total exports. It was followed by Ethiopia, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+156.7% per year) and Ethiopia (0.0% per year).

Export Prices by Country

The average casein and caseinates export price stood at $X per ton in 2022, surging by 27% against the previous year. In general, the export price, however, recorded a deep slump. 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 stood at a somewhat lower figure.

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 Ethiopia ($X per ton), while the average price for exports to Poland ($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 Nigeria (+24.6%), while the prices for the other major destinations experienced mixed trend patterns.

Casein And Caseinates Imports

Imports into Latvia

After two years of growth, overseas purchases of casein and caseinates decreased by -21.7% to X tons in 2022. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 101%. Imports peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, casein and caseinates imports declined to $X in 2022. Over the period under review, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 100%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Ukraine (X tons) and Belarus (X tons) were the main suppliers of casein and caseinates imports to Latvia, with a combined 99.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +18.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Ukraine ($X), Germany ($X) and Belarus ($X) appeared to be the largest casein and caseinates suppliers to Latvia, together comprising 100% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +10.0%, saw the highest growth rate of the value of imports, 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 casein and caseinates import price amounted to $X per ton, increasing by 18% against the previous year. Over the period under review, the import price, however, showed a mild decline. The pace of growth appeared the most rapid in 2017 an increase of 22%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 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 Belarus ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform