Latvia: Market for Casein Glues And Caseinates And Other Casein Derivatives 2024

Market Size for Casein Glues And Caseinates And Other Casein Derivatives in Latvia

In 2022, the Latvian casein glue and caseinates market increased by 11% to $X, rising for the third consecutive year after three years of decline. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +82.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Casein Glues And Caseinates And Other Casein Derivatives in Latvia

In value terms, casein glue and caseinates production fell slightly to $X in 2022 estimated in export price. Overall, production saw a dramatic decrease. The pace of growth appeared the most rapid in 2018 with an increase of 13%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Casein Glues And Caseinates And Other Casein Derivatives

Exports from Latvia

In 2022, approx. X tons of casein glues and caseinates and other casein derivatives were exported from Latvia; dropping by -96% against 2021 figures. In general, exports faced a dramatic descent. The pace of growth was the most pronounced in 2021 when exports increased by 151% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, casein glue and caseinates exports fell notably to $X in 2022. Overall, exports continue to indicate a significant decrease. The pace of growth was the most pronounced in 2021 when exports increased by 153% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for casein glue and caseinates exports from Latvia, accounting for a 86% share of total exports. Moreover, casein glue and caseinates exports to Brazil exceeded the volume sent to the second major destination, Lithuania (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled -14.9%.

In value terms, Brazil ($X) emerged as the key foreign market for casein glues and caseinates and other casein derivatives exports from Latvia, comprising 86% of total exports. The second position in the ranking was held by Lithuania ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to -11.7%.

Export Prices by Country

In 2022, the average casein glue and caseinates export price amounted to $X per ton, with an increase of 8.3% against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2016 an increase of 23% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Lithuania totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Casein Glues And Caseinates And Other Casein Derivatives

Imports into Latvia

In 2022, after four years of growth, there was significant decline in overseas purchases of casein glues and caseinates and other casein derivatives, when their volume decreased by -94.1% to X tons. Over the period under review, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 344% against the previous year. As a result, imports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, casein glue and caseinates imports dropped remarkably to $X in 2022. In general, imports saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 392% against the previous year. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest casein glue and caseinates supplier to Latvia, with a 64% share of total imports. Moreover, casein glue and caseinates imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fivefold. Lithuania (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-14.4% per year) and Lithuania (-15.4% per year).

In value terms, Germany ($X) constituted the largest supplier of casein glues and caseinates and other casein derivatives to Latvia, comprising 48% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 17% share of total imports. It was followed by Hungary, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+20.7% per year) and Hungary (-6.4% per year).

Import Prices by Country

In 2022, the average casein glue and caseinates import price amounted to $X per ton, picking up by 4.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 29%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+27.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform