Latvia: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Latvia

In 2022, the Latvian market for condensed or evaporated milk (sweetened) decreased by -8.4% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Latvia

In value terms, sweetened condensed and evaporated milk production fell to $X in 2022 estimated in export price. In general, production showed a slight reduction. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Latvia

In 2022, the amount of condensed or evaporated milk (sweetened) exported from Latvia soared to X tons, picking up by 41% compared with the previous year. Overall, exports recorded strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 51% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Estonia (X tons) and the Czech Republic (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Latvia, together comprising 98% 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 the Czech Republic (with a CAGR of +305.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweetened condensed and evaporated milk exported from Latvia were Lithuania ($X), Estonia ($X) and the Czech Republic ($X), with a combined 97% share of total exports.

The Czech Republic, with a CAGR of +253.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 export price for condensed or evaporated milk (sweetened) amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 20% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Lithuania ($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 Lithuania (-0.0%), while the prices for the other major destinations experienced a decline.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Latvia

Sweetened condensed and evaporated milk imports into Latvia fell notably to X tons in 2022, which is down by -18.7% against the year before. In general, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -23.5% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 63%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk imports fell to $X in 2022. The total import value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 62%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Lithuania (X tons), Germany (X tons) and Estonia (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Latvia, together accounting for 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +87.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Latvia, comprising 51% of total imports. The second position in the ranking was taken by Germany ($X), with a 23% share of total imports. It was followed by Estonia, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+85.2% per year) and Estonia (+1.0% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, increasing by 14% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 20%. The import price peaked at $X per ton in 2012; however, from 2013 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 Poland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform