Latvia: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Latvia

The Latvian market for crispbread, rusks and toasted bread soared to $X in 2022, picking up by 93% against the previous year. Overall, consumption posted resilient growth. Crispbread, rusk and toasted bread consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Crispbread, Rusks and Toasted Bread in Latvia

In value terms, crispbread, rusk and toasted bread production skyrocketed to $X in 2022 estimated in export price. Overall, production saw buoyant growth. Crispbread, rusk and toasted bread production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Crispbread, Rusks and Toasted Bread

Exports from Latvia

Crispbread, rusk and toasted bread exports from Latvia reached X tons in 2022, picking up by 4.8% compared with 2021. Overall, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -2.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, crispbread, rusk and toasted bread exports expanded remarkably to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 39%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Denmark (X tons), Estonia (X tons) and Lithuania (X tons) were the main destinations of crispbread, rusk and toasted bread exports from Latvia, with a combined 81% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +66.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crispbread, rusk and toasted bread exported from Latvia were Denmark ($X), Estonia ($X) and Lithuania ($X), together comprising 83% of total exports. Norway, Poland, Israel, Ukraine and Germany lagged somewhat behind, together accounting for a further 12%.

Norway, with a CAGR of +73.6%, 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 crispbread, rusks and toasted bread amounted to $X per ton, picking up by 9.2% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2018 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Ukraine ($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 Norway (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports into Latvia

In 2022, the amount of crispbread, rusks and toasted bread imported into Latvia totaled X tons, rising by 3.5% compared with the previous year. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume 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, imports decreased by -5.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 36% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, crispbread, rusk and toasted bread imports amounted to $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest crispbread, rusk and toasted bread supplier to Latvia, accounting for a 31% share of total imports. Moreover, crispbread, rusk and toasted bread imports from Ukraine exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Estonia (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine stood at +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.3% per year) and Estonia (+9.5% per year).

In value terms, the largest crispbread, rusk and toasted bread suppliers to Latvia were Germany ($X), Ukraine ($X) and Finland ($X), with a combined 60% share of total imports. Lithuania, Estonia, Bulgaria, Russia, Italy and Poland lagged somewhat behind, together accounting for a further 34%.

Among the main suppliers, Bulgaria, with a CAGR of +50.3%, 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 import price for crispbread, rusks and toasted bread amounted to $X per ton, growing by 6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 11%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform