Report Update Nov 1, 2024

Latvia - Dry Vegetable - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Dry Vegetable Market 2024

Dry Vegetable Market Size in Latvia

In 2022, the Latvian dry vegetable market increased by 257% to $X, rising for the third consecutive year after two years of decline. Overall, consumption showed significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Dry Vegetable Production in Latvia

In value terms, dry vegetable production totaled $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. Dry vegetable production peaked in 2022 and is expected to retain growth in the near future.

Dry Vegetable Exports

Exports from Latvia

Dry vegetable exports from Latvia surged to X tons in 2022, with an increase of 31% compared with 2021 figures. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 62% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, dry vegetable exports skyrocketed to $X in 2022. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Poland (X tons) was the main destination for dry vegetable exports from Latvia, accounting for a 39% share of total exports. Moreover, dry vegetable exports to Poland exceeded the volume sent to the second major destination, Romania (X tons), threefold. Estonia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Poland amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+83.2% per year) and Estonia (+19.9% per year).

In value terms, Poland ($X) remains the key foreign market for dry vegetables exports from Latvia, comprising 38% of total exports. The second position in the ranking was held by Estonia ($X), with a 15% share of total exports. It was followed by Romania, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Poland stood at +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+23.7% per year) and Romania (+86.7% per year).

Export Prices by Country

The average dry vegetable export price stood at $X per ton in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Russia ($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 Hungary (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Vegetable Imports

Imports into Latvia

Dry vegetable imports into Latvia shrank to X tons in 2022, dropping by -5.4% compared with 2021 figures. Overall, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 61%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, dry vegetable imports expanded slightly to $X in 2022. Over the period under review, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2021 when imports increased by 64% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), India (X tons) and Poland (X tons) were the main suppliers of dry vegetable imports to Latvia, together accounting for 75% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +23.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Poland ($X) and India ($X) constituted the largest dry vegetable suppliers to Latvia, with a combined 76% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +25.5%, recorded 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 dry vegetable import price amounted to $X per ton, surging by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2019 an increase of 20% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 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 Germany ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the dry vegetable market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 469 - Vegetables, Dehydrated

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023