Latvia: Mixed Juices Market 2024

Mixed Juices Market Size in Latvia

In 2022, the Latvian mixed juices market increased by 58% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a pronounced descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Mixed Juices Production in Latvia

In value terms, mixed juices production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. Mixed juices production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Mixed Juices Exports

Exports from Latvia

After three years of growth, overseas shipments of mixtures of fruit and vegetable juices decreased by -18.4% to X tons in 2022. Overall, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 122%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, mixed juices exports reduced remarkably to $X in 2022. In general, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 141%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons) was the main destination for mixed juices exports from Latvia, accounting for a 66% share of total exports. Moreover, mixed juices exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), twofold. The third position in this ranking was held by the UK (X tons), with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+6.2% per year) and the UK (+8.5% per year).

In value terms, the largest markets for mixed juices exported from Latvia were Lithuania ($X), Estonia ($X) and the UK ($X), with a combined 90% share of total exports.

In terms of the main countries of destination, Lithuania, with a CAGR of +12.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mixed juices export price stood at $X per ton in 2022, shrinking by -6.3% against the previous year. Overall, the export price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 31%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Lithuania ($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 Russia (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.

Mixed Juices Imports

Imports into Latvia

In 2022, the amount of mixtures of fruit and vegetable juices imported into Latvia surged to X tons, growing by 31% compared with 2021 figures. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +111.3% against 2017 indices. The growth pace was the most rapid in 2020 when imports increased by 41% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, mixed juices imports expanded notably to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.9% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and Lithuania (X tons) were the main suppliers of mixed juices imports to Latvia, with a combined 64% share of total imports. Israel, Spain, Estonia, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +147.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed juices suppliers to Latvia were Lithuania ($X), Germany ($X) and Israel ($X), together comprising 59% of total imports. Poland, Estonia, Spain, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +114.8%, 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 mixed juices import price amounted to $X per ton, dropping by -12.7% against the previous year. Overall, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Israel ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform