Latvia: Hop Market 2025

Hop Market Size in Latvia

The Latvian hop market rose significantly to $X in 2022, surging by 5% against the previous year. In general, consumption, however, recorded a slight contraction. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Hop Production in Latvia

In value terms, hop production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 6.4%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The average yield of hops in Latvia amounted to less than X kg per ha in 2022, therefore, remained relatively stable against the previous year's figure. Overall, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of hops were harvested in Latvia; flattening at 2021. In general, the harvested area continues to indicate a relatively flat trend pattern.

Hop Exports

Exports from Latvia

In 2022, overseas shipments of hops increased by 15% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 5,686% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, hop exports skyrocketed to $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,592% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for hop exports from Latvia, with a 77% share of total exports. Moreover, hop exports to Belgium exceeded the volume sent to the second major destination, Denmark (X tons), fivefold. The Netherlands (X kg) ranked third in terms of total exports with a 3.2% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Belgium stood at +205.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-40.3% per year) and the Netherlands (-57.9% per year).

In value terms, Belgium ($X) emerged as the key foreign market for hops exports from Latvia, comprising 76% of total exports. The second position in the ranking was held by Denmark ($X), with a 20% share of total exports. It was followed by the Netherlands, with a 2.3% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Belgium stood at +268.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-32.7% per year) and the Netherlands (-62.2% per year).

Export Prices by Country

The average hop export price stood at $X per ton in 2022, with an increase of 5.2% against the previous year. Overall, the export price posted prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 113% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+37.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hop Imports

Imports into Latvia

In 2022, imports of hops into Latvia skyrocketed to X tons, growing by 35% against the previous year. Over the period under review, imports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2020 when imports increased by 83% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, hop imports soared to $X in 2022. In general, imports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest hop supplier to Latvia, with a 48% share of total imports. Moreover, hop imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+57.5% per year) and the Czech Republic (-5.3% per year).

In value terms, the largest hop suppliers to Latvia were Germany ($X), Belgium ($X) and the Czech Republic ($X), with a combined 82% share of total imports.

Belgium, with a CAGR of +42.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 hop import price amounted to $X per ton, picking up by 22% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hop import price decreased by -15.2% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 48% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average 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 Estonia ($X per ton), while the price for Lithuania ($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 Czech Republic (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform