Latvia: Plastic Packaging Market 2024

Plastic Packaging Market Size in Latvia

In 2022, the Latvian plastic packaging market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Plastic packaging consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Plastic Packaging Production in Latvia

In value terms, plastic packaging production soared to $X in 2022 estimated in export price. Overall, production, however, showed a slight decline. Plastic packaging production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Plastic Packaging Exports

Exports from Latvia

In 2022, after four years of growth, there was significant decline in shipments abroad of plastic packaging, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at X tons in 2021, and then dropped rapidly in the following year.

In value terms, plastic packaging exports shrank sharply to $X in 2022. Over the period under review, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then dropped notably in the following year.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Sweden (X tons) were the main destinations of plastic packaging exports from Latvia, with a combined X% share of total exports. Russia, the UK, France, Germany, Finland, the Netherlands, Poland and Norway lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic packaging exported from Latvia were Estonia ($X), Lithuania ($X) and Sweden ($X), together accounting for X% of total exports. The UK, Russia, France, the Netherlands, Germany, Finland, Poland and Norway lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the UK, with a CAGR of X%, recorded 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

In 2022, the average plastic packaging export price amounted to $X per ton, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined in the following year.

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

Plastic Packaging Imports

Imports into Latvia

In 2022, after two years of growth, there was significant decline in supplies from abroad of plastic packaging, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, plastic packaging imports dropped to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Lithuania (X tons), Estonia (X tons) and Poland (X tons) were the main suppliers of plastic packaging imports to Latvia, with a combined X% share of total imports. Germany, the Netherlands, Vietnam, Finland and Denmark lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic packaging suppliers to Latvia were Lithuania ($X), Estonia ($X) and Poland ($X), with a combined X% share of total imports. Germany, the Netherlands, Finland, Denmark and Vietnam lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Netherlands, with a CAGR of X%, 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

The average plastic packaging import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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

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

Source: IndexBox Platform