Latvia: Plastic Bag Market 2024

Plastic Bag Market Size in Latvia

The Latvian plastic bag market rose remarkably to $X in 2022, picking up by 7.5% against the previous year. Over the period under review, consumption, however, showed a pronounced shrinkage. Plastic bag consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Plastic Bag Production in Latvia

In value terms, plastic bag production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable slump. Plastic bag production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Plastic Bag Exports

Exports from Latvia

After two years of growth, shipments abroad of plastic sacks and bags decreased by -12.4% to X tons in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 -5.7% against 2016 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 35% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, plastic bag exports dropped modestly to $X in 2022. Overall, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 45%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Sweden (X tons) were the main destinations of plastic bag exports from Latvia, together accounting for 71% of total exports. The UK, France, Russia and Norway lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +200.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic bag exported from Latvia were Sweden ($X), Lithuania ($X) and Estonia ($X), with a combined 65% share of total exports. The UK, France, Russia and Norway lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, France, with a CAGR of +176.7%, 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 bag export price amounted to $X per ton, picking up by 9% against the previous year. In general, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bag export price increased by +83.2% against 2016 indices. The growth pace was the most rapid in 2017 an increase of 28% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

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 the UK ($X per ton), while the average price for exports to Estonia ($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 Sweden (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Latvia

In 2022, supplies from abroad of plastic sacks and bags increased by 2.6% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 16% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, plastic bag imports shrank to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +49.6% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by 33% against the previous year. As a result, imports attained the peak of $X, and then shrank modestly in the following year.

Imports by Country

Lithuania (X tons), Poland (X tons) and Estonia (X tons) were the main suppliers of plastic bag imports to Latvia, with a combined 58% share of total imports. Germany, the Netherlands, Vietnam, Finland and Denmark lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +19.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Poland ($X) and Germany ($X) were the largest plastic bag suppliers to Latvia, with a combined 51% share of total imports. Estonia, the Netherlands, Vietnam, Finland and Denmark lagged somewhat behind, together accounting for a further 35%.

The Netherlands, with a CAGR of +22.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic bag import price stood at $X per ton in 2022, waning by -3.6% 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 25%. As a result, import price reached the peak level of $X per ton, and then shrank slightly in the following year.

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 ($X per ton), while the price for Vietnam ($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 (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform