Latvia: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Latvia

After three years of growth, the Latvian market for powdered, condensed or evaporated milk decreased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Powdered, condensed or evaporated milk consumption peaked at $X in 2021, and then reduced in the following year.

Production of Powdered, Condensed Or Evaporated Milk in Latvia

In value terms, powdered, condensed or evaporated milk production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced slump. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Latvia

In 2022, shipments abroad of powdered, condensed or evaporated milk decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered, condensed or evaporated milk exports fell markedly to $X in 2022. Over the period under review, exports showed a deep setback. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons), Poland (X tons) and Lithuania (X tons) were the main destinations of powdered, condensed or evaporated milk exports from Latvia, together comprising X% of total exports. Denmark, Kazakhstan, Bulgaria, Romania, Belgium, the Netherlands and Germany lagged somewhat behind, together accounting for 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 Bulgaria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for powdered, condensed or evaporated milk exported from Latvia were Estonia ($X), Poland ($X) and Lithuania ($X), with a combined X% share of total exports. Denmark, Kazakhstan, Romania, Bulgaria, Belgium, the Netherlands and Germany lagged somewhat behind, together comprising a further X%.

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

In 2022, the average export price for powdered, condensed or evaporated milk amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Kazakhstan ($X per ton), while the average price for exports to Lithuania ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Latvia

In 2022, purchases abroad of powdered, condensed or evaporated milk decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume 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. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, powdered, condensed or evaporated milk imports shrank rapidly to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell remarkably in the following year.

Imports by Country

Lithuania (X tons), Germany (X tons) and Estonia (X tons) were the main suppliers of powdered, condensed or evaporated milk imports to Latvia, with a combined X% share of total imports. Poland and the Netherlands 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 Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Germany ($X) appeared to be the largest powdered, condensed or evaporated milk suppliers to Latvia, with a combined X% share of total imports. Poland and the Netherlands lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, 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 import price for powdered, condensed or evaporated milk stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price 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. Based on 2022 figures, powdered, condensed or evaporated milk import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform