Latvia: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Latvia

In 2022, the Latvian market for candies, sweets, and nonchocolate confectionery increased by 26% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw a relatively flat trend pattern. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Latvia

In value terms, candy, sweets, and nonchocolate confectionery production surged to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep reduction. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Latvia

In 2022, candy, sweets, and nonchocolate confectionery exports from Latvia contracted to X tons, reducing by -2.4% against the previous year. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 25%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports amounted to $X in 2022. In general, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.2% against 2015 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Finland (X tons) were the main destinations of candy, sweets, and nonchocolate confectionery exports from Latvia, together accounting for 82% of total exports. Poland, Germany, Russia, Sweden and the UK lagged somewhat behind, together accounting for a further 9.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +84.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for candy, sweets, and nonchocolate confectionery exported from Latvia were Lithuania ($X), Estonia ($X) and Finland ($X), with a combined 77% share of total exports. Poland, Germany, Russia, Sweden and the UK lagged somewhat behind, together accounting for a further 13%.

Sweden, with a CAGR of +80.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, with an increase of 3.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2013 when the average export price increased by 12% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

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 ($X per ton), while the average price for exports to Finland ($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 (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Latvia

For the fourth consecutive year, Latvia recorded growth in purchases abroad of candies, sweets, and nonchocolate confectionery, which increased by 5.2% to X tons in 2022. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, candy, sweets, and nonchocolate confectionery imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 11%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Lithuania (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of candy, sweets, and nonchocolate confectionery imports to Latvia, with a combined 51% share of total imports. Estonia, the Czech Republic, Ukraine, Spain, the Netherlands, Belgium and Moldova lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +25.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Poland ($X) and Germany ($X) constituted the largest candy, sweets, and nonchocolate confectionery suppliers to Latvia, together comprising 59% of total imports. Estonia, the Czech Republic, the Netherlands, Spain, Ukraine, Belgium and Moldova lagged somewhat behind, together accounting for a further 31%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +27.3%, 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 import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, picking up by 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2017 when the average import price increased by 5.7%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform