Report Update Nov 1, 2024

Latvia - Tallow - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Tallow Market 2024

Tallow Market Size in Latvia

In 2022, the Latvian tallow market increased by 14% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, showed a pronounced downturn. Tallow consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Tallow Production in Latvia

In value terms, tallow production declined slightly to $X in 2022 estimated in export price. In general, production showed a deep slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 40% against the previous year. Tallow production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tallow Exports

Exports from Latvia

After three years of growth, shipments abroad of tallow decreased by -22.7% to X tons in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 436%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tallow exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2017 when exports increased by 274%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Poland (X tons) was the main destination for tallow exports from Latvia, accounting for a 97% share of total exports. It was followed by Lithuania (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland totaled +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (-24.5% per year) and Estonia (-26.5% per year).

In value terms, Poland ($X) remains the key foreign market for tallow exports from Latvia, comprising 97% of total exports. The second position in the ranking was taken by Estonia ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland amounted to +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-20.4% per year) and Lithuania (-28.4% per year).

Export Prices by Country

The average tallow export price stood at $X per ton in 2022, picking up by 67% against the previous year. Overall, the export price enjoyed modest growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania ($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 Estonia (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Tallow Imports

Imports into Latvia

In 2022, purchases abroad of tallow decreased by -74.9% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports faced a dramatic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 823,109% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tallow imports dropped rapidly to $X in 2022. In general, imports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2015 with an increase of 936,871%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Lithuania (X tons) was the main supplier of tallow to Latvia, accounting for a 95% share of total imports. Moreover, tallow imports from Lithuania exceeded the figures recorded by the second-largest supplier, the Czech Republic (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Lithuania totaled -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+6.6% per year) and Poland (-58.2% per year).

In value terms, Lithuania ($X) constituted the largest supplier of tallow to Latvia, comprising 89% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 5.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Lithuania stood at -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-20.3% per year) and Poland (-51.9% per year).

Import Prices by Country

In 2022, the average tallow import price amounted to $X per ton, rising by 44% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Lithuania ($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 UK (+37.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the tallow market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1225 - Tallow

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023