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Latvia - Butter - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Butter Market 2024
Butter Market Size in Latvia
The Latvian butter market surged to $X in 2022, rising by X% against the previous year. In general, the total consumption indicated a resilient expansion 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. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.
Butter Production in Latvia
In value terms, butter production reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2013 with an increase of X%. Butter production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.
Butter Exports
Exports from Latvia
In 2022, the amount of butter exported from Latvia surged to X tons, growing by X% on 2021. In general, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.
In value terms, butter exports surged to $X in 2022. Overall, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Estonia (X tons) was the main destination for butter exports from Latvia, accounting for a X% share of total exports. Moreover, butter exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual growth rate of volume to Estonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Germany (X% per year).
In value terms, Estonia ($X) remains the key foreign market for butter exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Lithuania ($X), with a X% share of total exports. It was followed by Germany, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Estonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Germany (X% per year).
Export Prices by Country
The average butter export price stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in years to come.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the average price for exports to Estonia ($X per ton) and Poland ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Butter Imports
Imports into Latvia
In 2022, purchases abroad of butter decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.
In value terms, butter imports soared to $X in 2022. Over the period under review, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
Imports by Country
In 2022, Poland (X tons) constituted the largest supplier of butter to Latvia, with a X% share of total imports. Moreover, butter imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fivefold. Estonia (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2022, the average annual growth rate of volume from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Estonia (X% per year).
In value terms, Poland ($X) constituted the largest supplier of butter to Latvia, comprising X% of total imports. The second position in the ranking was held by Lithuania ($X), with a X% share of total imports. It was followed by Estonia, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Estonia (X% per year).
Import Prices by Country
In 2022, the average butter import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Lithuania ($X per ton) and Estonia ($X per ton), while the price for Finland ($X per ton) and Poland ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the butter 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 886 - Butter of Cow Milk
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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