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Latvia - Cheese - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Cheese Market 2024
Cheese Market Size in Latvia
In 2023, after four years of growth, there was significant decline in the Latvian cheese market, when its value decreased by X% to $X. Overall, the total consumption indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2017 indices. As a result, consumption attained the peak level of $X, and then declined in the following year.
Cheese Production in Latvia
In value terms, cheese production reduced dramatically to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then declined rapidly in the following year.
Cheese Exports
Exports from Latvia
In 2023, overseas shipments of cheese increased by X% to X tons, rising for the ninth year in a row after two years of decline. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2023 and are likely to see steady growth in years to come.
In value terms, cheese exports fell to $X in 2023. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2022, and then fell modestly in the following year.
Exports by Country
Germany (X tons) was the main destination for cheese exports from Latvia, with a X% share of total exports. Moreover, cheese exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), fivefold. Estonia (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Estonia (X% per year).
In value terms, Germany ($X) remains the key foreign market for cheese exports from Latvia, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Estonia, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Estonia (X% per year).
Export Prices by Country
The average cheese export price stood at $X per ton in 2023, waning by X% against the previous year. In general, export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cheese export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped remarkably in the following year.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.
From 2012 to 2023, 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.
Cheese Imports
Imports into Latvia
In 2023, imports of cheese into Latvia rose remarkably to X tons, growing by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are likely to see gradual growth in the near future.
In value terms, cheese imports rose remarkably to $X in 2023. In general, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.
Imports by Country
Poland (X tons), Lithuania (X tons) and Estonia (X tons) were the main suppliers of cheese imports to Latvia, together comprising X% of total imports. Germany, the Netherlands, Ukraine and Italy lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest cheese suppliers to Latvia were Poland ($X), Lithuania ($X) and Estonia ($X), together accounting for X% of total imports. Germany, Italy, the Netherlands and Ukraine lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to 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
The average cheese import price stood at $X per ton in 2023, increasing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), 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 cheese 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 901 - Cheese from Whole Cow Milk
- FCL 904 - Cheese from Skimmed Cow Milk
- FCL 905 - Whey Cheese
- FCL 907 - Processed Cheese
- FCL 955 - Cheese of Buffalo Milk
- FCL 984 - Cheese of Sheep Milk
- FCL 1021 - Cheese of Goat 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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