Latvia: Soap Market 2024

Soap Market Size in Latvia

The Latvian soap market rose notably to $X in 2022, surging by X% against the previous year. In general, consumption, however, continues to indicate a deep setback. Soap consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Soap Production in Latvia

In value terms, soap production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible slump. Soap production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Soap Exports

Exports from Latvia

Soap exports from Latvia rose significantly to X tons in 2022, increasing by X% on the year before. Over the period under review, exports posted a buoyant increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, soap exports declined to $X in 2022. Overall, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Russia (X tons) were the main destinations of soap exports from Latvia, with a combined X% share of total exports. China, Poland, Germany, Spain, Romania and Ukraine 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 Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap exported from Latvia were Russia ($X), Lithuania ($X) and Estonia ($X), with a combined X% share of total exports. China, Romania, Germany, Poland, Spain and Ukraine lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Spain, with a CAGR of X%, recorded 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 soap export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Poland ($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.

Soap Imports

Imports into Latvia

In 2022, overseas purchases of soap decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, total imports indicated a noticeable 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 most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, soap imports dropped to $X in 2022. Over the period under review, total imports indicated a tangible 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, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank modestly in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest soap supplier to Latvia, accounting for a X% share of total imports. Moreover, soap imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Lithuania (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Lithuania (X% per year).

In value terms, the largest soap suppliers to Latvia were Poland ($X), Germany ($X) and Lithuania ($X), with a combined X% share of total imports. Russia, Estonia, Italy, Ukraine, the Czech Republic, the Netherlands, the UK, Turkey and Spain lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Spain, 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

In 2022, the average soap import price amounted to $X per ton, remaining stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 ($X per ton), while the price for Ukraine ($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 Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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