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Latvia - Tea - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Tea Market 2024
Tea Market Size in Latvia
The Latvian tea market shrank rapidly to $X in 2022, which is down by X% against the previous year. Overall, consumption recorded a abrupt decrease. Tea consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.
Tea Production in Latvia
In value terms, tea production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production showed a dramatic descent. Over the period under review, production reached the peak level at $X in 2021, and then declined dramatically in the following year.
The average yield of tea in Latvia was estimated at less than X kg per ha in 2022, remaining constant against 2021 figures. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, approx. less than X ha of tea were harvested in Latvia; flattening at the previous year's figure. Overall, the harvested area showed a relatively flat trend pattern.
Tea Exports
Exports from Latvia
In 2023, overseas shipments of tea decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.
In value terms, tea exports dropped to $X in 2023. Over the period under review, exports, however, saw a noticeable expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.
Exports by Country
Lithuania (X tons), Estonia (X tons) and Poland (X tons) were the main destinations of tea exports from Latvia, together comprising X% of total exports. Russia, Moldova, Germany and Cyprus lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Moldova (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Lithuania ($X), Estonia ($X) and Poland ($X) were the largest markets for tea exported from Latvia worldwide, together accounting for X% of total exports. Russia, Moldova, Germany and Cyprus lagged somewhat behind, together comprising a further X%.
Moldova, with a CAGR of X%, recorded 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 tea export price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked in 2023 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Poland ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.
Tea Imports
Imports into Latvia
In 2023, overseas purchases of tea were finally on the rise to reach X tons after two years of decline. Overall, imports, however, recorded a abrupt slump. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.
In value terms, tea imports soared to $X in 2023. Over the period under review, imports, however, recorded a abrupt setback. Imports peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, Poland (X tons) constituted the largest tea supplier to Latvia, accounting for a X% share of total imports. Moreover, tea imports from Poland exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), threefold. Lithuania (X tons) ranked third in terms of total imports with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (X% per year) and Lithuania (X% per year).
In value terms, Poland ($X) constituted the largest supplier of tea to Latvia, comprising X% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a X% share of total imports. It was followed by Lithuania, with an X% share.
From 2012 to 2023, the average annual growth rate of value from Poland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (X% per year) and Lithuania (X% per year).
Import Prices by Country
In 2023, the average tea import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, import price indicated a noticeable 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. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then shrank notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($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 India (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 tea 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 667 - Tea
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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