Latvia - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSauce and Seasoning Price in Latvia - 2023
Contents:
- Sauce and Seasoning Price in Latvia (CIF) - 2023
- Sauce and Seasoning Price in Latvia (FOB) - 2023
- Sauce and Seasoning Imports in Latvia
- Sauce and Seasoning Exports in Latvia
Sauce and Seasoning Price in Latvia (CIF) - 2023
The average sauce and seasoning import price stood at $3,476 per ton in September 2023, surging by 3.2% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +2.5%. The pace of growth was the most pronounced in May 2023 an increase of 14% m-o-m. Over the period under review, average import prices hit record highs at $3,686 per ton in July 2023; however, from August 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Estonia ($6,245 per ton), while the price for China ($1,437 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Estonia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Sauce and Seasoning Price in Latvia (FOB) - 2023
In September 2023, the average sauce and seasoning export price amounted to $4,570 per ton, with an increase of 7.2% against the previous month. Over the last twelve months, it increased at an average monthly rate of +3.3%. The pace of growth appeared the most rapid in November 2022 when the average export price increased by 15% month-to-month. The export price peaked in September 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Belarus ($8,648 per ton), while the average price for exports to Germany ($3,234 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.
Sauce and Seasoning Imports in Latvia
For the fourth year in a row, Latvia recorded growth in supplies from abroad of sauces and seasonings, which increased by 6.6% to 16K tons in 2022. The total import volume increased at an average annual rate of +7.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, sauce and seasoning imports totaled $41M in 2022. The total import value increased at an average annual rate of +10.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Sauce and Seasoning in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 6.0 | 6.8 | 8.0 | 7.1 | 5.8% |
| Germany | 4.7 | 5.0 | 5.9 | 6.8 | 13.1% |
| Poland | 3.7 | 3.8 | 5.2 | 5.6 | 14.8% |
| Lithuania | 4.5 | 4.3 | 4.0 | 5.0 | 3.6% |
| Sweden | 2.5 | 2.5 | 3.4 | 3.2 | 8.6% |
| Netherlands | 1.1 | 1.5 | 2.0 | 1.9 | 20.0% |
| Italy | 1.3 | 1.7 | 1.7 | 1.8 | 11.5% |
| Russia | 0.8 | 1.1 | 1.5 | 1.5 | 23.3% |
| Spain | 0.5 | 0.8 | 0.9 | 1.0 | 26.0% |
| Thailand | 0.4 | 0.5 | 0.6 | 0.8 | 26.0% |
| China | 0.4 | 0.5 | 0.6 | 0.7 | 20.5% |
| Ukraine | 1.2 | 1.2 | 1.4 | 0.5 | -25.3% |
| Portugal | N/A | 0.1 | 0.2 | 0.5 | 123.6% |
| Others | 3.7 | 5.3 | 5.7 | 5.2 | 12.0% |
| Total | 30.9 | 35.0 | 41.2 | 41.5 | 10.3% |
Top Suppliers of Sauce and Seasoning to Latvia in 2022:
- Poland (3.0K tons)
- Lithuania (2.2K tons)
- Germany (1.8K tons)
- Sweden (1.7K tons)
- Estonia (1.6K tons)
- Russia (0.9K tons)
- Netherlands (0.8K tons)
- Italy (0.5K tons)
- Portugal (0.5K tons)
- Ukraine (0.4K tons)
- Thailand (0.4K tons)
- Spain (0.4K tons)
- China (0.3K tons)
Sauce and Seasoning Exports in Latvia
In 2022, sauce and seasoning exports from Latvia reached 11K tons, picking up by 5.4% against the previous year. The total export volume increased at an average annual rate of +5.4% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 when exports increased by 7.2%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, sauce and seasoning exports expanded rapidly to $32M in 2022. The total export value increased at an average annual rate of +13.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 18%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Sauce and Seasoning in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 6.3 | 6.8 | 7.5 | 9.0 | 12.6% |
| Lithuania | 6.3 | 6.7 | 8.0 | 8.2 | 9.2% |
| Finland | 3.4 | 3.8 | 4.3 | 5.4 | 16.7% |
| Uzbekistan | 1.8 | 2.0 | 2.7 | 2.6 | 13.0% |
| Russia | 0.4 | 2.2 | 2.2 | 2.0 | 71.0% |
| Sweden | 0.8 | 0.8 | 1.5 | 1.2 | 14.5% |
| Germany | 0.4 | 0.5 | 0.6 | 1.0 | 35.7% |
| United Kingdom | 0.5 | 0.4 | 0.6 | 0.5 | 0.0% |
| Others | 2.2 | 2.5 | 2.4 | 1.9 | -4.8% |
| Total | 21.9 | 25.7 | 29.7 | 31.8 | 13.2% |
Top Export Markets for Sauce and Seasoning from Latvia in 2022:
- Estonia (3.2K tons)
- Lithuania (3.1K tons)
- Finland (2.1K tons)
- Sweden (0.4K tons)
- Russia (0.4K tons)
- Uzbekistan (0.3K tons)
- Germany (0.3K tons)
- United Kingdom (0.2K tons)
This report provides an in-depth analysis of the sauce and seasoning 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:
- Prodcom 10841210 - Soya sauce
- Prodcom 10841230 - Tomato ketchup and other tomato sauces
- Prodcom 10841253 - Mustard flour and meal
- Prodcom 10841255 - Prepared mustard
- Prodcom 10841270 - Sauces and preparations therefor, mixed condiments and mixed seasonings (excluding soya sauce, tomato ketchup, o ther tomato sauces, mustard flour or meal and prepared mustard)
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
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- 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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In value terms, sauces imports totaled $X in 2016. The total import value increased at an average annual rate of +X% over the period from 2007 to 2016; however, the trend pattern indicated some no...
1382
In value terms, sauces exports stood at $X in 2016. Overall, it indicated a prominent growth from 2007 to 2016: the total exports value increased at an average annual rate of +X% over the last nin...
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Explore the top import markets for mixed condiments, sauces, and seasonings, including the United States, United Kingdom, Canada, France, Germany, Netherlands, Hong Kong SAR, Australia, Russia, and Mexico. Get key statistics and insights on these markets. Leverage the IndexBox market intelligence platform for accurate and up-to-date market information.
