Latvia: Adhesive Bandage Market 2023

Adhesive Bandage Market Size in Latvia

The Latvian adhesive bandage market rose remarkably to $X in 2022, surging by 5.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Adhesive Bandage Exports

Exports from Latvia

Adhesive bandage exports from Latvia surged to X tons in 2022, jumping by 37% compared with the year before. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 56%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, adhesive bandage exports skyrocketed to $X in 2022. In general, exports posted resilient growth. The growth pace was the most rapid in 2013 with an increase of 55%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for adhesive bandage exports from Latvia, accounting for a 36% share of total exports. Moreover, adhesive bandage exports to Russia exceeded the volume sent to the second major destination, Estonia (X tons), threefold. Lithuania (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +56.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+12.0% per year) and Lithuania (+18.3% per year).

In value terms, Russia ($X) remains the key foreign market for adhesive bandages exports from Latvia, comprising 32% of total exports. The second position in the ranking was taken by Moldova ($X), with a 12% share of total exports. It was followed by Estonia, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +50.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+11.1% per year) and Estonia (+7.4% per year).

Export Prices by Country

The average adhesive bandage export price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price, however, continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2017 an increase of 5.1%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Turkmenistan ($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 Moldova (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Adhesive Bandage Imports

Imports into Latvia

In 2022, the amount of adhesive bandages imported into Latvia skyrocketed to X tons, jumping by 28% compared with the year before. In general, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, adhesive bandage imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 +37.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 27%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Estonia (X tons), China (X tons) and Sweden (X tons) were the main suppliers of adhesive bandage imports to Latvia, with a combined 82% share of total imports. Lithuania, Poland, Italy and the Czech Republic lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +31.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) constituted the largest supplier of adhesive bandages to Latvia, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Poland, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Estonia amounted to +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.6% per year) and Poland (+16.3% per year).

Import Prices by Country

In 2022, the average adhesive bandage import price amounted to $X per ton, stabilizing at the previous year. In general, the import price recorded a pronounced downturn. The pace of growth appeared the most rapid in 2016 when the average import price increased by 21%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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