Latvia: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Latvia

In 2022, after two years of growth, there was decline in the Latvian market for mixed condiments, sauses and seasonings, when its value decreased by X% to $X. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Latvia

In value terms, mixed condiment, sause and seasoning production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Latvia

For the sixth year in a row, Latvia recorded growth in overseas shipments of mixed condiments, sauses and seasonings, which increased by X% to X tons in 2022. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, mixed condiment, sause and seasoning exports rose rapidly to $X in 2022. In general, exports showed a resilient 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, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Estonia (X tons), Finland (X tons) and Lithuania (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Latvia, together comprising X% of total exports. Russia, Uzbekistan, Germany, Sweden and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixed condiment, sause and seasoning exported from Latvia were Estonia ($X), Lithuania ($X) and Finland ($X), with a combined X% share of total exports. Uzbekistan, Russia, Germany, Sweden and the UK lagged somewhat behind, together accounting for a further X%.

Uzbekistan, with a CAGR of X%, saw 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

In 2022, the average export price for mixed condiments, sauses and seasonings amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Uzbekistan ($X per ton), while the average price for exports to Finland ($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 Uzbekistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Latvia

For the fifth year in a row, Latvia recorded growth in purchases abroad of mixed condiments, sauses and seasonings, which increased by X% to X tons in 2022. Over the period under review, total imports indicated a strong 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 increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, mixed condiment, sause and seasoning imports fell slightly to $X in 2022. In general, total imports indicated a measured 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 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Poland (X tons), Estonia (X tons) and Sweden (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Latvia, together comprising X% of total imports. Germany, Lithuania, Russia, the Netherlands, Thailand, Italy, Croatia, the UK, Belgium and Ukraine lagged somewhat behind, together comprising a further X%.

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

In value terms, Estonia ($X), Germany ($X) and Poland ($X) appeared to be the largest mixed condiment, sause and seasoning suppliers to Latvia, together comprising X% of total imports. Lithuania, Sweden, Italy, Russia, the Netherlands, Croatia, the UK, Thailand, Belgium and Ukraine lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 import price for mixed condiments, sauses and seasonings amounted to $X per ton, which is down by X% against the previous year. Overall, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 Estonia ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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