Report Update: May 1, 2024

Latvia - Artificial Fur - Market Analysis, Forecast, Size, Trends And Insights

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Artificial Fur Price in Latvia - 2023

Artificial Fur Price in Latvia (CIF) - 2022

In 2022, the average artificial fur import price amounted to $44,914 per ton, surging by 114% against the previous year. Over the period under review, the import price enjoyed a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Italy ($100,035 per ton), while the price for Estonia ($7,554 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Artificial Fur Price in Latvia (FOB) - 2022

The average artificial fur export price stood at $92,543 per ton in 2022, picking up by 326% against the previous year. Overall, the export price enjoyed a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($99,548 per ton), while the average price for exports to Lithuania ($12,673 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 Russia (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Artificial Fur Imports in Latvia

For the third consecutive year, Latvia recorded decline in overseas purchases of artificial fur, which decreased by -47.5% to 2.6 tons in 2022. Over the period under review, imports saw a significant curtailment. The smallest decline of -36% was in 2021.

In value terms, artificial fur imports rose remarkably to $117K in 2022. Overall, imports continue to indicate a abrupt descent.

Import of Artificial Fur in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	16.8	36.8	28.8	89.2	74.5%
Germany	10.9	2.8	10.3	5.8	-19.0%
Estonia	7.4	35.6	36.8	5.3	-10.5%
Denmark	110	N/A	2.5	5.2	-63.8%
Poland	0.4	5.0	3.5	4.1	117.2%
Lithuania	3.2	0.6	3.0	1.7	-19.0%
China	10.7	7.3	0.2	0.2	-73.5%
Others	8.7	24.1	18.9	5.3	-15.2%
Total	168	112	104	117	-11.4%

Top Suppliers of Artificial Fur to Latvia in 2022:

Italy (892.0 kg)
Estonia (707.0 kg)
Poland (364.0 kg)
Denmark (327.0 kg)
Lithuania (165.0 kg)
Germany (79.0 kg)
China (3.0 kg)

Artificial Fur Exports in Latvia

In 2022, overseas shipments of artificial fur decreased by -71.8% to 932 kg, falling for the second year in a row after two years of growth. In general, exports continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2020 when exports increased by 206%. As a result, the exports reached the peak of 12 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, artificial fur exports skyrocketed to $86K in 2022. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 160% against the previous year. As a result, the exports reached the peak of $145K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Artificial Fur in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Russia	11.0	10.7	28.0	82.6	95.8%
Italy	1.3	N/A	2.8	2.4	22.7%
Lithuania	20.3	52.5	17.7	0.7	-67.5%
Estonia	14.9	56.4	10.1	0.3	-72.8%
Bulgaria	2.8	N/A	N/A	N/A	0%
United States	5.3	10.0	N/A	N/A	88.7%
Others	N/A	15.3	13.1	0.2	-88.6%
Total	55.7	145	71.7	86.3	15.7%

Top Export Markets for Artificial Fur from Latvia in 2022:

Russia (830.0 kg)
Lithuania (55.0 kg)
Italy (25.0 kg)
Estonia (20.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the artificial fur 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 13911920 - Artificial fur and articles thereof

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023