Estonia: Animal Feed Market 2024

Animal Feed Market Size in Estonia

After two years of growth, the Estonian animal feed market decreased by X% to $X in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then dropped remarkably in the following year.

Animal Feed Production in Estonia

In value terms, animal feed production dropped significantly to $X in 2022 estimated in export price. Overall, the total production indicated a modest 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. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Animal feed production peaked at $X in 2021, and then shrank sharply in the following year.

Animal Feed Exports

Exports from Estonia

In 2022, after four years of decline, there was significant growth in shipments abroad of animal and pet feed, when their volume increased by X% to X tons. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, animal feed exports surged to $X in 2022. In general, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Latvia (X tons) and Russia (X tons) were the main destinations of animal feed exports from Estonia, together comprising X% of total exports. Belarus, Finland and Sweden lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for animal feed exported from Estonia were Russia ($X), Latvia ($X) and Lithuania ($X), together accounting for X% of total exports. Belarus, Finland and Sweden lagged somewhat behind, together accounting for a further X%.

Belarus, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 animal feed export price stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price, however, showed pronounced growth. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Lithuania ($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 Sweden (X%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Estonia

In 2022, overseas purchases of animal and pet feed decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2018 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, animal feed imports surged to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Latvia (X tons) constituted the largest animal feed supplier to Estonia, accounting for a X% share of total imports. Moreover, animal feed imports from Latvia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by Denmark (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Denmark (X% per year).

In value terms, Latvia ($X), Germany ($X) and the Netherlands ($X) were the largest animal feed suppliers to Estonia, with a combined X% share of total imports. Denmark, France, the Czech Republic, Lithuania, Belgium, Finland and Poland lagged somewhat behind, together comprising a further X%.

France, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average animal feed import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price 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, animal feed import price increased by X% against 2015 indices. 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 France ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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