Wooden pallets, box pallets, load boards and pallet collars market in Latvia

Earlier Report Observations

The market volume for wooden pallets, box pallets, load boards, and pallet collars in Latvia grew significantly in physical terms from 3.5 thousand units in 2018 to 5.5 thousand units in 2020, a 56% increase. In value, the market expanded from $24.3 million to $34.8 million over the same period. This growth was accompanied by a doubling of imports, which rose from 1.7 thousand to 2.0 thousand units, while domestic production remained stable at around 22 thousand units annually.

Following 2020, import volumes continued to rise, peaking at 2.8 thousand units in 2022 before moderating to 2.5 thousand units in 2023. Export volumes fluctuated, reaching a high of 21.5 thousand units in 2022. These movements in trade reflect shifting demand and supply conditions in the Latvian market for wooden packaging.

By 2024, specific drivers emerged. The growth of e-commerce in Latvia boosted demand for efficient logistics solutions, including wooden pallets and boxes, to handle increased goods transportation. Simultaneously, the new European Union packaging regulation, set to take effect in 2025, introduced strict requirements for recyclability and traceability of packaging materials, directly impacting local producers of wooden packaging. Major industry players like Stora Enso Latvija focused on innovation and the use of renewable raw materials to adapt to these evolving market and regulatory conditions.

Production wooden pallets and load boards in Latvia

In value, 2018-2021, M $ US

In 2020, Latvia's production of wooden pallets, box pallets, load boards, and pallet collars was valued at 122.4 million US dollars, showing a slight increase of 2.3% compared to the previous year. The minimum value was recorded in 2019 at 119.6 million US dollars, with the largest decline of 12.4% occurring that same year. Over the period from 2018 to 2020, production decreased by 10.3%, which translates to an annualized decline rate of 3.6%.

Annual dynamics of production in Latvia in value, 2018-2021, M $ US

In kind, 2018-2021, K unit

In 2020, Latvia produced 21,884 thousand units of wooden pallets, box pallets, load boards, and pallet collars, marking a gain of 1.3% compared to 2019. The minimum production level was recorded in 2019 at 21,609 thousand units, with the largest decline of 1.6% also occurring that year.

Annual dynamics of production in Latvia in kind, 2018-2021, K unit

Exports wooden pallets and load boards from Latvia

Exports in kind, K unit

After two years of contraction, exports of wooden pallets, box pallets, load boards, and pallet collars from Latvia increased in 2021, totaling 20,555 thousand units. This represents a solid rise of 11.7% compared to the previous year. The minimum value was recorded in 2020 at 18,407 thousand units, with the largest decline of 8.1% occurring in 2019. Over the period from 2018 to 2021, exports grew by 2.3%, equating to an annualized growth rate of 0.8%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, K unit

From 2018 to 2021, the country composition of Latvia's exports in kind was dispersed. Germany accounted for 33.4% of exports in kind, the Netherlands for 8.6%, and Belgium for 7.5%, together forming just 49.5% of total flows. The remaining 50.5% was split among a wide range of other destinations.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Latvia in kind, 2018-2021

Exports in value, M $ US

The market exhibited an unstable trend throughout the timeframe. Exports in value terms reached their lowest point in 2020 at 99.4 million US dollars, then peaked in 2021 at 182.3 million US dollars—a fluctuation of 1.8 times. In 2021, cross-border shipments of wooden pallets, box pallets, load boards, and pallet collars from Latvia were 83.4% higher compared to 2020. The largest decline was recorded in 2019 at 13.5%.

Annual dynamics of product's exports from Latvia in value, 2018-2021, M $ US

From 2018 to 2021, the market base for Latvia's exports in value terms was wide. Germany accounted for 33.3% of exports in value terms, Sweden for 7.7%, and the Netherlands for 7.5%, jointly representing just 48.6% of total flows. The remaining 51.4% was shared by numerous other countries.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Latvia in value, 2018-2021

Imports wooden pallets and load boards to Latvia

Imports in kind, K unit

In 2021, Latvia imported a total of 2,505 thousand units of wooden pallets, box pallets, load boards, and pallet collars, up by 23.7% year-over-year. The largest decline was recorded in 2020 at 5.8%, while the largest increase occurred in 2019 at 29.1%. Over the period from 2018 to 2021, imports increased by 50.5%, equating to an annualized growth rate of 14.6%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, K unit

From 2018 to 2021, Lithuania accounted for 47.3% of Latvia's imports in kind, Estonia for 18.2%, and Poland for 8.8%, together comprising 74.3% of total flows and forming the largest share of imports in kind.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Latvia in kind, 2018-2021

Imports in value, M $ US

In 2021, the volume of wooden pallets, box pallets, load boards, and pallet collars imported by Latvia came to 19.1 million US dollars, amounting to a sharp uptick of 62.1% compared to 2020. The largest decline was recorded in 2020 at 5.1%. Over the period from 2018 to 2021, imports increased by 94.1%, with a compound annual growth rate of 24.7%.

Annual dynamics of product's imports to Latvia in value, 2018-2021, M $ US

From 2018 to 2021, Lithuania accounted for 42.2% of Latvia's imports in value terms, Estonia for 21.8%, and Poland for 10.8%, forming the main group of destinations for imports in value terms of wooden pallets, box pallets, load boards, and pallet collars to Latvia, with a combined share of 74.8% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Latvia in value, 2018-2021