Food - Estonia

Estonia

Revenue in the Food market amounts to US$4,105.00m in 2024. The market is expected to grow annually by 5.19% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$840.90m in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$3,017.00 are generated in 2024.
In the Food market, 4.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 969.00m kg by 2029. The Food market is expected to show a volume growth of 2.4% in 2025.
The average volume per person in the Food market is expected to amount to 637.80kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Estonia has been experiencing slow growth, influenced by factors like changing consumer preferences, increasing health consciousness, and the convenience of online shopping. Despite minimal growth, the market is driven by the demand for fresh and locally sourced products, as well as the growing popularity of convenience food and healthy options. The sub-markets of dairy, meat, fruits, vegetables, and others all play a role in shaping the overall market.

Customer preferences: As the younger generation in Estonia becomes more health-conscious, there has been a noticeable shift towards plant-based and sustainable food choices. This trend is driven by a growing awareness of the environmental impact of food production and a desire for ethical consumption. As a result, the demand for locally sourced and organic produce has increased. Additionally, there is a growing interest in functional foods and supplements that offer health benefits beyond basic nutrition. This shift reflects a desire for holistic wellness and a focus on preventive health measures.

Trends in the market: In Estonia, The Food market industry is experiencing a rise in online grocery shopping and food delivery services, as consumers increasingly opt for convenience and safety amidst the ongoing pandemic. This trend is expected to continue, with more retailers and restaurants adopting online platforms and implementing contactless delivery options. Additionally, there is a growing demand for locally sourced and organic produce, driven by health and sustainability concerns. This presents opportunities for industry stakeholders to tap into the growing demand for healthy and environmentally-friendly food options.

Local special circumstances: In Estonia, The Food market is heavily influenced by the country's cold climate and abundance of natural resources. Locally sourced and organic products are highly valued, leading to a strong focus on sustainability and support for small-scale farmers. Additionally, the country's high-tech culture and digital infrastructure have contributed to the rise of online food delivery services and virtual grocery shopping. These unique factors have created a market that prioritizes quality, convenience, and innovation, setting it apart from other food markets around the world.

Underlying macroeconomic factors: The Food market in Estonia is heavily influenced by macroeconomic factors such as the country's overall economic health and fiscal policies. As a member of the European Union, Estonia has a stable economy with a strong focus on innovation and technology. This has led to a favorable business environment and increased investment opportunities in the food industry. Additionally, Estonia's strategic location and growing tourism industry have also contributed to the growth of The Food market. As the country continues to invest in its infrastructure and improve its regulatory environment, The Food market is expected to experience steady growth. However, fluctuations in global economic trends and changes in consumer spending patterns may also impact the market's performance.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.