Key Market Indicators
The baked goods market is projected to reach approximately €267 million by 2028, up from around €248 million in 2023. This represents an annual compound growth rate (CAGR) of 1.2%. The market saw a 1.6% increase year-on-year. Italy, the United Kingdom, and France are ranked second, third, and fourth, respectively, in this market segment. Latvian bread exports are expected to hit about $72 million by 2028, rising from nearly $63 million in 2023. This marks an annual growth rate of 2.2%. Since 1999, Latvia's bread supply has grown by an average of 3.8% annually. On the import side, Latvian bread imports are forecasted to reach close to $99 million by 2028, up from approximately $84 million in 2023. This indicates an average annual growth rate of 2.6%. Since 1999, Latvian demand for bread has increased by an average of 3.2% per year.
