Key Market Indicators
Latvian food expenditures are projected to see significant growth in the coming years. By 2028, spending on food in Latvia is expected to reach approximately €5.4 billion, up from €4.3 billion in 2023. This represents an average annual growth rate of 3.7%. Since the year 2000, Latvian demand for food has been on the rise, increasing by an average of 8.8% each year. In parallel, Latvian food sales are also on an upward trajectory. Projections indicate that by 2028, food sales will hit around €2 billion, compared to €1.9 billion in 2023. This growth translates to an average annual increase of 1.4%. Over the past decade, the Latvian food market has seen consistent growth, averaging a 2% increase each year since 2010.
