Key Market Indicators
Latvia's consumption of alcoholic beverages is projected to climb to 23,000 metric tons by 2028, up from the current 19,000 metric tons in 2023. This marks an annual compound growth rate (CAGR) of 3%. Since 2019, the demand for alcoholic drinks in Latvia has increased by nearly 5% each year. In 2023, Latvia ranked 64th globally in terms of consumption, with Switzerland surpassing it at 19,000 metric tons. Leading the global rankings are India, Japan, and Russia, occupying the second, third, and fourth positions respectively. In terms of exports, Latvia is expected to see its alcoholic drink exports rise to roughly $1.02 billion by 2028, up from approximately $864 million in 2023. This represents a 2.7% annual growth rate. Since 1999, Latvia's supply of alcoholic beverages for export has risen by an average of 3.3% each year.
