Key Market Indicators
Latvian Animal Feed Sales are projected to decline slightly over the next five years, falling from approximately €47 million in 2023 to about €46 million by 2028. This marks an average annual decrease of 0.4%. Since 2013, the Latvian market has experienced a yearly decrease of 0.6%. In 2023, Latvia ranked 30th globally in animal feed sales, with Iceland surpassing it with sales also around €47 million. Germany, France, and the Netherlands held the second, third, and fourth positions, respectively. On the import front, Latvia's animal feed imports are expected to grow modestly. By 2028, imports are estimated to reach nearly 43 million kilograms, up from around 39 million kilograms in 2023, reflecting an average annual growth rate of 1.5%. Since 1999, the demand for animal feed in Latvia has increased by 2.2% each year. Latvia's animal feed exports are also on the rise. Exports are set to reach over 51 million kilograms by 2028, up from approximately 48 million kilograms in 2023, with an average annual growth rate of 0.9%. Since 1999, Latvia's animal feed supply has grown by 1.1% annually. In 2023, Latvia ranked 41st in global animal feed exports, with Oman leading slightly at around 48 million kilograms. Germany, Belgium, and the United States occupied the second, third, and fourth spots, respectively.
