Key Market Indicators
Latvian food expenditures are projected to soar to €5.4 billion by 2028, up from €4.3 billion in 2023. This marks a compound annual growth rate (CAGR) of 3.7%. Since the turn of the millennium, the demand for food in Latvia has seen a robust annual increase of 8.8%. Meanwhile, Latvian food sales are anticipated to climb to €2.0 billion by 2028, rising from €1.9 billion in 2023. This reflects an average annual growth rate of 1.4%. Since 2010, the Latvian market has experienced a steady annual growth of 2%.
