Key Market Indicators
Latvian Food Services Revenue is projected to hit €1.2 billion by 2028, up from €1.07 billion in 2023, reflecting a 1.8% annual growth rate. Since 2010, the Latvian market has seen a 3% yearly increase. In 2023, Latvia ranked 32nd globally, with Bosnia and Herzegovina surpassing it at €1.07 billion. Germany, France, and Italy occupied the second, third, and fourth spots, respectively. Latvian Food Services Expenditure is expected to reach €1.69 billion by 2028, rising from €1.5 billion in 2023, marking a 1.9% average annual growth rate. Since 2000, Latvian demand has grown at a rate of 5.3% annually. In 2023, Latvia ranked 30th, as Luxembourg overtook it with €1.5 billion. Spain, Italy, and France were the second, third, and fourth highest in expenditure rankings, respectively.
