Latvia Food Industry Outlook 2022 - 2026

Key Market Indicators

Latvian food sales are projected to reach nearly €2 billion by 2026, up from €1.8 billion in 2021. This represents an average year-on-year growth rate of 1.3%. Since 2010, Latvian market growth has averaged 4.7% each year. In 2021, Latvia was ranked 29th, behind Bosnia and Herzegovina, France, Italy and Spain. Food expenditures in Latvia are forecast to reach €3.45 billion by 2026, up from €3.11 billion in 2021. This represents an average year-on-year growth rate of 1.7%. Since 2000, Latvian demand has risen 4.6% each year. In 2021, Latvia was ranked 27th, behind Slovenia, France, Italy and the United Kingdom. Food production in Latvia is expected to reach $1.25 billion by 2026, up from $1.21 billion in 2021. This represents an average year-on-year growth rate of 0.6%. Since 1997, Latvian supply has decreased by 1% each year. In 2021, Latvia was ranked 115th, behind Senegal, India, the United States and Brazil.

Latvia Food Market Data and Forecasts

Improve your Knowledge with the latest Indicators and Trends

• Organic Food and Beverages: Unpacking Retail Trends and Global Market Strategies

  Consumer buying behavior has seen a noticeable tilt, with a growing preference for organic food and beverages in recent years. These preferences primarily stem from an increased understanding of health and wellness, coupled with concerns about the environmental impacts of conventional farming. The burgeoning middle-class population, armed with increased purchasing...

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• Processed Food: Comparative Insights on Fish and Meat Market Dynamics

  The global market for processed foods paints an active tableau of trends and counter-trends. In this context, the processed fish and meat market segments exhibit distinct dynamics. While the processed fish market is steadied by a growing consumer inclination towards lean protein options, the meat segment is challenged by concerns...

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• Bulk Food Ingredients: Unearthing Global Opportunities and Trends in Distribution, Applications, and Types

  Changes in global trade and consumer preferences are influencing the distribution trends of high quantity food constituents. An emerging pattern is leaning towards the integration of digital platforms for direct-to-consumer delivery, aiming to optimize supply chain efficiency and meet increasing consumer demand for transparency. Additionally, government policies influence the global...

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• Economic Outlook: Unveiling Key Trends and Forecasts in Global Macroeconomics

  Global economic trends indicate a mixed bag of opportunities and challenges. Currently, multiple economies are transitioning from recovery to growth post Covid-19, which is fueled by accelerated vaccination drives and adaptability to new norms. Trade trends are rapidly evolving with a visible shift from protectionism to regional cooperation. Technology-led innovations...

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• Packaged Food Industry: Evaluating Hershey Company's Global Market Impact

  In the worldwide arena of packaged foods, Hershey Company holds a critical position. With a rich catalog of confectionery products, Hershey has established itself as a market leader, leveraging on product innovation, strategic acquisitions and a robust distribution network. The firm's market presence is well articulated, spanning across different geographic...

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