The Latvian soap market displayed a declining trend from 2013 to 2023, decreasing from a market size value of $19.917 million to $15.123 million in 2023. This decline was marked by fluctuations, with substantial drops in certain years and slight recoveries in others. The average CAGR over the last five years was -1.2%, indicating a moderate annual decrease. Over the last two years, the year-on-year variations were negative, each at -1.7%.
Future trends to watch for:
- Increasing demand for eco-friendly and organic soap products could stimulate market interest and growth.
- Technological advancements and new product innovations may create expansive opportunities in the personal care segment.
- Consumer preferences leaning towards sustainability could drive shifts in market dynamics and revival.
- Monitoring inflation and economic conditions, as they could impact purchasing power and market performance.
| # | 52 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 1,657,200,000 | 2023 | +4.14% | +5.44% | View data |
| 2 | 2 United Kingdom | 1,148,200,000 | 2023 | -0.26% | +0.39% | View data |
| 3 | 3 Germany | 1,113,300,000 | 2023 | +0.59% | -0.38% | View data |
| 4 | 4 France | 1,070,200,000 | 2023 | -0.84% | -1.46% | View data |
| 5 | 5 Canada | 1,029,900,000 | 2023 | -1.1% | -1.46% | View data |
| 46 | 46 Mauritius | 19,510,000 | 2023 | -0.44% | -0.25% | View data |
| 47 | 47 Armenia | 16,310,000 | 2023 | -3.57% | -3.33% | View data |
| 48 | 48 Latvia | 15,123,000 | 2023 | -1.7% | -1.2% | |
| 49 | 49 Cyprus | 14,961,000 | 2023 | +5.1% | +1.16% | View data |
| 50 | 50 Montenegro | 9,447,400 | 2023 | -0.14% | -1.09% | View data |
