The Toffees, Caramels, and Similar Sweets market in Latvia has experienced a consistent decline from 2013 to 2023, reaching a market size of 2.2173 million euros in 2023. The year-on-year reduction was significant, especially between 2017 and 2023, with a notable drop of 10.06% in the last year alone. The compound annual growth rate (CAGR) over the past five years stands at -7.32%, emphasizing ongoing contraction.
Future trends to watch for include:
- Shifting consumer preferences towards healthier snack alternatives.
- Adapting to new product innovations focused on sugar reduction.
- Potential growth opportunities from the introduction of premium or niche sweet products.
How does Latvia rank in Toffees, Caramels and Similar Sweets Market Size Value?
| # | 13 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 259,920,000 | 2023 | +1.56% | -2.16% | View data |
| 2 | 2 Poland | 101,520,000 | 2023 | -2.39% | -4.13% | View data |
| 3 | 3 France | 67,005,000 | 2023 | -0.43% | +2.43% | View data |
| 4 | 4 Romania | 21,091,000 | 2023 | +2.61% | +1.85% | View data |
| 5 | 5 Sweden | 14,691,000 | 2023 | +0.63% | +0.23% | View data |
| 11 | 11 Estonia | 5,198,700 | 2023 | +5.29% | +0.82% | View data |
| 12 | 12 Hungary | 5,188,000 | 2023 | +0.51% | +1.16% | View data |
| 13 | 13 Latvia | 2,217,300 | 2023 | -10.06% | -7.32% | |
