The Hair Lacquers market in Latvia has experienced fluctuations from 2013 to 2023. The market value stood at $2.8622 million US dollars in 2023, showcasing a continuous decline over the last five years.
Recent trends highlight:
- A steady contraction observed from 2019, with significant year-on-year decreases, notably 9.6% in 2020.
- Since 2021, the market's deceleration persisted with declines of approximately 0.93% annually until 2023.
- The five-year period leading up to 2023 experienced a Compound Annual Growth Rate (CAGR) of -5.08%.
Future trends may involve increased innovation in product offerings and a potential market recovery driven by rising demand for premium hair care products and environmentally friendly solutions.
