The Latvian dog and cat food market has witnessed noteworthy growth from 2013 to 2023, reaching a value of 46.12 euros per capita in 2023. The year-on-year analysis of the last two years shows a positive growth, with increments of 5.38% from 2021 to 2022 and 4.70% from 2022 to 2023. The five-year compound annual growth rate (CAGR) from 2018 to 2023 is approximately 6.14%, indicating a robust expansion.
Looking ahead, market trends to watch include a potential rise in demand for premium and specialized pet food products due to increasing pet humanization. The influence of e-commerce in pet food distribution will also be an area of continued growth, with consumers favoring convenience and variety.
