The meat market in Latvia demonstrated varying trends over the past decade. Between 2013 and 2017, there was considerable volatility with a decline in market size, reaching its lowest in 2015. However, this was followed by an upward trajectory from 2018, with 2023 closing at a value of 262.41 million Euros. Year-on-year, recent variations depict a stable growth rate of around 0.64% to 6.27% in recent years. The compound annual growth rate over the past five years stands at 1.78%, signaling moderate expansion.
- Between 2013 to 2017, the market experienced fluctuations with significant declines.
- Post-2018, growth trends became more stable and positive.
- From 2020 onwards, growth rates stabilized, with slight annual increases observed through to 2023.
Future trends to watch include the increasing consumer preference for sustainable and ethical meat production, potential impacts of economic policies on meat imports and exports, and the rising importance of alternative protein sources which may impact overall market dynamics. Moreover, monitoring technological advancements in meat processing could unveil growth opportunities and potential shifts in consumer behavior.
How does Latvia rank in Meat Market Size Value?
| # | 23 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 26,271,000,000 | 2023 | +1.62% | +1.76% | View data |
| 2 | 2 France | 20,556,000,000 | 2023 | -0.43% | +0.36% | View data |
| 3 | 3 Italy | 19,843,000,000 | 2023 | +0.48% | +0.26% | View data |
| 4 | 4 United Kingdom | 17,318,000,000 | 2023 | +2.04% | +2.43% | View data |
| 5 | 5 Spain | 13,262,000,000 | 2023 | +1.18% | +2.68% | View data |
| 19 | 19 Lithuania | 507,500,000 | 2023 | -1.45% | +1.11% | View data |
| 20 | 20 Slovenia | 396,240,000 | 2023 | -0.11% | +0.43% | View data |
| 21 | 21 Latvia | 262,410,000 | 2023 | +0.64% | +1.78% | |
| 22 | 22 Estonia | 123,710,000 | 2023 | +5.06% | +1.65% | View data |
| 23 | 23 Luxembourg | 104,590,000 | 2023 | +0.86% | +0.6% | View data |
