The Latvian shampoo market in 2023 stood at a value of 8.0755 million euros, continuing an upward trend from 7.8734 million euros in 2022. Over the past year, the market grew by 2.57%. The five-year Compound Annual Growth Rate (CAGR) from 2018 to 2023 is modest at 2.27%, indicative of steady growth despite fluctuating year-on-year figures. The most significant recent growth was in 2021, with an 11.46% increase. Overall, the market has seen a steady increase with minor setbacks.
Future trends to monitor include the rising demand for organic and eco-friendly products, which may drive market innovation and diversification. Additionally, consumer preferences for personalized hair care solutions could spur niche product developments, potentially altering market dynamics.
How does Latvia rank in Shampoo Market Size Value?
| # | 14 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 526,740,000 | 2023 | +1.35% | +1.04% | View data |
| 2 | 2 Spain | 265,250,000 | 2023 | -2.57% | -0.28% | View data |
| 3 | 3 Greece | 100,300,000 | 2023 | +2.86% | +4.24% | View data |
| 4 | 4 Poland | 80,131,000 | 2023 | -0.14% | +0.33% | View data |
| 5 | 5 Austria | 78,534,000 | 2023 | +4.45% | +3.51% | View data |
| 12 | 12 Croatia | 19,593,000 | 2023 | -0.27% | -1.3% | View data |
| 13 | 13 Lithuania | 13,888,000 | 2023 | +1.64% | +2.83% | View data |
| 14 | 14 Latvia | 8,075,500 | 2023 | +2.57% | +2.27% | |
