Between 2013 and 2023, Latvia's fermented milk product market displayed fluctuations, peaking at 40.16 Euros per capita in 2018 and stabilizing at 38.32 Euros per capita in 2023. Notably, the market saw a 5.19% increase from 2021 to 2022, followed by a modest rise of 0.37% from 2022 to 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 0.22%, indicating a stable but slow upward trend.
Future trends to watch include health and wellness influences driving product innovation, increasing consumer preference for sustainable packaging, and potential growth opportunities in plant-based fermented milk alternatives.
How does Latvia rank in Fermented Milk Products Market Size Value Per Capita?
| # | 18 Countries | Euros Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Lithuania | 41.31 | 2023 | View data | ||
| 2 | 2 Latvia | 38.32 | 2023 | |||
| 3 | 3 Estonia | 38.09 | 2023 | View data | ||
| 4 | 4 Croatia | 36.8 | 2023 | View data | ||
| 5 | 5 Bulgaria | 33.3 | 2023 | View data | ||
