From 2013 to 2023, Latvia's market for toffees, caramels, and similar sweets showed a decline from 0.8 kilograms per capita to 0.47 kilograms per capita. The peak consumption was in 2015 at 0.91 kilograms per capita, but thereafter, a marked downward trend was observed, with the most significant drops occurring from 2015 to 2017. The reduction continued steadily afterwards. Over the last two years, there was a decrease of 4.08% from 2021 to 2022 and 4.08% from 2022 to 2023. The compound annual growth rate (CAGR) over the last five years was indicative of a declining demand and stood at -1.54%.
Future trends to watch include shifts towards healthier snacking options, which could further pressure volumes downward. Additionally, market players should monitor the impact of emerging market innovations and new product offerings, especially those focusing on premium and health-centric sweets, which might sway consumer preferences and potentially stabilize or even rejuvenate this segment.
How does Latvia rank in Toffees, Caramels and Similar Sweets Market Size Volume Per Capita?
| # | 15 Countries | Kilograms Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 0.67 | 2023 | View data | ||
| 2 | 2 United Kingdom | 0.66 | 2023 | View data | ||
| 3 | 3 Italy | 0.64 | 2023 | View data | ||
| 4 | 4 Estonia | 0.61 | 2023 | View data | ||
| 5 | 5 Lithuania | 0.55 | 2023 | View data | ||
| 6 | 6 Latvia | 0.47 | 2023 | |||
| 7 | 7 Croatia | 0.35 | 2023 | View data | ||
| 8 | 8 Sweden | 0.32 | 2023 | View data | ||
