The bread market in Latvia has experienced a steady decline in volume, measured in million kilograms, from 2013 to 2023. In 2023, the market size reached approximately 64.931 million kilograms. Over the past decade, significant annual declines persisted, with the sharpest drop recorded in 2020 at 6.26%. The market briefly stabilized in 2021, showing a marginal increase, but resumed its declining trend in the subsequent years. Over the past five years, the compound annual growth rate (CAGR) averaged -3.16%.
- Future trends to watch:
- Innovations in product offerings may drive niche market growth.
- Increasing consumer demand for healthy and artisanal bread products.
- Potential impact of global supply chain issues on raw material availability and pricing.
- Economic factors and consumer spending patterns influencing purchase decisions.
- Technological advancements in production and distribution may reshape market dynamics.
How does Latvia rank in Bread Market Size Volume?
| # | 23 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 4,639,200,000 | 2023 | -0.6% | -0.44% | View data |
| 2 | 2 United Kingdom | 2,629,200,000 | 2023 | -0.35% | -0.49% | View data |
| 3 | 3 Spain | 2,022,900,000 | 2023 | +1.64% | +1.48% | View data |
| 4 | 4 France | 1,165,300,000 | 2023 | +0.36% | -0.45% | View data |
| 5 | 5 Poland | 1,123,000,000 | 2023 | -5.58% | -5.07% | View data |
| 20 | 20 Slovakia | 90,516,000 | 2023 | -1.27% | -1.35% | View data |
| 21 | 21 Slovenia | 81,438,000 | 2023 | +0.28% | +1.13% | View data |
| 22 | 22 Latvia | 64,931,000 | 2023 | -3.09% | -3.16% | |
| 23 | 23 Estonia | 47,808,000 | 2023 | -1.87% | -2.03% | View data |
