The fermented milk products market in Latvia grew to a size of 81.532 million euros in 2023. Over the past decade, this market experienced fluctuations with notable declines between 2015 and 2017. A significant rebound occurred from 2021 to 2022 with a 16.3% increase, followed by a moderate 1.85% rise in 2023. The compound annual growth rate (CAGR) over the last five years was about 1.05%, reflecting mild but steady growth.
Future trends to watch for include:
- Consumers' growing preference for probiotic and functional foods that may drive demand.
- Innovation in flavors and packaging could attract younger consumers.
- Potential impacts of economic conditions and purchasing power on market dynamics.
How does Latvia rank in Fermented Milk Products Market Size Value?
| # | 18 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,161,100,000 | 2023 | +2.93% | +3.38% | View data |
| 2 | 2 France | 1,057,800,000 | 2023 | +2.32% | +3.02% | View data |
| 3 | 3 United Kingdom | 698,230,000 | 2023 | +2.16% | +1.87% | View data |
| 4 | 4 Poland | 455,570,000 | 2023 | +0.29% | +1.3% | View data |
| 5 | 5 Romania | 334,600,000 | 2023 | +3.84% | +3.85% | View data |
| 13 | 13 Denmark | 133,740,000 | 2023 | +0.97% | +3.65% | View data |
| 14 | 14 Lithuania | 109,840,000 | 2023 | +2.8% | +1.96% | View data |
| 15 | 15 Latvia | 81,532,000 | 2023 | +1.85% | +1.05% | |
| 16 | 16 Slovakia | 65,404,000 | 2023 | -0.006% | -0.072% | View data |
| 17 | 17 Slovenia | 60,779,000 | 2023 | +2% | +2.47% | View data |
