The butter and dairy spreads price per unit in Latvia experienced notable fluctuations from 2011 to 2021. A steady increase was observed between 2012 and 2016, followed by a sharp rise in 2017. Prices peaked in 2017 and gradually decreased until 2020, before recovering slightly in 2021. Year-over-year variations indicate a period of volatility, particularly between 2017 and 2019. The overall compound annual growth rate (CAGR) for the last five years leading up to 2021 shows a modest decline as prices level out after earlier spikes.
Future trends to watch for include potential volatility due to global supply chain disruptions and changing consumer preferences toward plant-based spreads. Keeping an eye on these factors will be crucial for anticipating market shifts and pricing adjustments in Latvia's butter and dairy spreads market.
