Between 2013 and 2023, the beer market in Latvia fluctuated with an overall downward trajectory despite some recovery years. The market reached a value of 123.1 million Euros in 2023, after a modest recovery from its lowest points in earlier years. The year-on-year variation from 2021 to 2023 saw negligible growth, while the compound annual growth rate (CAGR) over the last five years highlighted a slight downturn at -0.9%, reflecting ongoing challenges in sustaining long-term growth.
Future trends to watch for:
- Altering consumer preferences towards non-alcoholic and craft beer options may impact traditional beer market values.
- Economic factors, such as inflation and consumer spending habits, could further influence market size.
- Environmental and sustainability practices among producers may become a competitive advantage and impact market dynamics.
How does Latvia rank in Beer Market Size Value?
| # | 20 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 8,281,600,000 | 2023 | +0.19% | -0.56% | View data |
| 2 | 2 Spain | 6,450,900,000 | 2023 | +1.75% | +0.85% | View data |
| 3 | 3 United Kingdom | 5,969,700,000 | 2023 | -0.52% | +0.47% | View data |
| 4 | 4 Italy | 4,107,400,000 | 2023 | +1.29% | +0.24% | View data |
| 5 | 5 Poland | 2,841,700,000 | 2023 | -2.18% | -0.87% | View data |
| 17 | 17 Lithuania | 350,880,000 | 2023 | +6.45% | +1.49% | View data |
| 18 | 18 Slovakia | 305,920,000 | 2023 | +0.88% | -0.68% | View data |
| 19 | 19 Latvia | 123,100,000 | 2023 | +0.13% | -0.9% | |
| 20 | 20 Estonia | 106,340,000 | 2023 | -0.12% | +0.38% | View data |
