In 2023, the bread market size in Latvia was valued at 112.44 million Euros, showing a decreasing trend. Over the last decade, significant fluctuations were observed, with values peaking in 2013 at 132.59 million Euros. The market encountered a sharp decline from 2017 to 2023, particularly with the most notable drops in 2017 and 2021. The year-on-year variations highlight consistent negative trends, declining each year from 2021 onward. The compound annual growth rate (CAGR) over the last five years shows an average annual decrease of 1.5%, indicating a shrinking market.
Looking ahead, factors such as changes in consumer preferences, shifts towards healthier options, and potential economic impacts on consumer spending could influence future market trends. Monitoring these trends will be crucial for stakeholders to adapt strategies and potentially reverse the declining trajectory.
How does Latvia rank in Bread Market Size Value?
| # | 24 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 16,414,000,000 | 2023 | +1.33% | +1.12% | View data |
| 2 | 2 United Kingdom | 4,937,100,000 | 2023 | -0.41% | +0.4% | View data |
| 3 | 3 Italy | 4,808,400,000 | 2023 | -0.93% | -1.13% | View data |
| 4 | 4 Spain | 3,680,100,000 | 2023 | +1% | +0.71% | View data |
| 5 | 5 France | 2,477,800,000 | 2023 | +1.41% | +1.24% | View data |
| 21 | 21 Lithuania | 146,400,000 | 2023 | -1.36% | -1.15% | View data |
| 22 | 22 Slovakia | 141,420,000 | 2023 | -0.0074% | -0.042% | View data |
| 23 | 23 Latvia | 112,440,000 | 2023 | -1.16% | -1.5% | |
| 24 | 24 Estonia | 109,390,000 | 2023 | +1.74% | -0.043% | View data |
