Over the past decade, the soft drinks market in Latvia has experienced fluctuations with significant declines between 2013 and 2017, followed by periods of growth and stability. By 2023, the market value stood at 104.24 million Euros. Negative growth rates were observed over the last two years, with a slight decrease in market value. The CAGR from 2018 to 2023 was 1.11%, indicating a moderate growth rate.
Future trends to watch for include:
- Health-conscious consumer preferences driving demand for low-sugar and natural ingredients.
- Innovation in product offerings, such as functional beverages.
- Potential impacts of economic conditions on consumer spending behavior.
How does Latvia rank in Soft Drinks Market Size Value?
| # | 21 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 10,830,000,000 | 2023 | +1.52% | +1.11% | View data |
| 2 | 2 United Kingdom | 10,115,000,000 | 2023 | +1.19% | +1.71% | View data |
| 3 | 3 Germany | 9,930,700,000 | 2023 | +0.92% | +0.63% | View data |
| 4 | 4 Spain | 8,337,900,000 | 2023 | -1.18% | -0.85% | View data |
| 5 | 5 Italy | 6,267,900,000 | 2023 | -0.13% | -1.01% | View data |
| 19 | 19 Lithuania | 189,030,000 | 2023 | +0.85% | +1.32% | View data |
| 20 | 20 Estonia | 130,080,000 | 2023 | +2.73% | +3.69% | View data |
| 21 | 21 Latvia | 104,240,000 | 2023 | -0.46% | +1.11% | |
