The tea market in Latvia has experienced fluctuations over the past decade with a notable decline from 2013 to 2019. However, the market rebounded significantly from 2020 onward, reaching a market size value of 10.025 Million Euros in 2023. Year-on-year growth has been substantial over the last two years, showing increases of 10.02% in 2022 and 9.38% in 2023. The compound annual growth rate over the last five years stands at 9.27%, indicating a strong upward trajectory.
Future trends to watch for include:
- Increasing consumer preference for premium and organic tea varieties.
- Growth of online tea retailing due to changing consumption patterns.
- Potential impact of global supply chain issues and economic factors on pricing and availability.
| # | 14 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Romania | 2,192,900,000,000 | 2023 | +7.39% | +818.99% | View data |
| 2 | 2 United Kingdom | 795,240,000 | 2023 | -2.47% | -0.83% | View data |
| 3 | 3 France | 289,290,000 | 2023 | +3.83% | +3.38% | View data |
| 4 | 4 Germany | 165,930,000 | 2023 | -2.08% | -0.87% | View data |
| 5 | 5 Italy | 100,490,000 | 2023 | -1.46% | +1.33% | View data |
| 9 | 9 Lithuania | 22,093,000 | 2023 | +2.1% | +2.72% | View data |
| 10 | 10 Finland | 16,170,000 | 2023 | -0.97% | -0.38% | View data |
| 11 | 11 Latvia | 10,025,000 | 2023 | +9.38% | +9.27% | |
| 12 | 12 Estonia | 6,400,300 | 2023 | -2.7% | -1.39% | View data |
| 13 | 13 Croatia | 3,873,100 | 2023 | +1.79% | +2.48% | View data |
