The per capita market size for polishes and creams for footwear or leather in Latvia has moderately fluctuated over the past decade. Starting at $1.31 in 2013, it gradually decreased to $1.05 in 2023. Notable years include a decrease in value to $0.89 in 2020, likely influenced by the pandemic, followed by a recovery. Year-on-year changes show a stable market from 2022 to 2023, with a negligible decrease of 0%. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) is approximately -1.58%.

Looking forward, potential future trends include a slow recovery in demand as the market stabilizes post-COVID-19. Additionally, increasing consumer awareness about the sustainability of leather products and potential innovations in eco-friendly polishes could drive future growth. Monitoring economic conditions will be crucial to understand consumers' spending capacity on such non-essential goods.

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