The processed herrings market in Latvia saw considerable fluctuation between 2013 and 2023, beginning at 2.9975 million kilograms and reaching 4.266 million kilograms in 2023. After witnessing an initial drop in 2013, the market rebounded significantly in 2014, with fluctuations in the following years. Noteworthy is the growth from 2019 to 2023, despite minor setbacks, showcasing resilience and a promising upswing, marked by a year-on-year growth of 2.06% in 2023. The compound annual growth rate (CAGR) for the last five years stands at 2.14%, indicating moderate but consistent growth.
Future trends to watch for:
- Increased health awareness may drive demand for preserved fish products due to their nutritional benefits.
- Technological advancements in packaging and preservation could enhance market growth.
- Potential shifts in consumer preferences towards local and sustainable food sources may impact supply dynamics.
- Global economic conditions and supply chain factors might influence production costs and pricing structures.
How does Latvia rank in Processed Herrings, Whole or in Pieces (Excluding Minced Products and Prepared Meals and Dishes) Market Size Volume?
| # | 5 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 114,390,000 | 2023 | +0.64% | +1.03% | View data |
| 2 | 2 Germany | 73,850,000 | 2023 | -2.74% | +4.35% | View data |
| 3 | 3 Belgium | 5,780,500 | 2023 | +2.49% | +3.11% | View data |
| 4 | 4 Romania | 4,583,200 | 2023 | +3.47% | +9.96% | View data |
| 5 | 5 Latvia | 4,266,000 | 2023 | +2.06% | +2.14% |
