The soft drinks market in Latvia reached a volume of 250.74 million liters in 2023, marking a modest growth of 0.23% from the previous year. Over the past decade, the market has experienced fluctuations, peaking in 2018, but largely remained stable with minor variations. Although the five-year compound annual growth rate (CAGR) stands at -0.85%, indicating a slight downward trend, year-on-year figures for 2022 and 2023 show marginal increases, suggesting a potential stabilization in the market.
Future trends to watch for:
- Increased consumer awareness of health-leading trends may shift preferences to low-sugar or functional beverages.
- Innovation in sustainable packaging could become a priority as eco-consciousness rises.
- Adapting to digital transformation in marketing and sales channels to maintain competitive advantage.
How does Latvia rank in Soft Drinks Market Size Volume?
| # | 19 Countries | Liters | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 22,810,000,000 | 2023 | +1.56% | +0.41% | View data |
| 2 | 2 France | 15,616,000,000 | 2023 | +0.67% | +0.96% | View data |
| 3 | 3 Spain | 13,270,000,000 | 2023 | +0.6% | -0.79% | View data |
| 4 | 4 United Kingdom | 12,491,000,000 | 2023 | +1.5% | +1.61% | View data |
| 5 | 5 Poland | 9,276,600,000 | 2023 | +1.69% | +1.05% | View data |
| 16 | 16 Croatia | 590,100,000 | 2023 | +0.093% | -2.89% | View data |
| 17 | 17 Lithuania | 430,900,000 | 2023 | +1.65% | +0.21% | View data |
| 18 | 18 Latvia | 250,740,000 | 2023 | +0.23% | -0.85% | |
| 19 | 19 Estonia | 213,310,000 | 2023 | +1.22% | +3.84% | View data |
