The hard candies market in Latvia has shown varied growth from 2013 to 2023, reaching a size of 1089.7 thousand kilograms in 2023. The market experienced considerable fluctuation over the decade, with a significant jump in 2017 (29.87% year-on-year increase). Growth stabilized from 2018 to 2020 with steady increases. However, there was a 6.45% decline in 2021, followed by a rebound in 2022 and 2023. The compound annual growth rate (CAGR) over the last five years was 1.71%, indicating modest overall growth.
Future trends to watch for in the Latvian hard candies market include:
- Increasing consumer interest in sugar-free or healthier confectionery options potentially affecting product offerings and market share.
- Innovation in flavors and packaging to attract a broader consumer base.
- Monitoring international influences and import trends that could impact local production and sales.
How does Latvia rank in Hard Candies Market Size Volume?
| # | 13 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 37,837,000 | 2023 | +0.82% | +0.44% | View data |
| 2 | 2 Spain | 27,443,000 | 2023 | +1.61% | +0.86% | View data |
| 3 | 3 France | 23,823,000 | 2023 | -0.59% | -2.25% | View data |
| 4 | 4 Poland | 10,120,000 | 2023 | -2.94% | -1.08% | View data |
| 5 | 5 Portugal | 4,377,500 | 2023 | +2.94% | +1.79% | View data |
| 10 | 10 Croatia | 1,734,200 | 2023 | -5% | -4.6% | View data |
| 11 | 11 Hungary | 1,392,900 | 2023 | -0.54% | -2.01% | View data |
| 12 | 12 Latvia | 1,089,700 | 2023 | +3.23% | +1.71% | |
| 13 | 13 Estonia | 786,090 | 2023 | -0.16% | +3.83% | View data |
