The not-filled boxed chocolate market in Latvia experienced fluctuations from 2013 to 2023. In 2023, the market size stood at 1.6343 million euros. Over the past decade, growth was inconsistent, with the market seeing significant declines in 2018 and 2022, by 20.95% and 9.91% respectively. The recent years indicate a downward trend with a year-on-year decrease: -9.91% in 2022, and -3.32% in 2023. The five-year CAGR from 2018 to 2023 was -0.31%, encapsulating the overall decline in this period.
Future trends to watch for:
- The impact of changing consumer preferences towards healthier confectionery products.
- Potential market rejuvenation through innovative product offerings or packaging.
- Economic factors affecting consumer spending power and luxury goods consumption.
- Trends in sustainability influencing buying habits, especially in packaging.
| # | 12 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 797,080,000 | 2023 | -0.8% | -0.49% | View data |
| 2 | 2 United Kingdom | 523,700,000 | 2023 | +1.15% | +1.03% | View data |
| 3 | 3 Spain | 91,891,000 | 2023 | +2.15% | +3.58% | View data |
| 4 | 4 Hungary | 64,362,000 | 2023 | +5.92% | +4.99% | View data |
| 5 | 5 Austria | 40,831,000 | 2023 | -15.55% | -10.21% | View data |
| 10 | 10 Bulgaria | 6,747,700 | 2023 | +1.12% | +1.39% | View data |
| 11 | 11 Czech Republic | 3,382,500 | 2023 | -12.58% | -9.63% | View data |
| 12 | 12 Latvia | 1,634,300 | 2023 | -3.32% | -0.31% | |
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