Latvia

The year 2023 marks a period of stagnation for the processed fruit and vegetables category in Latvia, with volume growth dropping to minimal. While the market is gradually recovering from the severe price inflation experienced in 2022, new economic…

The premium segment represents a relatively small proportion of beauty and personal care in Latvia. Nonetheless, in value terms, premium products are growing at almost twice the pace of mass products. Consumer preferences for premium products is well…

Shoe polish experienced the most rapid growth in volume terms in 2023. This market expansion can be attributed to the rising population, primarily driven by the influx of Ukrainian refugees, contributing to Latvia's population growth. However,…

Plant-based dairy has grown rapidly from a low base in Latvia; however, growth is slowing due to the high prices of plant-based products as the purchasing power of the population is declining due to economic uncertainty in the country. Consuming…

Improving state finances and effective control of corruption are adding to Latvia’s economic freedom, but relations with neighbours continue to be tense. Economic momentum is moderating, owing to high inflation that is hitting consumption, but the…