Key Market Indicators
Latvian food sales are projected to reach nearly €2 billion by 2026, up from €1.8 billion in 2021. This represents an average year-on-year growth rate of 1.3%. Since 2010, Latvian market growth has averaged 4.7% each year. In 2021, Latvia was ranked 29th, behind Bosnia and Herzegovina, France, Italy and Spain. Food expenditures in Latvia are forecast to reach €3.45 billion by 2026, up from €3.11 billion in 2021. This represents an average year-on-year growth rate of 1.7%. Since 2000, Latvian demand has risen 4.6% each year. In 2021, Latvia was ranked 27th, behind Slovenia, France, Italy and the United Kingdom. Food production in Latvia is expected to reach $1.25 billion by 2026, up from $1.21 billion in 2021. This represents an average year-on-year growth rate of 0.6%. Since 1997, Latvian supply has decreased by 1% each year. In 2021, Latvia was ranked 115th, behind Senegal, India, the United States and Brazil.