Alcoholic Drinks - Latvia | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Alcoholic Drinks market amounts to US$748.8m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$264.0m in 2024.
Revenue, combined amounts to US$1.0bn in 2024.
The revenue, at home is expected to grow annually by 1.46% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$208bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$413.70 are generated in 2024.
In the Alcoholic Drinks market, volume, at home is expected to amount to 172.6m L by 2024.
Volume, out-of-home is expected to amount to 20.0m L in 2024.
Volume, combined is expected to amount to 192.6m L in 2024.
The Alcoholic Drinks market is expected to show a volume growth, at home of -1.4% in 2025.0.
The average volume per person, at home in the Alcoholic Drinks market is expected to amount to 95.36L in 2024.

Definition:

The Alcoholic Drinks market includes all alcoholic beverages that are produced by fermentation or distillation.

Structure:

The Alcoholic Drinks market is divided into 5 markets:

The Beer market encompasses fermented beverages based on malt. The Beer market is further divided into the markets Alcoholic Beer and Non-Alcoholic Beer.
The Spirits market encompasses alcoholic beverages that are produced through the distillation of wine, fermented fruits, or grains. It contains the Whisky, Vodka, Rum, Gin, Brandy, Soju, Tequila, and Liqueurs & Other Spirits markets.
The Wine market encompasses all fermented juices made from grapes. The Wine market is further divided into Still Wine (Red Wine, White Wine, and Rosé Wine), Sparkling Wine, and Fortified Wine.
The Cider, Perry & Rice Wine market encompass all wines made from fruits other than grapes, grains, or other plants.
The Hard Seltzer market encompasses alcoholic beverages made with carbonated water, alcohol, and often fruit flavoring.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Anheuser-Busch InBev (e.g., Corona, Bud Light, and Michelob), Diageo (e.g., Johnnie Walker, Guinness, and Tanqueray), Heineken, and Molson Coors.

Alcoholic & Non-Alcoholic Beer
Wine
Spirits
Cider, Perry and Rice Wines
Hard Seltzer

Non-Alcoholic Beverages derived from Wine or Spirits

The Alcoholic Drinks market in Latvia has experienced steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Alcoholic Drinks market in Latvia have shifted towards premium and craft products. Consumers are increasingly seeking out high-quality and unique beverages, opting for craft beers, artisanal spirits, and premium wines. This trend is driven by a desire for more authentic and distinctive drinking experiences, as well as a growing interest in supporting local producers. Additionally, health-conscious consumers are seeking out low-alcohol and non-alcoholic options, leading to an increase in the availability and variety of these products in the market. One of the key trends in the Alcoholic Drinks market in Latvia is the rise of craft beer. Craft breweries have been popping up across the country, offering a wide range of unique and flavorful beers. This trend is fueled by the growing popularity of craft beer globally, as well as the increasing demand for locally-produced and artisanal products. Craft beer festivals and events have also gained traction in Latvia, providing a platform for breweries to showcase their offerings and attract new customers. Another trend in the market is the growing interest in premium and imported wines. Latvian consumers are becoming more knowledgeable about wine and are willing to spend more on higher-quality bottles. This trend is driven by a desire for sophistication and a taste for international flavors. Wine bars and specialized wine shops have emerged to cater to this demand, offering a curated selection of wines from around the world. Local special circumstances also play a role in shaping the Alcoholic Drinks market in Latvia. The country has a long-standing tradition of brewing and distilling, with a rich history of producing beer, vodka, and other spirits. This heritage contributes to the strong presence of local brands and the popularity of traditional drinks. Additionally, Latvia's geographical location and climate have an impact on the market, with seasonal variations in consumption patterns. For example, the demand for beer tends to be higher during the summer months, while spirits are more popular during the winter holidays. Underlying macroeconomic factors also influence the development of the Alcoholic Drinks market in Latvia. The country's stable economic growth and rising disposable incomes have contributed to increased consumer spending on alcoholic beverages. Additionally, the growing tourism industry in Latvia has boosted the demand for alcoholic drinks, as visitors seek to experience the local drinking culture and try traditional beverages. In conclusion, the Alcoholic Drinks market in Latvia is evolving to meet changing customer preferences, with a focus on premium and craft products. The rise of craft beer, the growing interest in premium wines, and the influence of local special circumstances are key trends driving the market. These trends are supported by underlying macroeconomic factors such as economic growth and tourism.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The alcoholic beverage market is recovering after several years of downturn. Larger forces like the COVID-19 pandemic, the Russian invasion of Ukraine and the ensuing inflation have either been resolved or accepted as part of the current market environment. Regional conditions vary as consumers in some areas of the world are changing their alcohol preferences while other regions are continuing to feel the effects of less discretionary spending from consumers.