Market Insights Consumer Beauty & Personal Care

Skin Care - Latvia

Latvia

In Latvia, the revenue generated in the Skin Care market in 2024 is estimated to be US$66.34m.
It is projected to experience an annual growth rate of 0.95% (CAGR 2024-2029).
When comparing this figure globally, in the United States leads the way with a revenue of US$24,350m in 2024.
In terms of per person revenues, in Latvia is expected to generate US$36.65 in 2024.
This indicates the amount of revenue each individual contributes to the Skin Care market.
Looking ahead to 2024, it is anticipated that [max[maxNon-LuxuryRevenueShare]RevenueShareValue] of the overall sales in the Skin Care market will be attributed to [maxNon-LuxuryRevenueShare].
This segment represents a significant portion of the market's revenue.
The demand for natural and organic skincare products is growing rapidly in Latvia, as consumers prioritize eco-friendly and sustainable options.

Key regions: United Arab Emirates, Malaysia, United Kingdom, South Korea, Indonesia

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Data coverage:

The data encompasses B2C enterprises. 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 population, GDP per capita, and Human Development 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, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.