Bread - Latvia | Statista Market Forecast

Bread - Latvia

Latvia

Highlights

Revenue in the Bread market amounts to US$292.40m in 2024. The market is expected to grow annually by 4.76% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$161.50 are generated in 2024.
In the Bread market, volume is expected to amount to 116.70m kg by 2029. The Bread market is expected to show a volume growth of 2.9% in 2025.0.
The average volume per person in the Bread market is expected to amount to 58.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Bread market in Latvia is experiencing minimal growth, influenced by factors like low consumer health awareness, limited adoption of digital technologies, and the lack of convenience in online bread services. Despite this, the market is steadily expanding within The Food market, driven by traditional bread-making practices and the demand for staple foods.

Customer preferences: As in the previous paragraph, consumer preferences in the Bread Market of the Bread & Cereal Products Market within The Food market are shifting towards healthier, more sustainable options. There is a growing demand for locally sourced, organic bread products, as well as gluten-free and plant-based options. This trend is driven by the increasing awareness of the health and environmental benefits of these products, as well as the growing interest in supporting local businesses and reducing carbon footprint.

Trends in the market: In Latvia, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, with a growing demand for whole grain, gluten-free, and organic bread. This trend is driven by consumers' increasing focus on health and wellness, as well as the rising prevalence of dietary restrictions and food intolerances. As a result, industry stakeholders are investing in product innovation and marketing strategies to cater to this demand and stay competitive. This trend is expected to continue in the future, as consumers become more health-conscious and seek out nutritious and clean label options in their bread choices.

Local special circumstances: In Latvia, the Bread Market of the Bread & Cereal Products Market is influenced by the country's rich agricultural heritage and the use of locally sourced ingredients in bread production. This emphasis on traditional methods and high-quality ingredients has resulted in a unique and diverse range of bread varieties, such as rye bread and sourdough bread. Additionally, Latvia's strong cultural ties to bread as a staple food have led to a high demand for artisanal and specialty breads. Furthermore, the government's regulations on food safety and labeling ensure that consumers can trust the quality and origin of the bread they purchase. These factors contribute to the stability and growth of the Bread Market in Latvia.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Latvia is influenced by various macroeconomic factors. These include the overall economic health of the country, global economic trends, fiscal policies, and other relevant financial indicators. For instance, a stable economy and favorable fiscal policies can boost consumer spending and drive demand for bread products. On the other hand, an economic downturn or unstable fiscal policies may lead to reduced consumer purchasing power and lower demand for bread products. Additionally, factors such as changes in consumer preferences, population growth, and urbanization can also impact the bread market in Latvia.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

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, and consumer price 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 Food 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. The market is updated twice a year.