Bread & Cereal Products - Latvia | Statista Market Forecast

Revenue in the Bread & Bakery Products market amounts to US$509.40m in 2024. The market is expected to grow annually by 4.60% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$278bn in 2024).
In relation to total population figures, per person revenues of US$281.40 are generated in 2024.
In the Bread & Bakery Products market, volume is expected to amount to 178.10m kg by 2029. The Bread & Bakery Products market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Bread & Bakery Products market is expected to amount to 89.7kg in 2024.

Definition:

The Bread & Cereal Products market covers baked goods made from dough. Dough consists of flour, water, a leavening agent, and other optional ingredients. Cereal products are made from a variety of grains, such as wheat, oats, and rice.

Structure:

The market consists of five different submarkets:

The Bread market covers baked goods made from dough which consist of flour, water, a leavening agent, and other optional ingredients.
The Pasta market covers fresh and dried pasta and noodles made from cereals that are usually used as part of a main meal.
The Rice market covers several rice varieties, such as long-grain rice, medium-grain rice, short-grain rice, white rice, brown rice, and wild rice, as well as sticky rice and parboiled rice.
The Breakfast Cereals market covers muesli and other grain-based breakfast products such as corn flakes and oats.
The Other Cereal Products market covers other products that are made from cereals, such as flour, baking flour, semolina, couscous, and bulgur.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Fresh bread and bread rolls
Pasta
Rice
Breakfast cereals
Other cereal products (e.g. Flour, couscous, bulgur)

Biscuits
Cookies
Crackers
Cakes
Baby rice cereals and other baby cereals
Ready-to-eat meal based on cereals
Out-of-home consumption

The Bread & Cereal Products Market in Latvia is experiencing minimal growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the convenience of online shopping. Despite the presence of sub-markets like Pasta and Breakfast Cereals, the overall market is facing challenges in maintaining a steady growth rate. This can be attributed to the competitive landscape and changing dietary trends.

Customer preferences: As more consumers prioritize health and wellness, there has been a growing demand for gluten-free and organic bread and cereal products in Latvia. This trend is driven by a shift towards healthier eating habits and a growing awareness of food sensitivities and allergies. Additionally, there has been an increase in demand for locally sourced and artisanal bread and cereal products, reflecting a preference for high-quality and sustainably-produced foods.

Trends in the market: In Latvia, the Bread & Cereal Products market is seeing a shift towards healthier and more sustainable options, with consumers increasingly prioritizing products made with ancient grains and locally sourced ingredients. This trend is expected to continue, driven by growing health consciousness and demand for transparent and ethical food production. As a result, industry stakeholders may need to adapt their product offerings and marketing strategies to cater to these changing consumer preferences. Additionally, there is a growing trend towards online shopping for groceries, which may impact traditional brick-and-mortar retailers in the Bread & Cereal Products market. It is important for industry players to stay updated on these trends and embrace innovation to stay competitive in the evolving market landscape.

Local special circumstances: In Latvia, the Bread & Cereal Products Market is heavily influenced by the country's rich agricultural heritage and traditional farming practices. The use of high-quality, locally-sourced ingredients is highly valued, resulting in a unique and diverse range of products. Additionally, government regulations promoting sustainable farming and production methods have led to a growing demand for organic and artisanal bread and cereal products. This emphasis on quality and sustainability sets the market apart from others and drives consumer preferences.

Underlying macroeconomic factors: The Bread & Cereal Products Market in Latvia is heavily influenced by macroeconomic factors such as consumer spending, inflation rates, and government policies. With rising disposable income and a stable economy, consumers in Latvia are able to allocate a larger portion of their budget towards food products, driving market growth. Additionally, government initiatives to support local agricultural production and promote healthy eating habits have also played a role in shaping the market landscape. Furthermore, global economic trends, such as fluctuations in commodity prices and trade policies, can impact the cost of raw materials and ultimately affect the prices of bread and cereal products in the market.

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.

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

Diets in high-income countries such as the United States consist of a lot of fats, animal products, sweeteners, and other products in addition to the ever-present food staples such as bread. Despite the comparatively lower share of staples in the food supply of these nations, staples still make up the majority of food intake. For example, consumers in the United States eat quite a lot of bread annually. Bread consumption in the U.S. amounts to 6.64 billion kilograms, or 19.84 kilograms per capita. In addition to bread, Americans consume a sizable amount of cake and pastry goods, namely 8.6 billion kilograms in 2022.