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Other Sauces - Latvia

Latvia
  • Revenue in the Other Sauces market amounts to US$56.02m in 2024. The market is expected to grow annually by 5.46% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$38bn in 2024).
  • In relation to total population figures, per person revenues of US$30.95 are generated in 2024.
  • In the Other Sauces market, volume is expected to amount to 16.26m kg by 2029. The Other Sauces market is expected to show a volume growth of 3.0% in 2025.0.
  • The average volume per person in the Other Sauces market is expected to amount to 7.8kg in 2024.

Definition:

The Other Sauces market covers different types of sauces, excluding ketchup, that are used to improve the flavor, texture, and appearance of a dish. Examples include mustard, mayonnaise, soy sauce, BBQ sauce, and other emulsified sauces as well as products for preparing sauces, i.e., gravy granules and bouillon cubes.

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.

In-Scope

  • Soya sauce
  • Mayonnaise
  • Mustard
  • Pre-mixed sauces, hot sauce
  • Seasoning sauce, Worcestershire sauce
  • Barbecue sauce, teriyaki sauce
  • Hoisin sauce, oyster sauce, fish sauce, peanut sauce
  • Chili sauce, pesto sauce, sriracha sauce, remoulade sauce, ponzu sauce

Out-Of-Scope

  • Tomato ketchup
  • Tomato sauces
  • Out-of-home consumption

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Nov 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Analyst Opinion

The Other Sauces market in Latvia, within the Sauces & Spices market, is seeing minimal growth due to factors such as low consumer awareness and limited availability of online services. Despite this slow growth rate, the market is still being driven by the increasing adoption of digital technologies and rising health consciousness among consumers.

Customer preferences:
The demand for healthier and more natural ingredients in sauces is growing in Latvia. As consumers become more health-conscious, they are looking for options that are free from additives and preservatives. This trend is also influenced by the growing popularity of plant-based and vegetarian diets in the country. As a result, there is a rise in the availability of organic and vegan sauces in the Other Sauces Market, catering to the changing preferences of consumers. This shift towards healthier options reflects the evolving lifestyle choices of the Latvian population.

Trends in the market:
In Latvia, the Other Sauces Market within the Sauces & Spices Market is experiencing a trend towards healthier and more diverse options. There is a growing demand for organic and plant-based sauces, as well as sauces with reduced sugar and salt content. This trend is driven by the increasing health consciousness of consumers and their desire for more sustainable and ethical food choices. As a result, industry players are introducing new products to cater to this demand, such as vegan-friendly and gluten-free sauces. This shift towards healthier options is expected to continue, presenting opportunities for industry stakeholders to innovate and expand their product offerings. Additionally, with the rise of e-commerce and online grocery shopping, there is a growing trend of purchasing sauces and spices online, providing a new avenue for market growth and reaching a wider consumer base.

Local special circumstances:
In Latvia, the Other Sauces Market of the Sauces & Spices Market within The Food market is heavily influenced by the country's rich culinary tradition and its use of local ingredients such as caraway seeds, dill, and juniper berries. The market is also shaped by the country's strict regulations on food safety and labeling, ensuring high quality standards for consumers. Additionally, the growing trend towards healthier eating habits has led to the popularity of organic and natural sauces, further driving the growth of the market.

Underlying macroeconomic factors:
The Other Sauces Market in Latvia is also influenced by macroeconomic factors such as consumer preferences, health consciousness, and economic growth. With an increasing demand for healthier food options, there has been a shift towards natural and organic ingredients in sauces, leading to the growth of the market. Additionally, a growing economy and rising disposable income have increased consumer spending on food products, further driving the growth of the Other Sauces Market in Latvia. Moreover, the government's supportive policies towards promoting the food industry and increasing investments in food processing technologies have also positively impacted the market's performance.

Methodology

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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