Market Insights Consumer Food Bread & Cereal Products

Other Cereal Products - Latvia

Latvia

Revenue in the Other Cereal Products market amounts to €118.60m in 2024. The market is expected to grow annually by 4.03% (CAGR 2024-2029).
In global comparison, most revenue is generated in Egypt (€13,880m in 2024).
In relation to total population figures, per person revenues of €65.51 are generated in 2024.
In the Other Cereal Products market, volume is expected to amount to 37.09m kg by 2029. The Other Cereal Products market is expected to show a volume growth of 2.1% in 2025.
The average volume per person in the Other Cereal Products market is expected to amount to 19.1kg in 2024.

Key regions: Canada, Spain, South Korea, United States, Japan

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Other Cereal Products Market in Latvia has seen minimal growth, influenced by factors such as low consumer awareness, limited access to digital technologies, and traditional food preferences. Despite this, convenience and health awareness are driving a gradual increase in demand for online cereal products.

Customer preferences: As consumers in Latvia become more health-conscious, there has been a growing demand for alternative cereal products such as quinoa, amaranth, and millet. These ancient grains are perceived as healthier options due to their high nutrient content and gluten-free nature. Additionally, there has been a rise in the popularity of plant-based diets, leading to an increase in demand for cereal products made from alternative sources such as rice, oats, and buckwheat. This trend is driven by a growing awareness of the environmental and health benefits of reducing meat consumption.

Trends in the market: In Latvia, the Other Cereal Products Market within the Bread & Cereal Products Market is experiencing a surge in demand for gluten-free and organic options, as consumers become more health-conscious and aware of food allergens. This trend is expected to continue, with a focus on sustainable and locally-sourced ingredients. As a result, industry stakeholders are investing in research and development to meet these changing consumer preferences, while also considering the potential impact of Brexit on import and export of these products. Additionally, there is a potential for increased competition from other European countries as the market becomes more integrated.

Local special circumstances: In Latvia, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's traditional cuisine and cultural preferences. Rye bread, for example, is a staple in Latvian cuisine and is incorporated in various other cereal products. Additionally, the country's strict regulations on food labeling and quality control ensure that locally produced cereals are of high quality, making them preferred by consumers. These factors contribute to the unique characteristics of the Other Cereal Products Market in Latvia.

Underlying macroeconomic factors: The Other Cereal Products Market within the Bread & Cereal Products Market of The Food market in Latvia is also impacted by macroeconomic factors. These include global economic trends, such as shifts in consumer preferences towards healthier and more natural food options, as well as national economic health and fiscal policies. Other relevant financial indicators, such as inflation rates and currency exchange rates, also play a role in the market's performance. Additionally, the increasing focus on sustainable and environmentally friendly practices in the food industry is driving demand for cereal products made from alternative grains and ingredients, further shaping the market landscape in Latvia.

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.