Market Insights Consumer Food Vegetables

Processed & Frozen Vegetables - Latvia

Latvia

Revenue in the Processed & Frozen Vegetables market amounts to €75.93m in 2024. The market is expected to grow annually by 4.38% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€53,350m in 2024).
In relation to total population figures, per person revenues of €41.94 are generated in 2024.
In the Processed & Frozen Vegetables market, volume is expected to amount to 30.25m kg by 2029. The Processed & Frozen Vegetables market is expected to show a volume growth of 2.1% in 2025.
The average volume per person in the Processed & Frozen Vegetables market is expected to amount to 15.3kg in 2024.

Key regions: China, Canada, Russia, India, Japan

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Analyst Opinion

The Processed & Frozen Vegetables Market in Latvia is experiencing minimal growth, impacted by factors such as limited availability of land for cultivation, changing consumer preferences, and increasing demand for fresh produce. Despite this, the market is expected to see steady growth due to rising health consciousness and convenience of frozen and processed vegetables.

Customer preferences: As technology continues to advance, consumers in Latvia are increasingly turning to online shopping for their processed and frozen vegetables. This shift is driven by convenience and accessibility, as well as a growing awareness of the benefits of frozen vegetables in terms of nutrition and shelf life. Furthermore, the rising trend of plant-based diets and vegetarianism has also contributed to the demand for processed and frozen vegetables in the market.

Trends in the market: In Latvia, the Processed & Frozen Vegetables Market within The Food market is experiencing a shift towards healthier and more sustainable options. This trend is driven by increasing consumer awareness and demand for plant-based alternatives. In addition, there is a growing interest in convenience and time-saving options, leading to a rise in demand for pre-cut and pre-packaged frozen vegetables. This trend is expected to continue, with industry players investing in innovative packaging and processing technologies to meet consumer needs. However, there may be challenges in terms of supply chain disruptions and pricing pressures, which could impact industry profitability. Overall, the trajectory of these trends highlights the need for industry stakeholders to adapt and innovate to stay competitive in the market.

Local special circumstances: In Latvia, the Processed & Frozen Vegetables Market is heavily influenced by the country's rich agricultural history and its geographical location. The abundance of fertile land and favorable climate conditions contribute to the production of high-quality vegetables, making it a key player in the European market. Additionally, strict regulations on food safety and quality standards ensure that the processed and frozen vegetables meet the highest standards, making them popular among health-conscious consumers. The country's strong cultural ties to traditional and locally sourced food also drive demand for locally produced vegetables, creating a unique market environment unlike any other in Europe.

Underlying macroeconomic factors: The Processed & Frozen Vegetables Market of the Vegetables Market within The Food market in Latvia is impacted by various macroeconomic factors. These include global economic trends, such as changes in consumer preferences and demand for healthy and convenient food options. Additionally, national economic health, fiscal policies, and other financial indicators also play a role in shaping the market. For instance, a stable and growing economy can lead to increased spending on processed and frozen vegetables, while an economic downturn may result in reduced consumer spending. Furthermore, government initiatives to promote healthy eating habits and support the growth of the food industry can positively influence market 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.