Despite high prices and declining purchasing power in Latvia, retail volume sales of butter sales are forecast to be stable over the forecast period as butter is a key, staple product that is well supported by manufacturers (offering private label and promotions). Decline, however, is expected in the foodservice sector as Latvians are expected to eat out less frequently over the forecast period due to economic uncertainty in the country.
The fight for consumers is set to intensify amongst manufacturers over the forecast period, and new product developments will drive future sales. It is anticipated that innovations will be centred on healthier and functional variants, with an emphasis on plant-based offerings catering to vegetarian and vegan diets, alongside lactose-free, organic, and sustainably-produced products.
Further share growth of discounters and private label is expected as Lidl continues to expand over the forecast period. The opening of Lidl came at a perfect time as many Latvians have been financially impaired by the pandemic and are therefore keen to shop at a budget supermarket.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Butter and Spreads
This is the aggregation of butter, cooking fats and margarine and spreads.
See All of Our DefinitionsThis report originates from Passport, our Butter and Spreads research and analysis database.
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