A premiumisation trend was evident in the baked goods category in 2019, especially within baked bread. This came in the form of bread with greater added value.
At the same time leading categories such as bread and pastries face maturity, which makes most important categories dependant on social factors, mainly declining population, which negatively affects volumes. Furthermore, due to accelerating lifestyles and increasing demand for convenience, Latvians are also making fewer desserts at home.
In line with the health trend in the country, Latvia is seeing an ongoing rise in the popularity of smaller portions. This is expected to continue over the forecast period.
Latvijas Maiznieks AS remained the leader of baked goods in 2019. The company has a strong offer of products across the category.
Staburadzes Konditoreja SIA remained among the top five players in the baked goods category in 2019, underpinned by its lead in packaged cakes. In future the company seeks to improve the efficiency of production, as well as develop the quality of the manufactured products.
With consumers’ increasing interest in health and wellness, coupled with urbanisation, rising spending power and the growing number of single-person households, artisanal products demonstrated the most notable share gain in 2019, eroding the shares held by some local manufacturers. Meanwhile, local players are becoming more socially responsible.
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This industry report originates from Passport, our Packaged Food market research database.