Despite the gradual return to normality after the COVID-19 pandemic, consumption of baked goods is set to decline over the forecast period. Not only is Latvia’s population in decline but increasing economic uncertainty is slowing demand in foodservice and retail channels.
The demand for vegan and gluten free products will continue to increase in the cakes, pastries and other baked goods segments, linked to the health and wellness trend and consumers avoiding gluten to improve general wellbeing. Although some Latvians do not religiously follow gluten-free nutrition, some are curious about product taste and textures – resulting in the growing demand for items.
In October 2021, German chain Lidl opened its first stores in Latvia and it now has some 19 retail outlets located in the country. As it expands its store network over the course of the forecast period, the competitive pressure on manufacturers of branded baked goods is only likely to intensify.
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This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: Baked goods from in-store bakeries are classified under unpackaged/artisanal, not packaged/industrial. While they may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which have in the past been used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available.See All of Our Definitions
This report originates from Passport, our Baked Goods research and analysis database.
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