Country Report

Butter and Margarine in

Butter and Spreads in Latvia

Oct 2020

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Executive Summary

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2020 IMPACT

Cash-strapped consumers trade butter for margarine and spreads in a bid to economise

Butter is expected to be slightly impacted by the pandemic in 2020 overall, with current value growth rates dropping marginally. Margarine and spreads on the other hand, is anticipated to see an improvement in current value growth rates.

Tukuma Piens AS maintains it leads as the company priorities innovation

Tukuma Piens AS will maintain its strong leading position in butter and spreads in 2020, gaining marginal value share and extending its lead over second-placed Rigas Piena Kombinats AS. Tukuma Piens is Latvia’s largest domestic butter producer and the company can attribute its leading position to its regular launches of new products.

Latvians avoid cooking fats amidst the pandemic in a bid to become healthier

Prior to the pandemic, cooking fats was underperforming due to its perceived unhealthy disposition. The growing health and wellness trend in Latvia has likely been encouraged by the pandemic, which has led to a further drop in demand for cooking fats.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Butter and Margarine industry in Latvia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Butter and Margarine industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Butter and Margarine in Latvia market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Butter and Margarine in Latvia?
What are the major brands in Latvia?
Are consumers in emerging markets moving from unpackaged to packaged oils and fats?
What are the sales prospects for “healthy” cooking oils?
Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than cooking at home?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our:

Packaged Food market research database.

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Butter and Spreads in Latvia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Cash-strapped consumers trade butter for margarine and spreads in a bid to economise

Tukuma Piens AS maintains it leads as the company priorities innovation

Latvians avoid cooking fats amidst the pandemic in a bid to become healthier

RECOVERY AND OPPORTUNITIES

Butter will continue to perform the best due to its perceived healthy image

Margarine and spreads and cooking fats will suffer from the growing health and wellness trend

Lidl’s private label will be well received amongst financially impaired Latvians

CATEGORY DATA

Table 1 Sales of Butter and Spreads by Category: Volume 2015-2020
Table 2 Sales of Butter and Spreads by Category: Value 2015-2020
Table 3 Sales of Butter and Spreads by Category: % Volume Growth 2015-2020
Table 4 Sales of Butter and Spreads by Category: % Value Growth 2015-2020
Table 5 NBO Company Shares of Butter and Spreads: % Value 2016-2020
Table 6 LBN Brand Shares of Butter and Spreads: % Value 2017-2020
Table 7 Distribution of Butter and Spreads by Format: % Value 2015-2020
Table 8 Forecast Sales of Butter and Spreads by Category: Volume 2020-2025
Table 9 Forecast Sales of Butter and Spreads by Category: Value 2020-2025
Table 10 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2020-2025
Table 11 Forecast Sales of Butter and Spreads by Category: % Value Growth 2020-2025

Packaged Food in Latvia - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on packaged food

COVID-19 country impact

Company response

Retailing shift

Foodservice vs retail split

What next for packaged food?

FOODSERVICE

Sales to Foodservice

COVID-19 wreaks havoc
Industry lobbying for a VAT cut, but it has yet to materialise
Restaurants turn to take away and home delivery for salvation

Category Data

Table 12 Foodservice Sales of Packaged Food by Category: Volume 2015-2020
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2020-2025
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2020-2025

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2015-2020
Table 17 Sales of Packaged Food by Category: Value 2015-2020
Table 18 Sales of Packaged Food by Category: % Volume Growth 2015-2020
Table 19 Sales of Packaged Food by Category: % Value Growth 2015-2020
Table 20 GBO Company Shares of Packaged Food: % Value 2016-2020
Table 21 NBO Company Shares of Packaged Food: % Value 2016-2020
Table 22 LBN Brand Shares of Packaged Food: % Value 2017-2020
Table 23 Penetration of Private Label by Category: % Value 2015-2020
Table 24 Distribution of Packaged Food by Format: % Value 2015-2020
Table 25 Distribution of Packaged Food by Format and Category: % Value 2020
Table 26 Forecast Sales of Packaged Food by Category: Volume 2020-2025
Table 27 Forecast Sales of Packaged Food by Category: Value 2020-2025
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2020-2025
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2020-2025

Megatrends

Country Report

Butter and Spreads in Latvia

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Cash-strapped consumers trade butter for margarine and spreads in a bid to economise

Tukuma Piens AS maintains it leads as the company priorities innovation

Latvians avoid cooking fats amidst the pandemic in a bid to become healthier

Overview

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Overview

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Table of Contents

Butter and Spreads in Latvia - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Cash-strapped consumers trade butter for margarine and spreads in a bid to economise

Tukuma Piens AS maintains it leads as the company priorities innovation

Latvians avoid cooking fats amidst the pandemic in a bid to become healthier

RECOVERY AND OPPORTUNITIES

Butter will continue to perform the best due to its perceived healthy image

Margarine and spreads and cooking fats will suffer from the growing health and wellness trend

Lidl’s private label will be well received amongst financially impaired Latvians

CATEGORY DATA

Packaged Food in Latvia - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on packaged food

COVID-19 country impact

Company response

Retailing shift

Foodservice vs retail split

What next for packaged food?

FOODSERVICE

Sales to Foodservice

Category Data

MARKET DATA

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DISCLAIMER

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