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According to TNS, a market research company, dark chocolate appeals largely to an adult audience. Moreover, the ageing population trend in Latvia is putting pressure on producers to cater to an older consumer base.
Chocolate-covered fruit and fruit-covered chocolate provide growth opportunities
A new product category emerged in 2018, consisting of chocolate-covered fruits and berries and their combinations. This innovation is driven by chocolate manufacturers, but also niche fruit and healthy snack producers, in order to compete with and differentiate their products from increasingly popular health-orientated snacks and snack bars.
Laima remains the leading player
Due to heightened national sentiment associated with Latvia’s centenary, Latvian brands or brands that originated in Latvia and have a long history in the country received additional attention. For example, Laima actively participated in the promotion of the Latvian Song Festival by donating two tonnes of chocolate bars.
Gradual concentration of the competitive landscape
Despite the presence of numerous brands in chocolate confectionery, there has been a gradual concentration of the competitive landscape towards the end of the review period. The top two brands, Laima and Milka, have taken advantage of considerable economies of scale to consolidate their positions and increase the entry barriers for potential new players.
Investment in technology pays dividends
One of the key new product launches of 2018 was Ruby Kit Kat pink chocolate bar. In launching the new product with the support of local social media influencers, it received quick recognition and enjoyed fast popularity from a younger audience.
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Discover the latest market trends and uncover sources of future market growth for the Chocolate confectionery 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 Chocolate confectionery industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Chocolate confectionery 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 Chocolate confectionery in Latvia?
What are the major brands in Latvia?
What are market opportunities for health and wellness minded dark chocolate?
What are market opportunities for ethically sourced chocolate?
How might increasingly volatile cocoa bean commodity prices impact retail prices and sales performance?
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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
Local companies play prominent role in fragmented market
Rimi Latvia driving hypermarkets expansion
Constraints on growth in forecast period
Sales to Foodservice
Convenience a key driver Lines between foodservice and retail blurring Healthy positioning boosting sales in growth caetgories
Busy lifestyles driving fast food growth More cosmopolitan tastes reflected in full-service restaurant diversification Growing interest in vegan diets in Riga
Table 1 Foodservice Sales of Packaged Food by Category: Volume 2013-2018 Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018 Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023 Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 5 Sales of Packaged Food by Category: Volume 2013-2018 Table 6 Sales of Packaged Food by Category: % Volume Growth 2013-2018 Table 7 Sales of Packaged Food by Category: % Value Growth 2013-2018 Table 8 GBO Company Shares of Packaged Food: % Value 2014-2018 Table 9 NBO Company Shares of Packaged Food: % Value 2014-2018 Table 10 LBN Brand Shares of Packaged Food: % Value 2015-2018 Table 11 Penetration of Private Label by Category: % Value 2013-2018 Table 12 Distribution of Packaged Food by Format: % Value 2013-2018 Table 13 Distribution of Packaged Food by Format and Category: % Value 2018 Table 14 Forecast Sales of Packaged Food by Category: Volume 2018-2023 Table 15 Forecast Sales of Packaged Food by Category: Value 2018-2023 Table 16 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023 Table 17 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023
Summary 1 Research Sources
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.