Health and wellness were the watchwords for producers in 2018. The year was marked by the introduction of a low calorie brand, Red, which began by offering three dark chocolate products.
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.
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.
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.
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.
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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This industry report originates from Passport, our Packaged Food market research database.