Drinking milk products is expected to be negatively impacted by the pandemic in 2020 overall. Current value growth rates are expected to drop noticeably across the majority of the product areas.
Local players will remain dominant in the supply of drinking milk products in 2020, with Rigas Piena Kombinats AS well ahead of its closest rival, the chained retailer Rimi Latvia SIA. Local players are able to offer their products at affordable prices and they are also often preferred due to the perception that their products are fresher.
Since the outbreak of COVID-19, e-commerce has increased in popularity and will therefore increase its value share in 2020 overall. E-commerce has been a popular option for those consumers who have been afraid of catching the virus, particularly those with certain vulnerabilities that places them at a higher risk factor.
After being negatively impacted by the pandemic, current value growth rates of drinking milk products are not expected to return to what they were pre COVID-19. The main cause for this will be due to the financial backlash cause by the pandemic, with many Latvians having to economise and therefore select lower priced brands.
Milk alternatives will continue to register strong sales growth over the forecast period as the consumer base for non-dairy options continues to expand. In addition to the many Latvian people who are lactose intolerant, demand for milk alternatives is booming among the growing numbers of consumers who are following vegan lifestyles and/or a plant-based diet.
Currently, lactose-free products, including milk alternatives, are generally available only within larger modern grocery retailers outlets, mainly chained supermarkets and hypermarkets. However, the distribution of lactose-free products is expected to spread.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Drinking Milk Products research and analysis database.
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