Executive Summary

Nov 2019
PROSPECTS
Latvian health trend impacts performance, stimulates demand for olive oil

Edible oils play a traditional role in the Latvian diet. Packaged products face little competition from unpackaged alternatives, while small producers and manufacturers of niche products, such as pumpkinseed oil, largely distribute their products through channels such as buyers’ clubs and farmers’ fairs, rather than competing for space and attention with packaged products in large, formal outlets such as supermarkets and convenience stores.

Olive oil boosted by coverage of health benefits

Rising health awareness has particularly benefitted olive oil. Olive oil is widely recognised as one of the healthiest sources of fat, as it contains monounsaturated fatty acids rather than saturated and trans fats, and is rich in antioxidants.

Increasing competition to force players to adopt alternative promotional strategies

As distributors and producers fight for the olive oil category, the most dynamic within the edible oils environment, there is a high level of price competition. As a result, consumers are more used to price-based promotions.

COMPETITIVE LANDSCAPE
Increasingly sophisticated consumers to raise demand for alternative products

As consumers become more educated about the different benefits of oils, the health and wellness trend is set to strengthen and become more important than pricing. As a result there is greater potential for the development of new and innovative products.

Wide variety of products fragments olive oil category

Olive oil is represented by the largest range of products and brands compared to any other type. For instance Barbora.

Little opportunity for domestic players, Rimi appeals with price positioning and product range

In Latvia the vast majority of products are imported. With the growth of modern grocery retailers, coupled with consumers’ increasing demand for quality, consistency and convenience, foreign players are expected to remain dominant in edible oils over the forecast period.

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Edible Oils in Latvia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Edible Oils 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 Edible Oils industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Edible Oils 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 Edible Oils 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.

Edible Oils in Latvia - Category analysis

HEADLINES

PROSPECTS

Latvian health trend impacts performance, stimulates demand for olive oil
Olive oil boosted by coverage of health benefits
Increasing competition to force players to adopt alternative promotional strategies

COMPETITIVE LANDSCAPE

Increasingly sophisticated consumers to raise demand for alternative products
Wide variety of products fragments olive oil category
Little opportunity for domestic players, Rimi appeals with price positioning and product range

CATEGORY DATA

Table 1 Sales of Edible Oils by Category: Volume 2014-2019
Table 2 Sales of Edible Oils by Category: Value 2014-2019
Table 3 Sales of Edible Oils by Category: % Volume Growth 2014-2019
Table 4 Sales of Edible Oils by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Edible Oils: % Value 2015-2019
Table 6 LBN Brand Shares of Edible Oils: % Value 2016-2019
Table 7 Distribution of Edible Oils by Format: % Value 2014-2019
Table 8 Forecast Sales of Edible Oils by Category: Volume 2019-2024
Table 9 Forecast Sales of Edible Oils by Category: Value 2019-2024
Table 10 Forecast Sales of Edible Oils by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Edible Oils by Category: % Value Growth 2019-2024

Packaged Food in Latvia - Industry Overview

EXECUTIVE SUMMARY

Lifestyle trends underpin market shifts, with increasing demand for convenience, healthy products, and more environmentally-friendly packaging
Frozen fruit, muesli and granola, artisanal products benefit from health trend
Players with their own retail networks gain strength, private labels remain popular despite premiumisation trend
Cooperatives popular due to cost savings, while the growth of hypermarkets is evident across the country
Players seek to reduce costs, health and environmental issues to influence consumer choice

FOODSERVICE

Sales to Foodservice
Convenience and on-the-go consumption trends evident in foodservice
Consumers interested in more upmarket products and foreign cuisine
Increased demand for vegetarian and vegan offerings set to influence foodservice development, but currently limited to the Latvian capital

CATEGORY DATA

Table 12 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Sales of Packaged Food by Category: Value 2014-2019
Table 18 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 19 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 20 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 21 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 23 Penetration of Private Label by Category: % Value 2014-2019
Table 24 Distribution of Packaged Food by Format: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format and Category: % Value 2019
Table 26 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 27 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources