Savoury snacks saw an increase in growth in response to the outbreak of COVID-19 in 2020, with a 5% value growth and 3% volume growth recorded. As many Latvians were spending more time at home, working and learning from the household, the snacking trend increased.
E-commerce gained noticeable shares in terms of distribution in 2020, with periods of lockdown encouraging consumers to use online shopping, allowing them to avoid leaving their home unless absolutely necessary. Prior to the pandemic, the popularity of e-commerce was developing slowly, however, this process has been accelerated by the outbreak of the virus.
The health and wellness trend is set to gain more attention during 2021, and this is anticipated to continue across the forecast period. As the COVID-19 outbreak has made many people globally question the quality of their health and consequently their immune system, Latvia is no exception to this trend.
From 2021, the easing of quarantine restrictions means that more gatherings, public events and private parties are expected to be held, and this will benefit the growth of the savoury snacks landscape. As such, growth in the early forecast period will be led by tortilla chips, a great option when socialising, as well as nuts, seeds and trail mixes.
E-commerce is expected to expand further across the forecast period, having seen an uplift in growth during 2020 and 2021, aligned to home seclusion and the outbreak of COVID-19. In response to the heightened demand for online shopping, retailers and brands are expected to focus on improving their online presence, offering a wider range of goods and improved delivery and ordering services.
There is a very limited presence of private label in savoury snacks. Latvians show a degree of brand loyalty within the largest product area, potato chips, which makes the competitive environment unfavourable for private label.
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Understand the latest market trends and future growth opportunities for the Sweet and Savoury Snacks 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 Sweet and Savoury Snacks research and analysis database.
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