Executive Summary

Nov 2018
PROSPECTS
Latent potential

With fast-paced urban lifestyles and increasing purchasing power driving demand for convenient meal solutions, packaged soup has yet to exploit its obvious potential in a market in which soup is a staple part of the traditional diet. At the end of the review period, dehydrated soup and instant soup dominated category sales, while chilled soup had yet to establish a significant presence.

Packaging could enhance positioning

Manufacturers looking to develop higher-end shelf stable soups should consider the use of packaging such as liquid cartons and stand-up pouches to enhance their convenience. Moreover, the use of such packaging would emphasise the freshness and “natural” qualities of shelf stable soup in contrast to dehydrated and instant alternatives, making such products more appealing to the growing number of health-conscious consumers.

Competition from frozen vegetables

New higher-end packaged soup positioned as a convenient alternative to homemade soup would not be without competition. Manufacturers of frozen vegetables already position their products as offering greater convenience to consumers looking to make soup at home.

COMPETITIVE LANDSCAPE
Unilever gains ground on Nestlé

Nestlé retained the lead in soup in 2018, though it saw its share eroded significantly in the final two years of the review period. Nestlé’s Maggi brand has a long-standing presence in the Latvian market and has achieved high levels of consumer recognition.

Local player building shelf stable offer

Local player, Spilva is working to build its presence in soup through the development of new soup products with flavours that are traditionally well-known amongst Latvian consumers, such as sour cabbage soup, split pea soup and meatball soup, which it launched in the shelf stable category under the Restoranto brand. Moreover, the company is targeting health-conscious consumer demand with products that do not contain artificial preservatives.

Local companies dominate shelf stable soup

Local companies dominate shelf stable soup, largely as a result of the convenience and cost-effectiveness of local production and transportation in the category. Major local players in the category include Spilva, Milda KM and Kok & Co.

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Soup in Latvia

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Overview

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

The Soup 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 Soup in Latvia?
  • What are the major brands in Latvia?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • Are consumers moving from traditionally canned and dehydrated variants to more innovative chilled, frozen and UHT formats?

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.

Packaged Food in Latvia - Industry Overview

EXECUTIVE SUMMARY

Market in transition
Consumer health-consciousness a key influence
Local companies play prominent role in fragmented market
Rimi Latvia driving hypermarkets expansion
Constraints on growth in forecast period

FOODSERVICE

Sales to Foodservice
Convenience a key driver
Lines between foodservice and retail blurring
Healthy positioning boosting sales in growth caetgories
Consumer Foodservice
Busy lifestyles driving fast food growth
More cosmopolitan tastes reflected in full-service restaurant diversification
Growing interest in vegan diets in Riga
Category Data
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

MARKET DATA

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

SOURCES

Summary 1 Research Sources