Sugar confectionery was negatively impacted in 2020, with a volume decline of 4% for 2021 and a value decline of 3%. As many sugar confectionery products are impulse purchases, these negative results were the offset of home seclusion, the closure of non-essential retailers, and lack of on-the-go purchases.
During 2021, German supermarket chain Lidl is expected to open its first stores in Latvia. Alongside the opening, Lidl is also anticipated to launch its private label products across snacks, including sugar confectionery.
Medicated confectionery is expected to drive the strongest value and volume growth in 2021, followed by mints. Sales of medical confectionery is set to benefit from the ongoing concerns surrounding COVID-19, with consumers in 2021 continuing to be concerned about catching COVID-19, stocking up on these products.
As the Latvian government works towards repairing the economy from 2021 and over the forecast period, disposable incomes will slowly start creeping up once again, meaning consumers will be able to afford more non-essential food products. As restrictions eased in April 2021, demand for sugar confectionery is set to rise for the rest of the year, in line with the return of socialising.
With the development of the health and wellness trend likely being accelerated further by the pandemic, sugar confectionery will face more pressure over the forecast period. As a result of the attention brought to overall health by the pandemic, consumers’ willingness to reduce consumption of sugar and sweet products, in general, will likely be even stronger starting from the beginning of the forecast period.
The population of Latvia will continue declining over the forecast period as a result of both negative natural growth and negative net migration. Likewise, the number of children and youth in Latvia has been declining steeply in recent years and will continue to do so over the forecast period.
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Understand the latest market trends and future growth opportunities for the Sugar Confectionery 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 Sugar Confectionery research and analysis database.
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