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The outbreak of COVID-19 in Latvia increased financial concerns in the country during Q1 of 2020. This was intensified as concerts and events were cancelled, while shopping centres closed, resulting in many of the population being out of work.
The government declared a state of emergency from 13 March to 14 April, which saw the introduction of a number of restrictions and prohibitions. From 17 March, this prohibited movement of persons and vehicles through border crossing points with the EU via air, sea, rail and road travel as well as at crossing points for local border traffic.
Although cigarettes record value growth due to ongoing price hikes, volume sales of cigarettes declined in 2019, while several factors challenged the industry. Firstly, ongoing excise tax hikes have made price-points increasingly unappealing to consumers, with many choosing to trade cigarettes for fine cut tobacco to save costs.
Philip Morris Latvia SIA led the cigarette landscape in 2019, offering Marlboro and L&M, while second-placed player, Baltic Sales Network Sia continued to gain share, due to the popularity of the favoured brand Winston. Greis Logistika SIA came in third during the year, and increased its share in line with the strong performance of Caines and economy offering Rothmans.
Out of traditional tobacco products, fine cut tobacco is the area set to benefit the most from the outbreak of COVID-19, with an increase of price-conscious behaviour motivating consumers to trade down from cigarillos and cigarettes to smoking tobacco. In addition, the lack of illicit trade in Q1 of 2020 boosted value sales, and habitual smokers continued to rely on their habit during a time of heightened anxiety.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Tobacco 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 Tobacco industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Latvia for free:
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This industry report originates from Passport, our Tobacco market research database.
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.