Retail volume sales of hot drinks in Latvia saw a static performance in 2023, as the high rate of inflation weighed heavily on consumer spending. With consumers forced to spend more on utilities and food, they shifted away from premium brands and towards lower-priced products.
Coffee remained the largest category within hot drinks in Lativa, with standard fresh ground coffee dominating retail volume sales. Indeed, fresh coffee fared much better than instant coffee in 2023, thanks to the growing coffee culture in the country, combined with a trend towards premiumisation.
With coffee dominating retail value sales of hot drinks in Latvia, coffee players continued to lead the competitive landscape in 2023. However, the market remained fairly fragmented, with only Jacobs Douwe Egberts and Merrild Baltics SIA holding a double-digit share of retail value sales, ahead of Tchibo GmbH and Nestlé SA.
Despite the rapid growth of e-commerce, grocery retailers continued to overwhelmingly dominate retail value sales of hot drinks in 2023. One notable trend was the re-emergence of discounters , following the entry of Lidl to the Latvian market in late 2021.
Foodservice continued on its path to recovery in 2023, following a period of severe disruption caused by the pandemic. However, ongoing economic uncertainty hampered a full-scale revival, with volume sales remaining well below 2019 levels.
Retail sales hot drinks can expect to see only minimal growth in volume and value (constant 2023 prices) terms over the forecast period, as many major product areas approach saturation. Moreover, while there is a developing coffee culture in Lativa, with tea also attracting more attention due to its functional benefits, the anticipated decline in the size of the population is likely to dampen demand.
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