Overall, the picture is bleak for hot drinks in Latvia in 2024, with only marginal volume growth through retail channels. Continuing population decline dampens volume sales.
Fresh coffee continues to account for most value sales and there is also a continuing degree of premiumisation. Consumers are becoming more discerning in terms of coffee and looking for higher quality.
With coffee dominating retail value sales of hot drinks in Latvia, coffee players continues to lead the competitive landscape in 2024. However, the market remains fairly fragmented, with only Merrild Baltics SIA and Jacobs Douwe Egberts holding a double-digit percentage value share, ahead of Tchibo GmbH and Nestlé SA.
Modern grocery retailers continue to dominate retail value sales of hot drinks in 2024. Also, discounters are remerging as a notable channel, since the arrival of German player Lidl in 2021, with the chain now having 30 stores in Latvia.
There is expected to be higher volume growth though foodservice than retail in 2024. That being said, volume growth is expected to be moderate.
While it is expected to be a slowly improving economic picture over the forecast period, and inflation will be less of an issue, constant value and volume growth will be muted. Growth will also be lower through retail channels.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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