PROSPECTS AND OPPORTUNITIES
Continued stability without major expansion expected
Looking forward, edible oils in Latvia is expected to experience minimal growth, as no substantial shifts are anticipated within consumer demand or competitive dynamics. The overall market is forecast to remain dependent on sales of staple vegetable oils, which will largely dictate the category's future landscape.
Olive oil shows potential through premiumisation and health appeal
Despite Latvia’s preference for vegetable oils, olive oil is positioned to outperform other oils in terms of growth over the forecast period. Olive oil continues to be perceived as a healthier choice, particularly in association with Mediterranean diets, which appeals to Latvian consumers interested in health-conscious cooking options.
Private label expected to capture greater market share in diverse segments
Private label is anticipated to secure an increasing portion of the edible oils market over the forecast period, building upon the strong foothold already established within the vegetable oil segment. Brands such as Rimi Basic and Maxima’s Well Done have seen substantial uptake by consumers seeking affordable yet reliable options, especially within budget and mid-priced categories.
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Overview:
Understand the latest market trends and future growth opportunities for the Edible Oils industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Edible Oils industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Edible Oils in Latvia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Edible Oils in Latvia?
- Which are the leading brands in Edible Oils in Latvia?
- How are products distributed in Edible Oils in Latvia?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Edible Oils?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Latvia?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Edible Oils in Latvia - Category analysis
KEY DATA FINDINGS
Minimal growth in a challenging market landscape
Olive oil remains a niche category
Consistent demand for sunflower and rapeseed oils
Continued stability without major expansion expected
Olive oil shows potential through premiumisation and health appeal
Private label expected to capture greater market share in diverse segments
Cooking Ingredients and Meals in Latvia - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Edible Oils
- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See all of our definitionsWhy 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 report originates from Passport, our Edible Oils research and analysis database.
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