PROSPECTS AND OPPORTUNITIES
Return to growth driven by rising demand for convenience, flavour innovation and wellness-oriented products
The RTDs category is expected to return to growth over the forecast period, driven by increasing consumer demand for convenience, flavour innovation, and wellness-oriented products. Local producers may follow the global trend of infusing RTDs with botanicals and natural flavours to improve their health image.
Shift toward wine-based RTDs
A further shift toward wine-based RTDs is expected over the period to 2029, as manufacturers look to reduce production costs. However, spirit-based RTDs often carry a higher quality perception, making the competition between these two categories ultimately dependent on consumer preferences - whether they prioritise quality over quantity or vice versa.
Innovation to focus on bold flavours and healthier options to capture a wider consumer base
Innovation in RTDs is expected to focus on creating bold, seasonal flavours, convenient formats, and healthier options. Producers are expected to experiment with botanical infusions, adaptogenic ingredients, and alcohol free variants to capture a wider consumer base.
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Overview:
Understand the latest market trends and future growth opportunities for the RTDs 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.
If you're in the RTDs 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 RTDs 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 RTDs in Latvia?
- Where is consumer demand for RTDs focussed?
- Which is being consumed more; beer, wine or spirits?
- Where is demand growing? Stagnating?
- How is the operating environment for alcoholic drinks changing?
- Which are the leading brands in Latvia?
- How are products distributed in Latvia?
- What are the key trends in new product development?
- Do consumers want value for money or added value?
- How will macroeconomic context and shifting cultural values shape future growth?
- How will COVID-19 and recession impact the alcoholic drinks industry?
- Where is future growth expected to be most dynamic?
Rtds in Latvia - Category analysis
KEY DATA FINDINGS
Price sensitivity and cautious consumer spending impact RTDs in 2024
Latvijas Balzams AS leads, supported by a robust product portfolio and strong relationships with both off-trade and on-trade partners
E-commerce platforms offer curated packs, exclusive promotions, and seasonal bundles that appeal to consumers seeking convenience and novelty
Return to growth driven by rising demand for convenience, flavour innovation and wellness-oriented products
Shift toward wine-based RTDs
Innovation to focus on bold flavours and healthier options to capture a wider consumer base
Alcoholic Drinks in Latvia - Industry Overview
Alcoholic drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
On-trade vs off-trade split
What next for alcoholic drinks?
Legislation
Legal purchasing age and legal drinking age
Drink driving
Advertising
Smoking ban
Opening hours
On-trade establishments
TAXATION AND DUTY LEVIES
Contraband/parallel trade
Duty free
Cross-border/private imports
Outlook
DISCLAIMER
The following categories and subcategories are included:
RTDs
- Malt-based RTDs
- Spirit-based RTDs
- Wine-based RTDs
- Other RTDs
- Non Alcoholic RTDs
RTDs
RTD stands for ‘ready-to-drink’. Other terms which may be used for these products are FABs, alcopops and premixes. The RTDs sector is the aggregation of malt-, wine-, spirit- and other types of premixed drinks. These drinks usually have an alcohol content of around 5% but this can reach as high as 10% ABV. Premixes containing a high percentage of alcohol of around 15%+ combined with juice or any other soft drink are included here. RTDs are usually marketed as products to be drunk neat, with ice, or as a cocktail ingredient. Fruit-flavoured, vodka-based spirits with an alcohol content of between 16-21% are classified here. Examples: Alizé, Ursus Roter, Berentzen Fruchtige, Kleiner Feigling.
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 RTDs research and analysis database.
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