PROSPECTS AND OPPORTUNITIES
Sparkling wine growth supported by marketing campaigns and promotions
Wine in Latvia is projected to grow modestly over the next five years, driven by ongoing demand for still and sparkling wines and a gradual easing of inflationary pressures. However, competition from other categories, such as RTDs, flavoured beer and premium spirits, will keep growth in check, particularly as consumers continue to explore new beverage experiences.
Shift to drier options
The gradual shift toward white and sparkling wines is expected to continue throughout the forecast period. Sparkling wine, in particular, has a strong tradition of consumption in Latvia and the wider region.
Innovation to focus on flavour diversity, sustainable packaging, and digital engagement
Innovation in Latvia’s wine category is expected to focus on flavour diversity, sustainable packaging, and digital engagement. Wines infused with botanicals or crafted for specific occasions, such as brunch or casual gatherings, are anticipated to be launched.
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Overview:
Understand the latest market trends and future growth opportunities for the Wine 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 Wine 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 Wine 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 Wine in Latvia?
- Where is consumer demand for Wine 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?
Wine in Latvia - Category analysis
KEY DATA FINDINGS
Consistent off-trade demand and a gradual return of consumers to on-trade support stable sales in 2024
Innovation focuses on fresh formats, appealing flavours, and sustainability-driven offerings
Major supermarket chains leverage their extensive networks and promotional power
Sparkling wine growth supported by marketing campaigns and promotions
Shift to drier options
Innovation to focus on flavour diversity, sustainable packaging, and digital engagement
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:
Wine
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- Port
- Sherry
- Vermouth
- Other Fortified Wine
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- Apple Wine
- Bokbunjaju
- Cheongju
- Chinese Wine
- Economy Rice Wine
- Fortified Fruit Wine
- Fruit and Berry Wine
- Fruit and Herbal Wine
- Fruit and Honey based Wine
- Fruit Wine
- Lower Mid-Range Rice Wine
- Non-Grape Dessert Wine
- Premium Rice Wine
- Sake
- Takju
- Upper Mid-Range Rice Wine
- Yakju
- Yellow Wine
- Other Non-Grape Wine
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- Champagne
- Other Sparkling Wine
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- Still Red Wine
- Still Rosé Wine
- Still White Wine
- Non Alcoholic Wine
Wine
This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).
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 Wine research and analysis database.
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