Beer Market Overview in Latvia
In value terms, beer production stood at $94M in 2010 estimated in export prices. In general, beer production continues to indicate a mild deduction. The pace of growth appeared the most rapid in 2008 with an increase of 15% against the previous year. In that year, beer production attained its peak level of $113M. From 2009 to 2010, beer production growth failed to regain its momentum.
The revenue of the beer market in Latvia amounted to $87M in 2010, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% over the period from 2007 to 2010; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of 18% against the previous year. In that year, the beer market attained its peak level of $98M. From 2009 to 2010, the growth of the beer market remained at a lower figure.