Beer Market Overview in Latvia
In value terms, beer production dropped to $ in 2019 estimated in export prices. Overall, production continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2013 when the production volume increased by % y-o-y. As a result, production attained the peak level of $. From 2014 to 2019, production growth failed to regain the momentum.
The size of the beer market in Latvia dropped modestly to $ in 2019, waning by -% 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the market value increased by % against the previous year. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market failed to regain the momentum.