Latvia Spirits Market 2024

The Latvia spirits market is projected to show slight growth, anticipated to rise from USD 1,110.2 million in 2023 to USD 1,470.9 million by 2029, reflecting a compound annual growth rate (CAGR) of 4.8% during the period from 2024 to 2029. Latvia’s spirits market is characterized by a strong affinity for local spirits, especially Riga Black Balsam, a traditional herbal liqueur. However, international spirits such as whiskey, vodka, and gin are gaining popularity, driven by a younger, more cosmopolitan consumer base. The growing cocktail culture in Latvia’s capital, Riga, is increasing demand for premium spirits and more diverse drinking options. As disposable incomes rise, Latvians are becoming more willing to pay for high-quality, imported alcoholic beverages, contributing to the growth of the premium spirits market.

The report provides a comprehensive analysis of the Latvia spirits industry, presenting detailed market data including historical market size, growth rates, and future forecasts. It offers an in-depth examination of various market categories and subcategories, with a particular focus on key factors such as product type and distribution channel. The insights gained from this evaluation help reveal the growth potential within the spirits sector.

Market Segmentation

The segmentation of the Latvia spirits market is outlined below:
Product type: brandy and cognac, liqueurs, rum, tequila and mezcal, whiskies, white spirits, others
Distribution channel: convenience stores, forecourt, supermarkets and hypermarkets, discounters, food and drinks stores, grocery stores, bars and HoReCa, others

The spirits market in Latvia is segmented based on product type and distribution channel. By product type, it includes brandy and cognac, liqueurs, rum, tequila and mezcal, whiskies, white spirits, and others. Distribution channel segmentation includes convenience stores, forecourt, supermarkets and hypermarkets, discounters, food and drinks stores, grocery stores, bars and HoReCa, and others.

Competitive Landscape

The report profiles major companies, including William Grant & Sons Ltd., Suntory Holdings Limited, S.V.S. La Martiniquaise, Remy Cointreau Group, Pernod Ricard Group, Mast-Jagermeister SE, LVMH Moet Hennessy Louis Vuitton SA (LVMH), Liviko AS, Les Grands Chais De France, Iepirkumu Grupa SIA, Diageo plc, CVH Spirits Ltd., Brown-Forman Corporation, Berlat Grupa SIA, Becle S.A.B. de C.V., Bacardi Limited, Askaneli Bros Ltd., Anora Group Oyj and Amber Beverage Group (ABG).

This report presents an extensive analysis of major entities in the spirits market, focusing on their performance from 2019 to 2023. Findings showcase changes in market share, recognizing both long-standing leaders and new challengers.

Why Buy This Report?

Obtain precise statistical data and forecasts for the Latvia spirits market.
Gain in-depth analysis and forecasts for the key segments of the Latvia spirits market: product type and distribution channel.
Develop region-specific strategies and set strategic priorities based on localized data analysis.
Gain deep insights into the dynamics of the Latvia spirits market.
Identify high-potential investment opportunities by targeting growth sectors and emerging trends.
Anticipate the future trajectory of the Latvia spirits market with informed projections.
Assess the competitive landscape to determine the ideal timing for capitalizing on market opportunities.
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Table of Contents

TABLE OF CONTENTS
Key Findings
Report Scope
Research Methodology
Market Overview
Latvia Spirits Market – Product Type Analysis
Latvia Spirits Market – Distribution Channel Analysis
Key Players and Market Share
– William Grant & Sons Ltd.
– Suntory Holdings Limited
– S.V.S. La Martiniquaise
– Remy Cointreau Group
– Pernod Ricard Group
– Mast-Jagermeister SE
– LVMH Moet Hennessy Louis Vuitton SA (LVMH)
– Liviko AS
– Les Grands Chais De France
…
Macroeconomic Data and Forecast
Disclaimer

FIGURES AND TABLES
Table Latvia Spirits Market 2019-2029
Chart Latvia Spirits Market, Net Growth, 2019-2029
Chart Latvia Spirits Market, Growth Rates, 2019-2029
Table Latvia Spirits Market by Product Type, 2019-2029
Chart Latvia Spirits Market by Product Type, CAGR Historic and Forecast, 2019-2029
Chart Latvia Spirits Market by Product Type, 2019-2029
Table Latvia Spirits Market by Distribution Channel, 2019-2029
Chart Latvia Spirits Market by Distribution Channel, CAGR Historic and Forecast, 2019-2029
Chart Latvia Spirits Market by Distribution Channel, 2019-2029
Table Latvia Spirits Market Share (%), by Companies, 2019-2023
Chart Latvia Spirits Market, by Companies, 2023
Table Latvia Spirits Market Share (%), by Brands, 2019-2023
Chart Latvia Spirits Market, by Brands, 2023
Table Latvia – Population (Millions) and Forecast
Table Latvia – Consumer Price Index (CPI) and Forecast
Table Latvia – Gross Domestic Product and Forecast
Table Latvia Spirits Market: Spend as a Proportion of GDP (%)
Table Latvia Spirits Market: Consumption per Capita (Population)

Companies Mentioned

William Grant & Sons Ltd.
Suntory Holdings Limited
S.V.S. La Martiniquaise
Remy Cointreau Group
Pernod Ricard Group
Mast-Jagermeister SE
LVMH Moet Hennessy Louis Vuitton SA (LVMH)
Liviko AS
Les Grands Chais De France
Iepirkumu Grupa SIA
Diageo plc
CVH Spirits Ltd.
Brown-Forman Corporation
Berlat Grupa, SIA
Becle, S.A.B. de C.V.
Bacardi Limited
Askaneli Bros Ltd.
Anora Group Oyj
Amber Beverage Group (ABG)