An­a­lysts: Latvia’s bread mar­ket sta­bi­lizes; de­mand in­creases for high-qual­ity bread

Baltic News Network - - News -

Latvia’s bread mar­ket has sta­bi­lized: de­mand for bread with high added value con­tin­ues grow­ing, some growth in also noted for tra­di­tional bread seg­ments, ac­cord­ing to an­a­lysts’ data. In Es­to­nia and Lithua­nia, like Latvia, there was an in­crease in de­mand for high-qual­ity bread.

Ac­cord­ing to data from Nielsen, gen­er­ally there is a slight de­cline (1%) in the Baltic bread mar­ket. This can be ex­plained with the in­creas­ing ra­tio of one-per­son house­holds due to de­clin­ing pop­u­la­tion. Eat­ing habits also con­tinue chang­ing – buy­ers pay more at­ten­tion to qual­ity and health­i­ness. «In­no­va­tions con­trib­ute to the bread mar­ket’s de­vel­op­ment. This trend is noted not only in the bread seg­ment with high added value. Lat­vian buy­ers also value in­no­va­tions in tra­di­tional bread seg­ments, where we now see a 2% in­crease af­ter sev­eral years of de­cline. Study shows that the main rea­son is buy­ers’ choice in favour of high-qual­ity bread – Ke­fir bread. The sta­bi­lized mar­ket shows that buy­ers in Latvia value high qual­ity and nu­tri­tional value, which are more im­por­tant fac­tors than price,» com­ments Fazer Bak­ery Baltic di­rec­tor Min­dau­gas Snarskis.

Nielsen study shows that ap­prox­i­mately 36% of Latvia’s bread mar­ket con­sists of bread with high added value, which is an in­crease by 1% when com­pared with the pre­vi­ous year. The most rapid climb has been noted for rye bread seg­ment (+36%). The sec­ond largest in­crease has been noted for wheat bread seg­ment (+11%). «Look­ing at bread seg­ments among Baltic States, we see that even though de­mand for bread with high added value con­tin­ues in­creas­ing in Latvia, we are still be­hind Es­to­nia and Lithua­nia. The pro­por­tion of bread with high added value there is 54% and 40% re­spec­tively, whereas Latvia’s pro­por­tion is 36%. It should also be said that the most rapid growth in those seg­ments was noted in Latvia,» says Snarskis. Ac­cord­ing to data from Nielsen, 49% of bread prod­ucts sold in Baltic States in the last three an­a­lyzed months (March, April and May 2017) were Fazer. The three new Fazer Veg­etable bread prod­ucts were in the lead in Latvia in those months.

Evija Tri­fanova/LETA

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