The food delivery market in Latvia has been growing at a steady pace in recent years, driven by changing consumer preferences and the rise of technology.
Customer preferences: Latvian consumers are increasingly looking for convenience and speed when it comes to food delivery. As a result, online food delivery platforms have become popular in the country, allowing customers to order food from their favorite restaurants with just a few clicks. In addition, there has been a growing demand for healthier food options, with many consumers opting for vegetarian and vegan meals.
Trends in the market: One of the biggest trends in the Latvian food delivery market is the rise of mobile ordering. With the increasing use of smartphones and mobile devices, many consumers are now using mobile apps to order food. This has led to the development of new delivery models, such as on-demand delivery, which allows customers to receive their food within minutes of placing an order.Another trend in the market is the growing popularity of meal kit delivery services. These services provide customers with pre-portioned ingredients and recipes, allowing them to cook restaurant-quality meals at home. This trend has been driven by the increasing demand for healthy and convenient meal options.
Local special circumstances: The Latvian food delivery market is highly competitive, with a large number of players vying for market share. This has led to intense price competition and a focus on providing high-quality service to customers.
Underlying macroeconomic factors: The Latvian economy has been growing steadily in recent years, driven by strong export growth and increasing consumer spending. This has created a favorable environment for the food delivery market, as consumers have more disposable income to spend on food and other goods and services. In addition, the rise of technology has made it easier for food delivery companies to reach customers and provide high-quality service.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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