| Product Code: ETC5250229 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Shubham Padhi | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
The import of botanical ingredients in Latvia saw a significant shift in market concentration from high to moderate in 2024, with top exporting countries being Ukraine, Russia, Poland, Egypt, and Albania. Despite a negative Compound Annual Growth Rate (CAGR) of -7.86% from 2020 to 2024 and a decline in growth rate of -16.71% from 2023 to 2024, the market remains dynamic. This changing landscape presents both challenges and opportunities for market players to adapt to evolving trends and sourcing strategies in the botanical ingredients sector.

The Botanical Ingredients market in Latvia is projected to grow at a stable growth rate of 4.12% by 2027, within the Europe region led by Germany, along with other countries like United Kingdom, France, Italy and Russia, collectively shaping a dynamic and evolving market environment driven by innovation and increasing adoption of emerging technologies.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latvia Botanical Ingredients Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Botanical Ingredients Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Botanical Ingredients Market - Industry Life Cycle |
3.4 Latvia Botanical Ingredients Market - Porter's Five Forces |
3.5 Latvia Botanical Ingredients Market Revenues & Volume Share, By Form, 2021 & 2031F |
3.6 Latvia Botanical Ingredients Market Revenues & Volume Share, By Source, 2021 & 2031F |
3.7 Latvia Botanical Ingredients Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Botanical Ingredients Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing consumer awareness towards natural and organic products |
4.2.2 Growing demand for plant-based ingredients in the food and beverage industry |
4.2.3 Rise in popularity of herbal supplements and natural skincare products |
4.3 Market Restraints |
4.3.1 Seasonal variations in the availability of botanical ingredients |
4.3.2 Fluctuations in raw material prices |
4.3.3 Regulatory challenges related to the sourcing and processing of botanical ingredients |
5 Latvia Botanical Ingredients Market Trends |
6 Latvia Botanical Ingredients Market Segmentations |
6.1 Latvia Botanical Ingredients Market, By Form |
6.1.1 Overview and Analysis |
6.1.2 Latvia Botanical Ingredients Market Revenues & Volume, By Powder, 2021-2031F |
6.1.3 Latvia Botanical Ingredients Market Revenues & Volume, By Liquid, 2021-2031F |
6.2 Latvia Botanical Ingredients Market, By Source |
6.2.1 Overview and Analysis |
6.2.2 Latvia Botanical Ingredients Market Revenues & Volume, By Herbs, 2021-2031F |
6.2.3 Latvia Botanical Ingredients Market Revenues & Volume, By Leaves, 2021-2031F |
6.2.4 Latvia Botanical Ingredients Market Revenues & Volume, By Spices, 2021-2031F |
6.2.5 Latvia Botanical Ingredients Market Revenues & Volume, By Flowers, 2021-2031F |
6.2.6 Latvia Botanical Ingredients Market Revenues & Volume, By Others, 2021-2031F |
6.3 Latvia Botanical Ingredients Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Latvia Botanical Ingredients Market Revenues & Volume, By Food & Beverages, 2021-2031F |
6.3.3 Latvia Botanical Ingredients Market Revenues & Volume, By Dietary Supplements, 2021-2031F |
6.3.4 Latvia Botanical Ingredients Market Revenues & Volume, By Personal Care & Cosmetics, 2021-2031F |
6.3.5 Latvia Botanical Ingredients Market Revenues & Volume, By Pharmaceuticals, 2021-2031F |
6.3.6 Latvia Botanical Ingredients Market Revenues & Volume, By Others, 2021-2031F |
7 Latvia Botanical Ingredients Market Import-Export Trade Statistics |
7.1 Latvia Botanical Ingredients Market Export to Major Countries |
7.2 Latvia Botanical Ingredients Market Imports from Major Countries |
8 Latvia Botanical Ingredients Market Key Performance Indicators |
8.1 Sustainability metrics related to sourcing practices |
8.2 Consumer perception and awareness surveys on botanical ingredients |
8.3 Research and development investments in innovative botanical products |
8.4 Number of partnerships with local farmers for sourcing botanical ingredients |
8.5 Percentage of market growth attributed to new product launches in the botanical ingredients segment |
9 Latvia Botanical Ingredients Market - Opportunity Assessment |
9.1 Latvia Botanical Ingredients Market Opportunity Assessment, By Form, 2021 & 2031F |
9.2 Latvia Botanical Ingredients Market Opportunity Assessment, By Source, 2021 & 2031F |
9.3 Latvia Botanical Ingredients Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Botanical Ingredients Market - Competitive Landscape |
10.1 Latvia Botanical Ingredients Market Revenue Share, By Companies, 2024 |
10.2 Latvia Botanical Ingredients Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |