| Product Code: ETC5330029 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
The import of Vitamin B12 to Latvia saw significant growth in 2024, with key exporting countries being Lithuania, Spain, Poland, Estonia, and Denmark. The market remained highly concentrated, as indicated by the high HHI. The impressive Compound Annual Growth Rate (CAGR) of 45.93% from 2020 to 2024 highlights the increasing demand for Vitamin B12 in Latvia. Moreover, the growth rate of 54.29% from 2023 to 2024 signals a thriving market with potential opportunities for both suppliers and distributors in the industry.

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 Vitamin B12 Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Vitamin B12 Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Vitamin B12 Market - Industry Life Cycle |
3.4 Latvia Vitamin B12 Market - Porter's Five Forces |
3.5 Latvia Vitamin B12 Market Revenues & Volume Share, By Dosage Form, 2021 & 2031F |
3.6 Latvia Vitamin B12 Market Revenues & Volume Share, By Route of Administration, 2021 & 2031F |
3.7 Latvia Vitamin B12 Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Latvia Vitamin B12 Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing health awareness and interest in preventive healthcare practices among the Latvian population. |
4.2.2 Growing adoption of vegan and vegetarian diets leading to higher demand for vitamin B12 supplements. |
4.2.3 Rising geriatric population in Latvia driving the need for vitamin B12 supplementation. |
4.3 Market Restraints |
4.3.1 Limited consumer awareness about the importance of vitamin B12 in overall health. |
4.3.2 Stringent regulations and quality standards in the supplement industry impacting market entry and product offerings. |
4.3.3 Price sensitivity among consumers affecting the affordability of vitamin B12 supplements. |
5 Latvia Vitamin B12 Market Trends |
6 Latvia Vitamin B12 Market Segmentations |
6.1 Latvia Vitamin B12 Market, By Dosage Form |
6.1.1 Overview and Analysis |
6.1.2 Latvia Vitamin B12 Market Revenues & Volume, By Syrups, 2021-2031F |
6.1.3 Latvia Vitamin B12 Market Revenues & Volume, By Injection, 2021-2031F |
6.1.4 Latvia Vitamin B12 Market Revenues & Volume, By Tablets, 2021-2031F |
6.1.5 Latvia Vitamin B12 Market Revenues & Volume, By Powder, 2021-2031F |
6.1.6 Latvia Vitamin B12 Market Revenues & Volume, By Nasal Spray, 2021-2031F |
6.2 Latvia Vitamin B12 Market, By Route of Administration |
6.2.1 Overview and Analysis |
6.2.2 Latvia Vitamin B12 Market Revenues & Volume, By Oral, 2021-2031F |
6.2.3 Latvia Vitamin B12 Market Revenues & Volume, By Intravenous, 2021-2031F |
6.2.4 Latvia Vitamin B12 Market Revenues & Volume, By Subcutaneous, 2021-2031F |
6.2.5 Latvia Vitamin B12 Market Revenues & Volume, By Nasal, 2021-2031F |
6.3 Latvia Vitamin B12 Market, By Distribution Channel |
6.3.1 Overview and Analysis |
6.3.2 Latvia Vitamin B12 Market Revenues & Volume, By Hospital Pharmacy, 2021-2031F |
6.3.3 Latvia Vitamin B12 Market Revenues & Volume, By Retail Pharmacy, 2021-2031F |
6.3.4 Latvia Vitamin B12 Market Revenues & Volume, By Online Pharmacy, 2021-2031F |
7 Latvia Vitamin B12 Market Import-Export Trade Statistics |
7.1 Latvia Vitamin B12 Market Export to Major Countries |
7.2 Latvia Vitamin B12 Market Imports from Major Countries |
8 Latvia Vitamin B12 Market Key Performance Indicators |
8.1 Percentage increase in online searches for vitamin B12-related information and products. |
8.2 Number of new product launches and innovations in the vitamin B12 supplement market. |
8.3 Growth in the number of health and wellness stores stocking vitamin B12 supplements. |
8.4 Average daily recommended intake of vitamin B12 among the Latvian population. |
9 Latvia Vitamin B12 Market - Opportunity Assessment |
9.1 Latvia Vitamin B12 Market Opportunity Assessment, By Dosage Form, 2021 & 2031F |
9.2 Latvia Vitamin B12 Market Opportunity Assessment, By Route of Administration, 2021 & 2031F |
9.3 Latvia Vitamin B12 Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Latvia Vitamin B12 Market - Competitive Landscape |
10.1 Latvia Vitamin B12 Market Revenue Share, By Companies, 2024 |
10.2 Latvia Vitamin B12 Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |