Market Research Report
Cigarettes in Latvia, 2017
|Published by||GlobalData||Product code||372036|
|Published||Content info||49 Pages
|Cigarettes in Latvia, 2017|
|Published: September 7, 2017||Content info: 49 Pages||
"Cigarettes in Latvia, 2017", is an analytical report by GlobalData that provides extensive and highly detailed current and future market trends in the Latvian market. The report analyzes the market size and structure, on both an overall and and per capita basis, based upon a unique combination of industry research, fieldwork, market sizing analysis, and our in-house expertise. Key companies and consumer trends are also analyzed.
Latvia is one of the three Baltic States and, like its two neighbors, joined the EU in 2004 and adopted the euro in 2014. As a result, cigarette taxes and prices are much higher in Latvia than other eastern European countries, like Belarus and Russia, as the country is forced to meet EU requirements and minimum pricing rules. The constant price and tax hikes from the government, with more planned in 2017 and 2018, has damaged demand for cigarettes and also encouraged the contraband trade. In fact, over a fifth of the cigarette market made up of illicit cigarettes in 2016 with most of these being smuggled in from Belarus and Russia. Overall the Latvian cigarette market, like many other markets in more developed nations, is in long term decline as smoking rates continue to fall, taxes and prices increase, and non-duty paid cigarette consumption continues to eat away at the legitimate market. This is exacerbated by the particularly strong influence of contraband cigarettes and the lack of any domestic cigarette factories, the last one closed in 2009, which makes the Latvian cigarette market and even more tough market for international brands.