Refering to prognosis provided by the world leader in strategy research for consumer markets Euromonitor International , the market growth of Latvia is not prognosed to be not be larger then maximum 2 percent (CAGR 2011-2016, %- 1.5%).

As announced before, the strategy of LB has not been changed and it is planned to continue strong export market development to compensate the deviance of slow growth for local market.

China (288383m l or 18% from world total) and USA (21578m l or 13% from world total) are the largest markets of the world, and thereby both of these markets are subject of research and possible new market possibilities for the LB. 

Already around 35% LB (under the SPI GROUP) has and export to USA, that gives a special attitude for this market. For comparison - Latvia is 191 m l or 0.1%. All data form year 2011. Prognosis from Euromonitor.

Basing of the data mentioned above - JSC "Latvijas balzams" is planning growing turnover not earlier then the period of 3 years. 

 Also as mentioned in the data announced - the strategy of SPI Group is to develop and increase the sales volumes for the one of the main products - vodka Stoli. As this product is produced at the factory of LB, obviously, sales and turnover will grow also for LB.  

Further information:

Inta Belova

phone: +371 67011715