Industry Statistics and Rankings
How does this industry perform in Latvia compared to Europe?
Country Benchmarking
Industry Data Latvia
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#25 In EuropeBusiness
#25 In EuropeEmployees
#24 In EuropeWages
#26 In EuropeFood-service contractors took a big hit amid the strict lockdown restrictions imposed during the COVID-19 outbreak, decimating revenue in 2020. In response to evolving consumer preferences for healthy and meat-free products, contract caterers are enhancing their offerings to include healthier and environmentally-friendly options. Industry revenue is expected to contract at a compound annual rate of 6.5% to €59.0 billion over the five years through 2024, including a projected 1.5% decrease in 2024.
Enterprises
Number of businesses in 2024
Biggest companies in the Food-Service Contractors in Latvia
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Food-Service Contractors in Latvia industry for IBISWorld to include in this product.
Top Questions Answered in this Report
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What is the market size of the Food-Service Contractors industry in Latvia in 2024?
The market size of the Food-Service Contractors industry in Latvia is €57.9m in 2024.
How many businesses are there in the Food-Service Contractors in Latvia industry in 2024?
There are 278 businesses in the Food-Service Contractors industry in Latvia, which has declined at a CAGR of 1.6 % between 2019 and 2024.
Has the Food-Service Contractors industry in Latvia grown or declined over the past 5 years?
The market size of the Food-Service Contractors industry in Latvia has been declining at a CAGR of 8.0 % between 2019 and 2024.
What is the forecast growth of the Food-Service Contractors industry in Latvia over the next 5 years?
Over the next five years, the Food-Service Contractors industry in Latvia is expected to grow.
What does the Food-Service Contractors in Latvia include?
On-premises food services and Beverages are part of the Food-Service Contractors industry.
How competitive is the Food-Service Contractors industry in Latvia?
The level of competition is high and steady in the Food-Service Contractors industry in Latvia.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
Complementors
Table of Contents
About this industry
Industry definition
Industry players provide catering services for clients on a contract basis. Contracts cover the time period of the service, prices and broad menu selections.
Related Terms
OUTSOURCINGCANTEENORGANIC FOODWhat's included in this industry?
On-premises food servicesBeveragesMeals for takeaway consumptionCompanies
Industry Code
5629 - Other food service activities in Latvia
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Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Food-Service Contractors in Latvia industry?
Outlook
Analysis
What's driving the Food-Service Contractors in Latvia industry outlook?
Volatility
Analysis
What influences volatility in the Food-Service Contractors in Latvia industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Food-Service Contractors in Latvia industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Subdued business sentiment weakens demand from offices. Food-service contracts face restricted demand from offices due to severe inflationary pressures forcing businesses to cut spending on services like catering.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Food-Service Contractors in Latvia industry's products and services performing?
Analysis
What are innovations in the Food-Service Contractors in Latvia industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Food-Service Contractors in Latvia industry?
International Trade
Highlights
- Total Imports into Latvia
- Total Exports into Latvia
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
There are many companies operating in the industry. The industry is highly fragmented, with many contract caterers operating across Europe. Consumer trends toward healthier eating present opportunities for new entrants.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Food-Service Contractors in Latvia located?
Companies
Data Tables
Top 0 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Contract caterers must comply with stringent food regulations. As food-service contractors deal with food, they have to comply with strict food standards on preparation, storage and disposal.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Food-Service Contractors in Latvia industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
The drop in demand during the COVID-19 outbreak inflates wage costs. Despite hiring more part-time and temporary staff for flexibility and cost minimisation, food-service contractors recorded higher wage costs due to strict COVID-19 restrictions that decimated demand.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Food-Service Contractors in Latvia industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.
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