Lithuania: Retail Foods
Lithuanian grocery sales in 2015 are estimated to have reached the value of U.S. $4.2 billion. The Lithuanian retail market is dominated by large hypermarkets with Maxima Stores holding 50 percent of the market share. Next 40 percent of the retail market is shared by IKI, Norfa, RIMI and PRISMA. Independent retail stores hold about 10 percent of the market share. The entry of the Lidl discount chain in summer of 2016 is likely to greatly influence the shape of the Lithuanian market. Over the next few years Lithuania is expected to continue to achieve solid economic growth. Lithuania adopted the Euro currency on January 1, 2015. Investment and domestic demand are expected to be increasingly important drivers of the economy. While the majority of Lithuanian consumers remain price-sensitive, there is a continuously growing number of end customers willing to pay higher prices for products of superior quality. Products from the U.S. that have good sales potential on the Lithuanian market include: fish and seafood products, nuts, wines and distilled spirits, highly processed and functional ingredients.
