Boston, MA -- (SBWIRE) -- 07/23/2012 -- Factors such as high unemployment and disinflationary pressures will combine to depress the development of premium food and beverage sectors in Bulgaria in the coming months, as the exportoriented country suffers from external headwinds. The longer term attractiveness of the country's food and drink market will remain predicated on its economic performance, but also hampered by a negative demographic outlook, complete with the lack of an aspirational consumer base.
Headline Industry Data (local currency)
- 2012 per capita food consumption: +1.54%; forecast compound annual growth rate to 2016:+2.34%
- 2012 alcoholic drinks sales: +0.69%; forecast compound annual growth rate to 2016: +1.47%
- 2012 soft drinks sales: +1.91%; forecast compound annual growth rate to 2016: +4.44%
- 2012 mass grocery retail sales: +2.08%; forecast compound annual growth rate to 2016: +4.61%
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Key Industry Trend
Qatar and Bulgaria Eyeing Agricultural Partnerships: In May 2012, local press reported that Qatar and Bulgaria were aiming to establish joint companies in the field of agriculture, specifically in regards to sheep- and cattle-breeding, fishing and bee-keeping. As part of the talks covering a range of other industries, Bulgarian poultry producer Gradus signed a memorandum of understanding (MoU) with Qatar's Hassad Food. Indeed, agriculture - in addition to logistics and information technology (IT) - were recently highlighted by Kiril Petkov, General Manager of Bulgarian Development Company.as Bulgaria's most competitive industries from the point of view of investment potential.
Smoking Ban Threatening On-Trade Sales of Alcoholic Drinks: Bulgaria is poised to introduce a full smoking ban from the start of June 2012, which is viewed as potentially devastating for the on-trade alcoholic drinks industry, as well as for food establishments in general. According to the Bulgarian Association of Hotel and Restaurant Owners, Blagoy Ragin, which recently took part in protests against the ban, the move will reduce the turnover of domestic food and drink establishments by BGN300mn, which will inevitably lead to bankruptcies. Protesters have called for the ban to be postponed for a few years, in light of the current economic situation.
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