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Croatia Food and Drink Report Q3 2007
Business Monitor International, Jan 2008, Pages: 73
The Croatia Food Drink Report provides independent forecasts and competitive intelligence on Croatias food and drink industry.
Over the coming years, Croatia will continue to benefit from talks on EU membership, as well as financial and other assistance provided as part of negotiations. The country, which emerged as the leading accession candidate following the January 2007 entry of Romania and Bulgaria, however, needs to make faster progress in the area of commercial legislation. The expected positive changes in this area will provide one of the drivers for the development of the country’s mass grocery retail (MGR) sector. The price-conscious Croatian consumer will, on the other hand, provide an excellent entry platform for foreign discount outlets, which will remain a threat to the position of supermarkets as key retail spaces in the country.
In the meantime, local food and drink players are suffering from the effects of increased foreign competition in the sector, as well as from high production costs and a lack of government subsidy. Some Croatian companies are turning to other regional markets to avoid the pitfalls of its own, although smaller firms are increasingly looking like take-over targets. Most recently, leading Slovenian retail chain Mercator acquired a 100% stake in Croatian food retailer Presoflex for an undisclosed sum, thus bringing its market share up four percentage points to 6%.
Overall, Croatia’s business environment offers a limited growth potential when compared to other countries in the Central and Eastern Europe (CEE) region. Indeed, in the revised Rankings, Croatia retains its 12th position out of the 14 markets surveyed, ranking above only Slovakia and Ukraine.
Apart from regulatory shortcomings, the government’s protectionist stance and the price-conscious consumer remain the key obstacles to market entry. Nevertheless, domestic producers are discontented with the government’s taxation regime, which negatively impacts upon the competitiveness of the soft drinks sector in particular. Beverage companies are calling for the abolition of excise on non-alcoholic drinks in order to allow the industry to reinvest the funds in expansion and the building of national and international profiles.
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