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Croatia Food & Drink Report Q1 2008
Business Monitor International, Feb 2008, Pages: 75
The Croatia Food Drink Report provides independent forecasts and competitive intelligence on Croatias food and drink industry.
With Bulgaria and Romania joining the European Union (EU) at the start of 2007, Croatia has emerged as the next candidate for membership of the bloc. Consequently, Croatia will continue to enjoy the benefits that such negotiations bring. This will be reflected in the improvement of operating conditions for foreign food and drink manufacturers, which are already expressing significant interest in the nascent market.
The Croatian food and drink market is relatively unsaturated, with local food and drink players suffering from the effects of increased foreign competition in the sector, as well as from high production costs and a lack of government subsidy. As a result, the industry can be expected to consolidate over the coming years, around major domestic players and foreign entrants. Slovenian retailer Mercator has continued to expand in Croatia, following the formation of a joint venture (JV) with local company Plodine and with the acquisition, in May 2007, of Croatian food retailer Presoflex.
In the meantime, while the price-consciousness of the Croatian consumer will provide an excellent entry platform for foreign discount outlets, this will also pose a threat to the overall food and drink values over the forecast period. Therefore, local firms will continue to look abroad - in particular to neighbouring parts of former Yugoslavia, such as Bosnia and Herzegovina - in order to avoid difficult operation conditions at home, despite the authorities’ efforts to improve the competitiveness of the local food and drink manufacturing industry.
Overall, Croatia’s business environment offers a limited growth potential when compared to other countries in the Central and Eastern Europe (CEE) region. In the revised Rankings, Croatia is placed eleventh out of the 14 markets surveyed, ranking above only Romania, Slovakia and Ukraine.
Apart from regulatory shortcomings, the government’s protectionist stance and the price-conscious consumer remain the key obstacles to market entry. On a positive note, rising disposable income and further integration into European trading and marketing networks will stimulate the development of both values and volumes of the food and drink segments.
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