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Bulgaria Food and Drink Report Q3 2008
Business Monitor International, July 2008, Pages: 67
This Bulgarian Food and Drink Report provides independent forecasts and competitive intelligence on Bulgaria's food and drink industry.
This Report for Q308 places Bulgaria in a modest eighth place within the 14 food and drinks markets in Central and Eastern Europe (CEE). The country has benefited tremendously from the lead up to its European Union (EU) accession, both in terms of financial aid and closer economic integration, which has boosted its food and drink and agricultural industries. Food consumption, alcohol and tobacco sales have all increased in recent years, despite the fact that the population is gradually decreasing. This trend shows the opportunities that exist for food and drink manufacturers, as consumers are increasingly interested in new food trends and prepared to pay more for premium products at the expense of cheaper commodity items.
Foreign companies are recognising such opportunities. To this end, in April 2008, Carlsberg Bulgaria announced that it will boost the monthly output capacity by 40,000 hectolitres (hl), as part of its longer-term aim to modernise its regional production facilities. The Bulgarian upgrade – of the Blagoevgrad facility, which produces Pirinsko Pivo – is expected to be completed shortly, further improving the 12% rise in beer sales in January and February 2008. In the meantime, its Danish parent company Carlsberg has added energy drink Battery to its Bulgarian portfolio, in response to rising demand for such beverages.
Domestic companies are also becoming more aggressive in terms of their expansion strategies. In March 2008, local brewer Boliarka announced that it will start exporting its beer to the US. The company currently exports around 6% of its annual output, with most of its destined for Romania. EU integration has increased export opportunities not only because of better trade links, higher exposure to Bulgarian products and tourism, but also due to the rising number of Bulgarian expatriates living elsewhere in Europe.
In the food industry, in December 2007, French poultry processing company Duc created a joint venture (JV) with Bulgarian poultry producer SVS 98, in which it will hold a 40% stake. The JV will market top-grade fresh chicken in Bulgaria, targeting rising disposable incomes and a shift towards consumer preference for quality and premium foodstuffs. The market is likely to continue experiencing such dynamism, despite current spending on food and drink being low in regional terms, as economic conditions improve.
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