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Serbia Food and Drink Report Q3 2008
Business Monitor International, July 2008, Pages: 74
Despite its turbulent recent history, Serbia occupies a commendable tenth place in Food and Drink Ratings for Q308, which assesses a market’s attractiveness to industry investors in comparison to 13 other countries in the Central and Eastern European (CEE) region. Serbia’s potential is recognised by foreign companies, which are increasingly seeking to escape the highly saturated and competitive markets of Western Europe.
To this end, Dutch Heineken purchased Serbian brewer Pivara MB, becoming the third-largest player in the beer sector and heralding an increased level of competition between global brewers in Serbia. Other foreign beverages majors are investing in Serbia. In January 2008, the Coca-Cola Hellenic Bottling Company (CCH) stated that it would cut its annual carbon dioxide emissions by about 20% by the end of 2009 through the construction of 15 energy efficient combined heat and power (CHP) plants, including one in Serbia, which offers a low-cost manufacturing base. The above situation is largely reflected in the MGR sector. Foreign companies, led by Slovenian Mercator, are emerging as key players in the country’s retail.
Companies from further afield in Europe, most recently Spar Austria, are also increasingly expressing their interest in the Serbian MGR sector. Economic development, the brand-consciousness of the Serbian consumer and marketing initiatives will counterbalance the limited spending power of the average family to produce a steady upward trend in retail values.
The creation of new large-scale outlets and modern shopping centres will in particular benefit this trend, despite the questionability of certain construction developments, such as the alleged infringement of building plans by Mercator. Generally speaking, Serbia’s well-educated workforce, low production costs and privatisation initiatives offer plenty of opportunities, with the government also committed to attracting foreign direct investment (FDI).
Additionally, strong growth forecasts and a lack of market saturation represent a solid basis for expansion. However, the drawbacks to doing business in Serbia are evident in other areas, mainly its political climate, corruption and a lack of transparency.
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