Hungary Food and Drink Report Q4 2008
Business Monitor International, October 2008, Pages: 73
BMI's Hungary Food Drink Report provides independent forecasts and competitive intelligence on Hungary's food and drink industry.
In BMI’s Q408 Food and Drink Ratings, Hungary successfully retained its pole position in the table ranking 14 key food and drink markets in the Central and Eastern Europe (CEE) region. Main attractions of the Hungarian food and drinks market include high – and growing – food and drinks consumption per capita, a positive trade balance – given its strong agricultural background, and an increased demand for premium products. While the country’s economic environment remains vulnerable to external shocks, Hungary is expected to retain its attractiveness for food and drinks producers, especially as its foreign policy has been successfully reoriented to Western Europe. Illustrating the belief of foreign companies in the Hungarian food and drinks market, Austrian-based sugar, fruit and starch producer Agrana Group recently completed the expansion of its Hungarian production facilities, a 50-50 joint venture with Eaststarch C.V. Agrana now operates the largest producer of corn starch and isoglucose in Europe, although its Hungarian subsidiary Magyar Cukor, in November 2007 announced a closure of one of its two sugar refineries in the country, under pressure from European Union (EU) sugar quota requirements.
Other major foreign companies continue to show interest in Hungary. In June 2008, Russian brewer Baltika, part of the Danish brewer Carlsberg's Baltic Beverages Holding, began exporting beer to Hungary as well as Romania. The brewer is planning to sell 150,000 litres of premium-priced Baltika beer in these two countries by the end of the year, with Hungary especially being receptive to premium products. The brewer has recently expanded its production facility, as it looks to further expand outside Russia.
Around the same time, Austrian retailer Spar received clearance from the European Commission for its proposed acquisition of the Hungarian network of Plus discount stores from Germany's Tengelmann. The sale of Tengelmann’s 174 Hungarian outlets is a part of a broader move to offload its underperforming Plus discount operations outside of its home market. While Spar is already present in the Hungarian market with a number of different store formats, none of these are discount stores. The acquisition will allow Spar to increase the number of its stores to 378, accounting for around 13% of the total mass grocery retail (MGR) market and providing competition to German discounter Aldi, which is geared to establish a strong presence in Hungary by the end of the year.
Executive Summary
Business Environment
Central and Eastern Europe Food & Drink Business Environment Ratings
Table: Regional Food & Drink Business Environment Ratings
Hungary’s Food & Drink Business Environment Rating
Table: Global Food & Drink Business Environment Rankings – Hungary’s Global Peer Group
SWOT Analysis
Food And Drink
Hungary Food And Drink Industry SWOT
Mass Grocery Retail
Hungary Mass Grocery Retail Industry SWOT
Macroeconomic Outlook
Table: Hungary - Economic Activity
Food
Industry Forecast Scenario
Food Consumption
Table: Hungary Food Consumption Indicators – Historical Data & Forecasts
Confectionery
Table: Hungary Confectionery Consumption Indicators – Historical Data & Forecasts
Canned Food
Table: Hungary Canned Food Consumption Indicators – Historical Data & Forecasts
Trade
Table: Sectoral Trade Indicators – Export, Import And Balance Value – Historical Data And Forecasts
Industry Developments
Market Overview
Food Production
Leading Players
Food Consumption
Confectionery
Canned Food
Trade
Table Foreign Trade In Hungary (US$mn)
Table Hungary - Trade Of Food, Beverages And Tobacco As Percentage Of Total Trade
Agriculture
Sugar Production
Drink
Industry Forecast Scenario
Alcoholic Drinks
Table: Hungary Alcoholic Drinks Consumption Indicators – Historical Data & Forecasts
Hot Drinks
Table: Hungary Hot Drinks Consumption Indicators – Historical Data & Forecasts
Soft Drinks
Table: Hungary Soft Drinks Consumption Indicators – Historical Data & Forecasts
Industry Developments
Market Overview
Alcoholic Drinks
Beer
Wine
Spirits
Hot Drinks
Soft Drinks
Agriculture At A Glance
Table: Hungary Agricultural Production Statistics
Table: Hungary Organic Agricultural Data
Agricultural Commodity Price
Retail
Industry Forecast Scenario
Table: Hungary Mass Grocery Retail – Value Sales By Format (US$bn) – Historical Data & Forecasts
Table: Grocery Retail Sales By Format – Historical Data And Forecasts
Industry Development
Market Overview
Leading Retailers
Table: Structure Of The Mass Retail Grocery Market By Estimated Number Of Outlets
Table: Structure Of The Mass Retail Grocery Market By Value (US$bn)
Table: Average Annual Sales Per Outlet By Format, 2007
Competitive Landscape
Key Players
Food And Drink
Table: Leading Companies in Hungary's Food & Drink Sector 2007 estimates
Mass Grocery Retail
Table: Key Players: Hungary’s Mass Grocery Retail Sector, 2007
Company Analysis
Food
Fornetti Group
Cerbona
Drink
Sió-Eckes
Heineken Hungária Breweries
Coca-Cola Beverages Magyaroszág Kft
Mass Grocery Retail
Tesco
CBA Kereskedelmi
Deep US Recession Scenario
Global Scenario
Table: World GDP Growth
Table: US GDP Growth, Investment Growth, and Private Consumption Growth
Table: Eurozone GDP Growth
Table: Asia, Excluding Japan, GDP Growth
Table: China GDP Growth
Table: Mexico GDP Growth
Table: Africa GDP Growth
CEE Food & Drink Scenario
Table: Impact Of Deep Us Recession On Total Food Consumption (US$Bn) In Selected CEE Markets - Cumulative US$ Impact Over 5yr Forecast Period
Appendix
Food & Drink Business Environment Ratings
Ratings Methodology
Ratings Overview
Ratings System
Indicators
Limits Of Potential Returns
Risks To Realisation Of Potential Returns
Weighting
Weighting
BMI Food & Drink Industry Glossary
Food & Drink
Mass Grocery Retail
BMI Food & Drink Forecasting & Sourcing
How We Generate Our Industry Forecasts
Sourcing
-Heineken Hungária Breweries
-Coca-Cola Beverages Magyaroszág Kft
-Tesco
-CBA Kereskedelmi
-Fornetti Group
-Cerbona
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