NewswireToday - /newswire/ -
London, United Kingdom, 2008/11/21 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, added a new report which offers an in-depth outlook of the food and drink market in Bulgaria.
Report Buyer, has added a new report which offers an in-depth outlook of the food and drink market in Bulgaria.
The report “Bulgaria Food and Drink Report Q4 2008” highlights that the recently secured membership of the European Union (EU) will continue to stimulate the development of the Bulgaria’s food and drink markets, especially as Western European players look abroad for expansion opportunities and as consumers are increasingly prepared to pay more for premium products.
These opportunities are illustrated by a stream of foreign investment in the country. To this end, Swiss food giant Nestle announced plans for a major upgrade of its Bulgarian production facilities. The local factory represents just the latest investment in the company’s Bulgarian operations, which have clearly gained in importance over the past few years. Similarly, French alcoholic beverages producer and distributor Belvedere reported a strong Q108 performance in Bulgaria, posting a massive 55.5% increase in first quarter sales. Bulgaria now accounts for 1.3% of its total business, while sales in the company’s core market of France continue to decline.
There is further good news in the soft drinks sector. In July 2008, the Association of Bottled Water Producers reported that the consumption of non-alcoholic beverages in Bulgaria rose by 11% to 794mn litres in H108, the second-highest level in Europe. The Association is predicting the per capita consumption to reach 240 litres by the end of the year.
However, the overall positive outlook for Bulgarian food and drink market opportunities is - to a degree - negated by certain deficiencies of the country’s economic and regulatory base. For example, Bulgaria remains extremely vulnerable to external risks, while also being saddled with high levels of external debt. Similarly, its short-term monetary risk, the burden of bureaucracy and the level of corruption remain high, indicating some of the areas that remain a concern to potential investors.
The report “Bulgaria Food and Drink Report Q4 2008” is available from Report Buyer.
For more information, please visit the ReportBuyer.com website. Report Buyer product ID: BMI02754
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