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London, United Kingdom, 2008/11/21 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, added a new report providing a detailed account of Croatia’s Food & Drink Market.
Report Buyer, has added a new report providing a detailed account of Croatia’s Food & Drink Market.
The report “Croatia Food and Drink Report Q4 2008” highlights that the Croatian economy has established a record of solid growth and low inflation since the mid-1990s. Real GDP growth has averaged around 4.0%, with inflation in the low single digits and the exchange rate stable.
Following the January 2007 accession of Bulgaria and Romania into the European Union (EU), Croatia has emerged as the next main candidate, with membership likely sometime in the near future. These developments have all served to boost consumer confidence and will help drive growth in food and drinks consumption.
Consequently, despite now being found in tenth position out of the 14 markets surveyed in the Central and Eastern Europe (CEE), the attractions of the Croatian food and drink markets remain relatively unchanged. The country’s position worsened due to the improvement in other regional markets, with Croatia’s overall ranking only being one point lower than in the previous period. Croatia still boasts high per capita consumption of drinks, with opportunities in particular arising in the bottled water segment.
However, the market has a number of drawbacks, including the price-consciousness of Croatian consumers, a small population and high short-term external risk. As a result of those shortcomings, leading local companies are looking to expand abroad, especially across the territory of former Yugoslavia and the former Eastern Bloc.
On the other hand, smaller Croatian food and drinks companies are increasingly falling prey to larger players. Illustrating this trend of industry consolidation, July 2008 saw Croatian agribusiness firm Granolio partnering with financial firm Cautio Nasice to acquire a 99.97% stake in the dairy company Zdenka. Granolio plans to invest US$30.6mn in the company over the coming five years, as Croatia’s dairy sector continues to modernise.
“Croatia Food and Drink Report Q4 2008” is available from Report Buyer. For further information, see website.
Report Buyer product ID: BMI02753
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