Boston, MA -- (ReleaseWire) -- 06/13/2014 -- High levels of unemployment (forecast at 23.5% for 2014) and government's plans to cut public sector jobs and wages will likely begin to impact households from H214 onwards. This will weigh on overall consumer sentiment, given that the public sector workforce comprises one fifth of the total workforce. In line with the poor consumer outlook, we forecast 2014 total food consumption in Serbia to expand by 1.6% in local currency terms.
Headline Industry Data (local currency):
- Total food consumption growth year-on-year (y-o-y) in 2014: +1.6%; compound annual growth rate (CAGR) to 2018: +2.3%
- Alcoholic drinks sales growth (y-o-y) in 2014: +1.6%; (CAGR) to 2018: +2.4%
- Soft drinks sales growth (y-o-y) in 2014: +5.8%; CAGR to 2018: +10.3%
- Total mass grocery sales (local currency) growth (y-o-y) in 2014: +4.3%; CAGR to 2018: +6.3%
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Key Industry Trends And Developments
Ferrero Signs MoU With Serbian Government : In February 2014 it was announced that Italian confectionery company Ferrero had signed a memorandum of understanding (MoU) with the Serbian government on February 6, in a bid to make Serbia 'the European hub of hazelnut production'. The partnership between the Italian company and Serbian producers will generate an opportunity to promote hazelnut production in central and eastern Serbia. According to Minister of Agriculture Dragan Glamocic, 'Ferrero's investments will enlarge the area covered with hazelnut trees from 1,000 hectares to over 10,000 hectares by 2020'.
Sojaprotein Moves T o Higher Value : In autumn 2013, the Balkans' largest soy bean processor, Serbia based Sojaprotein, announced that it is to borrow EUR110mn from Societe Generale and UniCredit for refinancing as the company shifts to higher value products. The financing will support the transition from soybean meal for animal feeds to higher margin soy protein concentrate.
Delhaize Incurs Writed own O n Serbian Business : In November 2013 Belgium-based retailer Delhaize...
The Serbia Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.
BMI's Serbia Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Serbia.
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