Bulgaria soft drinks market reports increased revenue share from multinationals at the expense of local companies
Soft Drinks in Bulgaria - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-13 08:43:01
The effects of the economic crisis are weakening. Although 2011 saw consumer optimism which resulted in them spending more, in 2012 the EU crisis and Greek crisis which both affected the Bulgarian economy made consumers cautious once again. Bulgarians limited their spending on premium products but as a whole, consumers in the country see soft drinks as a necessity so spending on them will only be slightly limited.
Bulgarians are becoming more health-conscious. Towards the end of the review period consumers became more health-conscious and this was reflected in their choice of soft drinks as well as food. Although companies are still catching up with this trend in terms of fortified and functional drinks, they are active in promoting products such as bottled water as healthy and are likely to develop further in order to respond to increasing consumer demand.
Multinationals are growing their shares at the expense of small local companies. Although both multinational and local companies have leading positions in soft drinks, multinationals are developing rapidly and they are constantly growing their shares. This often happened at the expense of small local companies, the number of which decreased by half since the beginning of the review period.
Off-trade generated the majority of volume sales while on-trade led in value terms. The bulk volume of soft drinks are consumed at home and purchased from the off-trade channel. The only exception to this rule is energy drinks, the majority of which are consumed in on-trade. The potential of on-trade is seen by leading companies and they developed novelties in terms of branding, packaging and even product types to appeal to on-trade consumers.
Slower volume growth but higher constant value expected over the review period. Volume growth of soft drinks is likely to slow down due to the maturity of some subcategories. However, it will continue growing in constant value terms. This will be due to new product developments and consumers trying new, more premium products.
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