Today: February 14, 2016, 8:03 pm

Croatia Packaged Food Market: New market research released
Ice Cream in Croatia - a new market research report on 2014-04-10 16:17:04
Ice cream is expected to decline for the fifth year in a row in volume terms in 2013. Meanwhile, volume sales have dropped by 11% since 2008. Companies are trying to awaken some interest in ice cream by launching new flavours and formats, mostly in bulk ice cream, but ice cream is a highly seasonal and impulse product, sometimes helped by major sporting events, which did not take place in 2013.

Croatian company Ledo is expected to remain the leading player in ice cream in 2013. Ledo is owned by packaged food conglomerate Agrokor, and managed to maintain its dominant position in ice cream during 2013, expected to account for a 72% value share, although losing two percentage points from 2012. Whilst holding the upper hand in ice cream, the company actually puts more focus on its frozen food part of the business, which in the meantime has the same importance as ice cream in terms of the company´s sales.

Over the forecast period it is possible that the leading player in ice cream in Croatia, Ledo, may grow to become a significant player in ice cream at a regional level, which would allow the company to have more exposure, making it more attractive for a takeover bid by a multinational company. The management of Ledo recently announced that it is to expand its activities by launching a new packaged food product portfolio, including cakes and chocolate confectionery. There are two scenarios which could possibly stem from this: either Ledo will throw itself into its efforts to become a leading regional player in ice cream; or a larger multinational company will attempt to acquire Ledo and push sales through increased advertising activity. It is also possible that both of these scenarios could develop during the forecast period, as there is every possibility that Ledo will become a leading player in packaged food throughout the Balkan region, which would make it a much more attractive acquisition target for a potential purchaser.

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