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Review Of The Chocolate Confectionery Market In The Balkans

2225 words - 9 pages

Review of the Chocolate Confectionery Market in the Balkans

In the following pages we are covering the trends, the competitive landscape and the prospects of the Chocolate Confectionery Market in the larger economies of the Balkans area.

A shrinking population and the lingering effects of the economic crisis continued to hamper demand for chocolate confectionery in Serbia in 2013. However, the decline in retail volume sales for the entire category was lower than that recorded in 2012, and also fell below the average rate of decline for the 5-year review period. This modest improvement was mainly due to the general belief that the worst years of the crisis were over, ...view middle of the document...

After having declined over 2008-2013, chocolate confectionery volume and constant value sales are expected to grow steadily over the forecast period. The recovery of the entire category will be underpinned by gradual economic improvements in Serbia. New launches, improvements in distribution, price promotions and other marketing activities will also help to bolster chocolate confectionery consumption.

Although there are some tendencies towards lower consumption of chocolate confectionery by some consumers as a consequence of a deepening economic crisis in the country and falling consumer purchasing power, chocolate benefits from an image as a small indulgence product which consumers can afford and run towards in such times when they cannot afford bigger purchases. However, a more visible trend is that towards cheaper products which are increasingly available in swiftly expanding discounter outlets in Slovenia.
Chocolate confectionery in Slovenia continues to be dominated by Kraft Foods doo which is set to hold a 25% value share in 2013. The company is achieving these sales on account of its well established, world-known brand, Milka. It is followed by two strong foreign players, which both saw their shares stagnate in the year, Ferrero and Mars Overseas Holding, with 17% and 6% value shares, respectively.
After the restructuring of Kraft Food operations in September 2012, it will be interesting to see if the newly created Mondelez International Inc, snack-focused international business unit, will bring any change in market strategy for the leading Milka brand in Slovenia. However, the performance of chocolate confectionery in Slovenia over the forecast period is expected to be further influenced by the expansion of discounters in the country which are continuously stealing market share from classic retailers. This will mean negative pressures on the average unit price.

The value and volume growth of tablets – the largest category in chocolate confectionery - continues to be strong in 2013, despite the lingering effects of the global recession and the overall trend of economising and austerity. These developments are contributing to the anticipated current value growth of 4% in overall chocolate confectionery in 2013. All categories within chocolate confectionery are expected to achieve current value growth of between 2% and 4% in current value terms in 2013.
Kraskomerc, with its Dorina brand, led chocolate confectionery in 2012 with a 14% value share, and is expected to maintain this position and share in 2013 although its value share will suffer a minor loss in 2013.
Slow recovery from the global recession and improved consumer confidence and spending would indicate a potential increase in volume sales of chocolate confectionery in Macedonia, unlike the trend from most of the review period. The category is set to...

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