Bulgaria - The Future of Foodservice to 2021
- July 2017 •
- 117 pages •
- Report ID: 5082242
"Bulgaria - The Future of Foodservice to 2021", published by GlobalData provides extensive insight and analysis of the Bulgarian Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.
Bulgaria represents one of the fastest growing foodservice markets in Europe, recording a CAGR of 3.4% between 2014 and 2016. Despite this, international brands remain largely reluctant to enter the market owing to allegations of widespread corruption and organized crime that have plagued the country’s reputation for decades. Globally recognised operators that do exist in the market tend to mimic pricing and product strategies utilized across wider-Europe, primarily targeting tourists rather than local Bulgarians. As one of the poorest countries within the EU, the wider Bulgarian foodservice market is severely price-orientated. Out-of-home meal occasions are particularly limited among older consumers, with a period of deflation causing cuts to state pension. Future growth areas appear outside of the capital Sofia, with a booming IT sector pushing up incomes across secondary cities such as Plovdiv and Stara Zagora.
The report includes -
- Overview of Bulgaria’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Bulgaria’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
- Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR and Coffee & Tea Shops) within the Bulgarian foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
- Customer segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Bulgarian population.
- Key players: Overview of market leaders within the three major channels including business descriptions and number of outlets.
- Case Studies: Learn from examples of recent successes and failures within the Bulgarian foodservice market.
- Bulgarian consumers are displaying signs of returning to pre-recessionary buying habits as the country continues to see stable economic growth. This is particularly evident within the coffee and tea shop market.
- International operators have largely maintained pricing and product strategies, with little attention given to localization. As such, these brands are primarily targeting income-rich tourists, rather than locals.
- Income growth across Bulgaria’s secondary cities such as Plovdiv, Stara Zagora and Burgas, are making them key future markets for foodservice operators.
Reasons to buy
- Specific forecasts of the Bulgarian foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea shops) will allow readers understand the wants and needs of their target demographics.
- Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Bulgarian foodservice market.