Bulgaria - The Future of Foodservice to 2023

Bulgaria - The Future of Foodservice to 2023

Summary

"Bulgaria - The Future of Foodservice to 2023", published by GlobalData, provides extensive insight and analysis of Bulgaria's Foodservice market until 2023 and acts as a vital point of reference for operators or suppliers.

Bulgaria's economy grew at 7.1% in real terms during 2018, supported by private consumption, the disbursal of EU structural funds and rising domestic demand. Additionally, higher industrial output and steady oil prices have helped to drive domestic demand over the past few years.

The economy is projected to sustain growth over the next five years, backed by a favorable labor market with increasing wages. However, Bulgaria remains amongst the poorest countries in Europe. With a CAGR of 4.5% between 2016 and 2018 in value terms, Bulgaria represents one of the fastest-growing markets in Europe (measured in Euros).

Scope

- However, low labor costs and a flat corporation tax of 10% have done little to attract global foodservice operators, with the country continuing to be plagued by allegations of corruption and organized crime.
- Future opportunities in the market lie outside of the capital, Sofia. Operators are instead looking towards Bulgaria's other major cities (Plovdiv, Burgas and Stara Zagora), which have seen rapid GDP and income growth in recent years. In 2017, Finland's leading QSR operator, Hesburger, chose Lovech as its entry point into the market.
- Owing to depressed income levels, price remains a fundamental consideration of consumers across the entire profit sector.

Reasons to buy

- Specific forecasts of the foodservice market until 2023 give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among major foodservice channels 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 foodservice market.