Retail volume sales of baked goods in Uzbekistan will decline slightly during 2020. As a result of COVID-19, some consumers baked more bread at home.
The price of bread in Uzbekistan has increased significantly: In October 2019, the average cost of a pan loaf (“grey loaf”) increased more than 2.5 times (from UZS600 to around UZS1,500-1,600).
Brotmeister Nonash ZAO, which manufacturers packaged leavened bread, remains the leader in baked goods, ahead of Latvijas Beverejas QK. However, retail current value sales of baked goods are highly fragmented, with artisanal producers continuing to dominate retail current value sales of baked goods in Uzbekistan.
Packaged leavened bread is expected to continue outperform unpackaged leavened bread in terms of retail current value sales growth during the forecast period. Packaged products will also outperform their unpackaged counterparts in flat bread, but the difference between the two will be much smaller than in leavened bread.
In spite of the gradual shift to packaged offerings in baked goods, artisanal products will continue to dominate retail value sales of baked goods during the forecast period. Uzbekistan has a strong baking tradition, and many restaurants, cafés and even independent small grocers bake their own bread.
While Uzbek consumers are becoming more interested in both health and wellness and convenience, opportunities for brand building in baked goods are likely to remain limited during the forecast period. This is because Uzbekistan remains a predominantly rural country characterised by low levels of disposable income and traditional lifestyles.
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This report originates from Passport, our Baked Goods research and analysis database.
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