Moderate retail volume growth was recorded in cooking ingredients and meals in Serbia during 2022 as the recovery of the country’s consumer foodservice industry and the rising cost of living put strong pressure on demand. Serbians are known for dining out very often and thus the complete lifting of social distancing restrictions imposed to curb the spread of the COVID-19 virus at the peak of the pandemic led to significant pressure coming on retail sales of cooking ingredients and meals as consumers returned to restaurants, bars and cafés, rather than preparing meals at home from scratch using fresh ingredients.
The return to pre-COVID-19 lifestyles has created the preconditions for consumers to demand lower volumes of cooking ingredients and meals and this is tied to the fact that consumers are spending more time socialising outside of the home than they did during the pandemic. Serbian people are known for their love of dining out and socialising with friends and family in bars, cafés and restaurants and this meant that a major increase was seen in demand for consumer foodservice as soon as social distancing regulations were relaxed to the point that people felt comfortable socialising outside of the home once again.
The influence of private label is growing generally in Serbian as significant numbers of consumers come to accept that private label offers the same quality as most branded goods and that their much lower prices mean better value for money. With high inflation and the cost of living crisis meaning that many consumers are struggling to meet their financial commitments, the leading brands across all important categories of cooking ingredients and meals are finding it difficult to maintain consumer loyalty.
2022 witnessed a return to pre-COVID-19 shopping behaviours among much of the Serbian population, which meant good news for the leading manufacturers and retailers of cooking ingredients and meals. The leading store-based retailers improved the shopping experience in their stores by offering quick service , which meant reduced checkout times and greater convenience.
The main influence on cooking ingredients and meals during the forecast period is expected to be the high inflation that is being seen in Serbia and the address and uncertain economic environment in Europe generally. This situation is set to continue putting pressure on consumer purchasing power, resulting in further price sensitivity among the population and a tendency to economise among all but the most affluent consumers.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Serbia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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