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Learn moreDec 2020
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Retail volume sales and value sales hot drinks are set to post gains in 2020 in light of COVID-19 and the pandemic-related regulations that have forced consumers to spend more time at home. In the early months of 2020, at the onset of the pandemic, there was a slight uptick in demand for hot drinks and incidents of stockpiling occurred as worried consumers prepared to hunker down at home.
A state of emergency was imposed from 13 March until 13 May, with Bulgarians only allowed to leave their home to shop for groceries, walk pets or for healthcare purposes, with fines for those flouting the rules. Parks, playgrounds, schools and kindergartens closed, as did parliament.
Most of the players in the retail channel are suffering to a far lesser degree than their counterparts in foodservice. Indeed, retail volume and value sales of most players in the coffee, tea and other hot drinks segments are rising in 2020.
As a result of the pandemic, e-commerce in Bulgaria is thriving. This includes online shopping for coffee, tea and other hot drinks.
Players in the foodservice channel are racking up considerable value sales losses as a result of closures early in 2020 and, subsequently, limits on consumers’ movement and gathering, amongst other pandemic-related rules and restrictions. For the most part, many consumers now find it less appealing to visit cafés, restaurants or other foodservice venues to consume hot drinks.
As consumers decide to venture out of their homes and return to horeca venues, it is expected that foodservice volume sales of hot drinks will bounce back strongly in 2021 before settling in and posting more modest growth rates as the forecast period progresses. However, foodservice value sales are likely to have a more difficult time rebounding as consumers find themselves wrestling with the heightened price-sensitivity brought about by anticipated pandemic-related concerns about rising unemployment and economic recession.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Hot Drinks industry in Bulgaria with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Hot Drinks industry in Bulgaria, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Hot Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.