The performance of hot drinks in Romania in 2022 is being driven by two main factors – skyrocketing inflation, and the reopening of society since the lifting of pandemic restrictions in March. This has resulted in high value growth, driven by increased unit costs, but sluggish-to-declining volume growth.
During the era of the pandemic, the working from home trend was the norm for office employees and 2022 is seeing a continuation of this trend to a degree – along with the hybrid working trend. As such, this situation continues to benefit coffee more strongly than tea or other hot drinks.
The dominance of coffee in hot drinks overall is resulting in coffee leader, Jacobs Douwe Egberts RO SRL, also heading hot drinks as a whole. Large global names in foodservice in coffee, such as Starbucks (Nestlé Romania SRL) and Costa Coffee (Coca-Cola HBC Romania SRL) are also notable due to the strength of their cross-category brand portfolios overall, giving them high levels of consumer trust.
As noted, modern retail is expanding in Romania and this includes private label stores reaching rural areas (such as Lidl and Penny), thus to better serve these communities with their affordable ranges of products. Furthermore, overall, price-sensitivity is high in the country, and value and/or discount incentives are becoming more important than ever.
The total reopening of foodservice, after the elimination of restrictions on 8 March 2022, was not able rebound fully. This is because the lingering reopening from 2021 was hampered by different restrictions for vaccinated and unvaccinated consumers, along with an overall reduction in consumers’ disposable incomes in the light of economic uncertainty.
Inflationary pressures are expected to continue in 2023, according to the National Bank of Romania, and this will continue to create higher price-sensitivity and lower purchasing power for many consumers. The drought that affected Romania in 2022 is also expected to continue to have an impact through the first years of the forecast period, notably on herbal and fruit tea, which dominates tea in Romania.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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