COVID-19 will have a positive effect on retail current value sales of processed meat and seafood during 2020. Chilled processed red meat and poultry and frozen processed red meat will see the strongest retail current value sales growth during the year.
Processed meat accounts for almost two thirds of retail current value sales of processed meat and seafood in Croatia. Even prior to the onset of COVID-19, current value sales growth in processed meat and seafood had reached its highest level in many years during 2019.
Local players dominate processed meat in Croatia, with international companies no more than a marginal presence. Processed meat is quite concentrated, with the top-three players – Pik Vrbovec dd, Vindija dd and Gavrilovic doo – accounting for close to half of value sales.
While growth in retail current value sales of processed meat and seafood is set to slow in 2021 as the impact of COVID-19 fades, it will remain relatively strong for the remainder of the forecast period. Apart from chilled meat substitutes – where value sales remain very low in absolute terms – frozen processed poultry will be the top performer in terms of retail current value sales growth.
For a Mediterranean country with ready access to a plentiful supply of fish, Croatia has a surprisingly low level of per capita spending on processed seafood. This is partly due to the fact that the domestic fishing industry is poorly organised and fragmented.
Per-capita meat consumption is in long-term decline in Croatia. While the traditional Croatian diet is meat- and potato-based, chilled meat substitutes are a growing presence in local stores, with these products forecast to lead processed meat and seafood in terms of retail current value sales growth during the forecast period, albeit from a very low base.
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This report originates from Passport, our Processed Meat and Seafood research and analysis database.
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