Sugar confectionery was negatively impacted as a result of the COVID-19 pandemic in 2020. Not only was Croatia plummeted into economic disarray, but the country also faced challenges such as earthquakes and floods which further decreased consumer confidence and purchasing powers.
In 2020, medicated confectionery was one of the few product areas to maintain volume growth and even benefited from the COVID-19 pandemic as sales grew drastically in comparison with the review period. The main reason for this was because when the virus first reached Croatia, it was still largely unknown, so consumers were trying anything to combat and prevent symptoms and boost immunity.
International companies generally do not try to challenge the dominance of domestic companies in sugar confectionery. Instead, they seek niches and unoccupied positions to launch their products and attempt to grab share in this way.
Over the forecast period, sugar confectionery will continue to see volume decline overall due to the ongoing decline in boiled sweets. The main reason for this will be due to the health and wellness trend which will be further encouraged by the COVID-19 pandemic.
Following the complex economic environment created by the COVID-19 pandemic, disposable incomes will continue to be limited throughout most of the forecast period. In a bid to continue capturing consumers, major players will rely heavily on discounts and promotions, however this comes with limits as they can only lower prices to a certain point.
The main players in sugar confectionery in Croatia have a strong presence and years of tradition in the country. In terms of future competition for value share, local companies such as Kraš dd, IPK Kandit dd and Atlantic Grupa dd will maintain an advantage by being favoured by local consumers who prefer domestic to imported products.
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This report originates from Passport, our Sugar Confectionery research and analysis database.
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