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20-03-2017

Processed meat and seafood in Macedonia. Trends & Prospects

TRENDS
Towards the end of the review period, processed meat and seafood in Macedonia suffered a blow as a result of the listeria scare, which led to several processed meat consumption deaths. Following this turbulence, processed meat and seafood returned to normal, achieving solid current value growth of 4% and reaching value sales of MKD7 billion in 2016. The category witnessed increased penetration of packaged processed meat, which largely consists of dried or cured processed meats, which are less susceptible to spoilage and potential deadly food poisonings.
PROSPECTS
Processed meat and seafood in Macedonia is set to achieve a value CAGR of 3% at constant 2016 prices over the forecast period, to reach value sales of MKD8.1 billion by 2021. Stable volume demand for most of the category is set to continue and will contribute to overall growth. The growing trends of convenience and home cooking are also set to additionally boost growth of processed meat and seafood. Towards the end of the forecast period, processed meat and processed food is set to witness increased premiumisation despite limited disposable incomes of most local consumers. Niche consumer groups and gourmet enthusiasts are likely to be more willing to pay for premium or higher quality import brands in the category. 

COMPETITIVE LANDSCAPE
In 2016, Pekabesko ad led processed meat and seafood in Macedonia with a 20% value share, followed by MIK Sveti Nikole doo with a declining 13% value share. Both Pekabesko and MIK Sveti Nikole market a wide portfolio of processed meat products. Neither of them markets processed seafood brands for the obvious reason that Macedonia is a landlocked country. While Pekabesko relies on the various retail outlets throughout the country, MIK Sveti Nikole sells its brands primarily via its own network of affiliate stores across Macedonia.
Source: Euromonitor International