The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Increasing disposable incomes due to a tightening labour market, proposed VAT cuts and
public sector wages increase will support growth in Hungary's food and drink industry throughout our
forecast period. As consumers become more affluent, they will increase food and drink expenditure in
favour of premium trends, which will benefit food and drink companies. However, negative demographic
trends will limit growth opportunities in the food and drink sector beyond our forecast period.
Key Trends & Industry Developments
? A challenging demographic profile will limit growth prospects throughout the long term in the food
industry. Negative demographic trends are also fuelling the decline in alcohol consumption.
? As disposable incomes increase, we will see modest growth in the soft drinks sector.
? We will see further consolidation in Hungary's mass grocery retail sector.