Food sales in Romania to lose momentum in 2020-2024
Food sales, one of the most important sectors in terms of value and importance in Romania, will near EUR 25 billion in 2024 up from EUR 22.3 bln in 2019, but the sector’s growth rate will drastically decrease, market research firm Euromonitor estimates.
Thus, after three years of robust growth between 5% and 7%, starting 2020 the rate will decrease gradually decline according to Ziarul Financiar calculations based on Euromonitor data.
The market’s growth will halve to 2.2% in 2020 and 2021 to further decelerate to 1.7% in 2022 and 1.3% in each of the following two years, according to the Euromonitor estimates.
The forecast thus confirms the information provided by managers and market experts, who say that they expect a reduction in the consumption appetite of Romanians starting this year.
They refer to consumption in general, but such an evolution will be reflected in all segments, including in the food trade.
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