On July 2 2021, the International Islamic Food Processing Association (“IFPA”) held a meeting with the representative of the Association of Producers of Soft Drinks and Juices of Kazakhstan (“Association”).
The Association was established in 2002, bringing together 14 domestic and international enterprises of juice products, soft drinks and water, which account for more than 90% of the volume of products manufactured in the Kazakhstani market. The market of non-alcoholic beverages is currently one of the most attractive for investors. It is characterized by quick payback periods and high profitability, especially due to rapid population growth and a rising mid-income group which is supporting sales growth, with the health trend favouring juice and bottled water.
The Executive Director of the Association, Ms Aliya Mamytbaeva specifically mentioned: “Kazakhstan is an attractive sales market for beverage manufacturers. Foreign beverage companies have a strong market position in domestic production. Major producers include Coca-Cola, PepsiCo, Red Bull and Libella, which are among the largest beverage producers. Domestic producers represented by Raimbek Bottlers Group, Riks and many other small enterprises. Kazakh companies have by now accumulated sufficient experience and knowledge to be able to offer products and services to high-quality standards. The Association aims to develop direct relationships for its members with IFPA to extend the growth of their export activities into OIC Member States.”
The Director General and CEO of IFPA, H.E. Sheikh Bilal Khan remarked: “IFPA is very keen to develop close cooperation with the Association to create special services in attracting Islamic investments and financing and provide assistance to increase the volume of exports of the soft drinks and juice producers with penetration into 57 OIC markets. We are looking forward to working with the beverage manufacturers to explore new niches in the healthy lifestyle subsector especially for the growing Muslim consumers as the global Islamic economy now stands close to trillions of dollars in value.”
The parties agreed to continue their mutual discussions to define the framework for future cooperation through organising joint conferences for their members.