Boston, MA -- (SBWire) -- 11/11/2014 --Incoming evidence of the economic damage caused by the Thai political crisis and our expectations that the political situation will not improve significantly over the remainder of the year ha s caused us to downgrade Thailand's GDP growth outlook for 2014. The Thai economy has weathered a series of economic storms in recent years (from the global financial crisis, to the Japanese tsunami, to devastating floods) , and we do not expect the political crisis to plunge the economy into recession. However, when we combine the uncertainty posed by the political stalemate with the downbeat outlook for Thai households amid elevated debt burdens, and an impending slowdown in the country's main trading partner, China, real GDP growth seems likely to come in very weak, and we are forecasting a drop to 2.0%, from our previous forecast of 3.2%. As a result of this, we see downside risks to our food consumption forecast for 2014. Over the long term, however, we believe growth will be steady as the country's food and retail sector have huge potential.
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Headline Industry Data (local currency)
- 2014 food consumption growth (local currency): +6.4%; compound annual growth rate (CAGR) 2013 to 2018: +6.2 %.
- 2014 per capita food consumption growth (local currency): +6.1%; CAGR to 2018: +6.0%.
- 2014 alcoholic drinks value (local currency) sales: +5.4%; CAGR to 2018: +5.2%.
- 2014 soft drinks value (local currency) sales: +7.2%; CAGR to 2018: +7.7%.
- 2014 mass grocery retail (MGR) sales (local currency): +1.6%; compound annual growth rate (CAGR) 2013 to 2018: +2.0%.
Key Industry Trends And Developments
Thai Union Frozen Products Has Eyes Set On Expansion: Amid reports that Thai Union Frozen Products (TUF) is interested in acquiring US canned food company Bumble Bee Foods, Undercurrent News reported in September 2014 that the company had signed an agreement to acquire French smoked salmon processor MerAlliance. This is expected to be the first of a number of...
The Thailand Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.
BMI's Thailand Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Thailand.
Key Benefits
- Benchmark BMI's independent food and drink industry forecasts for Thailand to test other views - a key input for successful budgeting and strategic business planning in the Thai food and drink market.
- Target business opportunities and risks in Thailand through our reviews of latest industry trends, regulatory changes and major deals, projects and investments
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
Coverage
BMI Industry View
Summary of BMI's key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.
Business Environment Rankings
BMI's Food & Drink Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors, food and drink manufacturers and mass grocery retailers.
The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.
Food Forecasts
BMI's food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market's food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:
Industry Forecast Scenario - Historical data series and forecasts to end-2018 for growth of key indicators within a market's food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.
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New Market Report: Thailand Food & Drink Report Q4 2014
Fast Market Research recommends "Thailand Food & Drink Report Q4 2014" from Business Monitor International, now available