Boston, MA -- (SBWire) -- 03/14/2013 --As the employment outlook remains sombre, private consumption growth in Japan is expected to continue to wane. Weak domestic demand can be expected to weigh on the country's growth into 2013 given that private consumption accounts for around 60% of Japan's GDP. Longer term, the contracting growth opportunities in Japan's food, drink and retail sectors mean that overseas expansion will continue to be a strategic priority for local players such as Aeon and Ajinmoto.
Headline Industry Data (local currency)
- 2013 per capita food consumption = +0.2%; compound annual growth rate (CAGR) to 2017 = +0.4%
- 2013 alcoholic drinks value sales = +0.3%; CAGR growth forecast to 2017 = +0.8%
- 2013 soft drinks value sales = +3.5%; CAGR growth forecast to 2017 = +3.5%
- 2013 mass grocery retail sales = +0.6%; CAGR growth forecast to 2017 = +0.4%
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Key Industry Trends
Yakult's Chinese Success Attracts Danone: Japanese functional beverage manufacturer Yakult Honsha announced plans in November 2012 to build its fourth plant in China to satisfy growing demand. The facility will be the firm's second factory in the city of Guangzhou and is set to begin production in 2014.
The announced investment comes as the firm is said to be undergoing talks with Danone, with the latter reportedly keen to raise its stake in the business from 20% to 28%. In our view, Danone's eagerness to gain a larger stake can be partly attributed to Yakult's success in the tricky Chinese market.
Walmart Still Keen on Japan: Retail giant Walmart announced in October 2012 that is to invest in its Japanese operations, planning to open 22 stores in the market over the next two years. The new stores will be operated under its Seiyu banner, with seven stores opening in the retailer's 2012 fiscal year (running to January 31) and 15 in its 2013 fiscal year. The move is an endorsement for the tricky Japanese market, with Walmart having recently been forced to restructure its Japanese operations due to a lack of profitability.
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New Market Study Published: Japan Food & Drink Report Q1 2013
Fast Market Research recommends "Japan Food & Drink Report Q1 2013" from Business Monitor International, now available