Recently published research from Business Monitor International, "Argentina Food & Drink Report 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/12/2013 -- BMI Industry View
We have reduced our regional ranking for Argentina's food and drink industry from its 2013 rank. We forecast that the high inflation rate seen through 2012 and 2013 will continue over the coming years, which will weaken consumer and business confidence, meaning any growth in the value of food and drink consumption will largely be due to inflationary pressures, rather than real value. However, the Argentine economy has benefited from a depreciating currency (down 26% against the US dollar since January 2012) as exports have increased. In particular, increases in agricultural exports have been a key driving force behind the increase in GDP growth seen through 2013. Although this has proven beneficial to the economy, domestic food consumption has not grown much in real terms, as consumers and businesses have been hit by the increasing cost of imports.
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Headline Industry Data
- 2014 per capita food consumption (local currency) = +12.9%; forecast compound annual growth rate (CAGR) to 2017 = +9.1%
- 2014 per capita food consumption (US$) = -6.0%; forecast compound annual growth rate (CAGR) to 2017 = +1.3%
- 2014 alcoholic drink sales (litres) = -0.2%; forecast CAGR to 2017 = 0.6%
- 2014 soft drink sales (litres) = +2.1%; forecast CAGR to 2017 = +3.6%
- 2014 mass grocery retail sales (local currency) = +15.5%; forecast CAGR to 2017 = +12.2%
Key Industry Trends & Developments
Coca-Cola To Unveil Cola With Stevia/Sugar Mix: In June 2013 US beverages firm The Coca-Cola Company confirmed plans to launch a new cola product in Argentina, according to Kam City. The drink will be flavoured using a combination of sugars and stevia, which will see the finished product have half the calories of regular coke. The drink will be branded Coca-Cola Life. Investment and expansion in Argentina's soft drinks market is consistent with our view that the increase in consumption of these products will continue to grow, with carbonated soft drink consumption up to 143 litres per capita in 2017.
SABMiller Introduces Miller Lite to Argentine Market: In May 2013 SABMiller, which entered the Argentine market in 2010, began selling its Miller Lite brand in the country in an attempt to increase its share of the market. The beer market has been dominated by domestic brewer Quilmes, and competitors have struggled to break this dominance despite aggressive marketing and branding campaigns.
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