New Food market report from Business Monitor International: "Mexico Food & Drink Report Q3 2013"
Boston, MA -- (SBWIRE) -- 07/22/2013 -- Although we remain optimistic about Mexico's long-term growth outlook on the back of a booming manufacturing sector, an increasingly strong private consumer and favourable demographics, we maintain our view that Mexico is facing a moderate economic slowdown this year. We forecast a 3.6% real GDP expansion in 2013, a year-on-year slowdown on the back of moderating external demand. Private consumption will see a moderation in demand due to a number of factors, including elevated inflation and weak consumer confidence.
Headline Industry Data (local currency)
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- 2013 per capita food consumption = +3.2%; forecast to 2017 = +24.3%
- 2013 alcoholic drink sales = +7.9%; forecast to 2017 = +40.5%
- 2013 soft drink sales = +5.1%; forecast to 2017 = +29.2%
- 2013 mass grocery retail sales = +6.9%; forecast to 2017 = +39.3%
Key Company Trends
Capri-Sun Targeting Mexican Growth: In May 2013, Switzerland-based drinks brand Capri Sun announced plans to focus on growing its business in Mexico after forming a licensing agreement with Mexican beverage manufacturer Grupo Jumex. Capri Sun has suggested that the high proportion of children in Mexico's population makes it a market with 'enormous growth potential' given the brand's positioning as a beverage 'especially for active kids'. Capri Sun also hopes to benefit from its association with Grupo Jumex, which is well established in the Mexican beverage market.
Walmart Investment Plans: In February 2013, Walmart announced plans to invest MXN17.3bn and MXN17.9bn over the course of the year in its Central American operations. About half of this will be used for new store openings with the goal of increasing sales space in Mexico by about 8% to 9%. A month later, Walmart stated that it will probably incur further losses related to the bribery allegations made against its operations in Mexico. The company reported losses of US$157mn in 2012 but has stated that any further costs would not have a material effect on its business.
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