New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 03/01/2013 -- We forecast real private consumption to grow by 2.0% in 2013, following 2.0% growth in 2012 and 2.4% in 2011. Our core view is that households will continue to restrain expenditure amid stretched balance sheets, and as income growth remains subdued. The strong Canadian dollar and decent wage growth will continue to underpin shoppers' spending power, with consumption slowing against this backdrop. However, we think that the retrenchment of the Canadian consumer amid high debt levels is a healthy and necessary dynamic for the long-term outlook, but it will be a major impairment to growth in the short term.
Headline Industry Data (local currency)
- 2013 per capita food consumption value = +1.2%; forecast compound annual growth rate to 2017 = +1.4%
- 2013 alcoholic drink value sales = +4.3%; forecast compound annual growth rate to 2017 = +4.5%
- 2013 soft drink value sales = +3.4%; forecast compound annual growth rate to 2017 = +3.8%
- 2013 mass grocery retail value sales = +2.6%; forecast compound annual growth rate to 2017 = +2.9%
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Key Industry Trends And Developments
Dean Foods To Sell Morningstar Dairy Business To Saputo: US-based Dean Foods will sell its Morningstar dairy business to Canadian dairy products maker Saputo for US$1.45bn. The deal will enable Saputo to broaden its product range and expand its business footprint in the US. The Morningstar sale marks a major step in the break-up plans of Dean, which is spinning off an additional business into WhiteWave Foods. Saputo will fund the acquisition through a newly committed bank loan.
Molson Coors Looks To Grow Via New Products: In early 2012, Canadian brewer Molson Coors revealed plans to launch a raft of new products in a bid to maintain share in the struggling beer market. In a meeting with analysts, the company said that new products will help to boost sales so that less reliance can be placed on cost cutting in order to drive profit. The aim is also to make beer more attractive to consumers who have moved onto other alcoholic drinks. According to Molson Coors CEO Peter Swinburn: 'Someone else is eating our lunch in the alcohol space.'
Loblaw Recalls Frozen Beef Products: Canadian mass grocery retailer Loblaw announced that it has recalled two frozen beef products, reports CP24. The recalled products are Butcher's Choice Hickory Barbecue Beef Burgers and Butcher's Choice Garlic Peppercorn Beef Burgers. The former has a best-before date of February 1 2013 or February 10 2013, while the latter has a best-before date of March 3 2013. The products have been recalled owing to a risk of contamination from E. coli bacteria.
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