New Food market report from Business Monitor International: "Bahrain Food & Drink Report Q2 2013"
Boston, MA -- (SBWIRE) -- 03/12/2013 -- BMI View: Our outlook on Bahrain's consumer sector remains broadly positive, as consumer confidence has been slowly regaining momentum over recent quarters. We expect household spending in Bahrain to hold up well into 2013, following an estimated expansion of 8.0% year-on-year in 2012. The 15% wage increase for all civil servants in 2011 certainly helped in this regard, as has the ongoing rise in total employment in the private sector. Looking at broader economic growth, the Bahraini economy is only slowly regaining its footing, and we are projecting real GDP growth of 3.2% in 2013, compared with an estimated 3.0% in 2012. Elevated government consumption could prove key to supporting activity throughout the non-hydrocarbon economy, as we expect fixed investment to remain relatively anaemic due to the political crisis.
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Headline Industry Data (local currency)
- ¦ 2013 food consumption growth = +6.6%; compound annual growth rate (CAGR) to 2017 = +7.9%
- 2013 soft drink value sales growth = +5.7%; CAGR to 2017 = +6.8%
- 2013 mass grocery retail sales = +8.2%; CAGR to 2017 = +9.3%
Key Company Trends
Klassno Coffee Enters Bahraini Market: In January 2013, the Gulf Daily News reported that Singapore coffee company Klassno has entered Bahrain for the first time by signing a distribution deal with local food and drink firm Babasons. The move gives Klassno a presence in a potentially lucrative new territory, as its products are now sold in 110 stores across Bahrain at a time when it is seeking to pursue overseas ambitions.
Dairy Company Vivartia Enters Joint Venture: In late 2012, Greece-based dairy group Vivartia announced that it will enter a joint venture (JV) with UAE-based Exeed Industries to expand its presence in the Middle East and North Africa (MENA) region. The new JV will establish a EUR70mn (US$90.0mn) production base in Abu Dhabi, which is set to start in early 2013. Through the JV, the companies aim to establish a business in the UAE with sales of more than EUR165mn (US$212.2mn) per year. Under the deal, Exeed will take over all of Vivartia's brands, including Delta, Barba Stathis and Chrysi Zymi, as well as its foodservice brands, such as Goody's and Everest. Competition within the dairy industry is rife across the Gulf region, with a number of large companies in the market.
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