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New Market Research Report: Israel Food & Drink Report 2013

New Food research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (SBWIRE) -- 03/14/2013 -- Stimulated by the strong domestic food production industry and high per capita incomes, as well as by the expansion of modern retailing, household expenditure in Israel has grown in recent years. However, private consumption is set to slow over the coming year, as the government's policies are less supportive of private consumption. Indeed, in August 2012 parliament approved a package of austerity laws that include a 1.0% rise in VAT to 17.0%. In addition, the country already features a fairly mature food retail market and relatively high spending on food and drink.

Headline Industry Data (local currency)

- 2013 per capita food consumption = +2.0%; forecast to 2017 = +20.0%
- 2013 alcoholic drinks value sales = +0.64%; forecast to 2017 = +5.2%
- 2013 soft drinks value sales = +6.2%; forecast to 2017 = +48.7%
- 2013 mass grocery retail sales = +3.0%; forecast to 2017 = +21.4%

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Key Company Trends

Higher Food Prices Now on the Agenda: Many of Israel's food and drink companies have been facing very tough operating conditions over the past year or so. In particular, many firms were unable to pass on higher costs to consumers owing to the widespread regional discontent linked to higher food prices. Nestle's Israeli unit Osem, which products a number of products including coffee and breakfast cereals, is one such company that is reported to have absorbed the bulk of the higher input costs; however, it has now been forced to announce price hikes given the global rise in raw material prices. Osem announced that it would raise its prices by 4.8% on average for many of its goods effective from November 1 2012.

SodaStream Expands Geographic Reach: During 2012, Israel-based manufacturer of beverage syrup and carbonation machines SodaStream has been boosting its geographic reach through new distribution deals. At the beginning of the year the company bought back the Nordic and Baltic distribution rights to its business from distributor Empire AB and then signed a co-branding deal with Kraft Foods in the USA for the use of Kraft's flavours in its soft drinks machines. Towards the end of the year SodaStream announced plans to launch in Chile through Volta, a food and drug supplier, while the company's products will also go on sale in Singapore through retailer Takashimaya via a partnership with home supplier Yeo Teck Seng.

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