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New Market Research Report: Spain Food & Drink Report Q2 2013

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


Boston, MA -- (SBWIRE) -- 06/07/2013 -- Private consumption in Spain contracted by 4.0% y-o-y in Q312, against the backdrop of weak consumer and investment spending. This trend will continue in 2013 and 2014, as consumer confidence is damaged by the bleak economic headlines and ongoing political instability. With unemployment reaching 26% in January (55% for those aged 16-25) and a lack of a well-articulated plan for resolving the European sovereign debt crisis increasing fears of future job security, Spanish consumers are becoming increasing wary of spending. This economic environment has created ideal conditions for private labels to thrive and has also provided a sales boost at discount stores. In fact, one company that has managed to do well in 2012 has been the discount food retailer Dia - a Carrefour spin-off. We believe that Dia is one of a select few Western Europe-based food retailers with good near-term growth prospects in the region itself.

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Headline Industry Data (local currency)

- 2013 per capita food consumption = +1.3%; forecast compound annual growth rate (CAGR) to 2017 = +1.9.
- 2013 alcoholic drink value sales = +0.8%; forecast CAGR to 2017 = +1.5%.
- 2013 soft drink value sales = +1.1%; forecast CAGR to 2017 = +2.1%.
- 2013 mass grocery retail sales = +1.7%; forecast CAGR to 2017 = +2.6%.

Key Company Trends & Developments

Ebro Foods' Net Profit Up 19.1% In 9M12: Spanish food company Ebro Foods' net profit increased 19.1% year-on-year (y-o-y) to EUR110mn (US$141.6mn) in 9M12. The rise has been attributed to the successful integration of businesses taken over in 2011 and innovation in the company's rice and pasta businesses. Ebro's earnings before interest, tax, depreciation and amortisation rose 12% y-o-y to EUR208mn (US $267.8mn) and its net sales increased 16% y-o-y to EUR1.52bn (US$1.2bn) in 9M12. The company's profit before tax increased 24% y-o-y to EUR178mn (US$229.1mn) in the reported period.

Prices Of Italian, Spanish Wines Set To Rise: Following poor grape harvests in Italy and Spain, the price of wine from these countries is expected to rise, reports The Telegraph. Forecasts for the Spanish yield are 40% lower than in 2011, and Italy's are 8% lower, with some experts predicting it to be the nation's second smallest harvest since 1950. With New Zealand and Australian wines having already increased in price due to low harvests, the average price of a table bottle of Spanish wine has increased by 4% to GBP4.55 (US $7.32), and Italian wine has increased by 3% to GBP4.37 (US$7.03), with experts predicting prices could increase by another 10%.

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