Fast Market Research recommends "Canada Food & Drink Report Q4 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 12/02/2013 -- For the most part, the Canadian economy remains relatively healthy, supporting our positive longer-term view of the country's food and drink markets. For 2014, we expect improvements in economic activity, on the back of a US rebound. However, we do caution that Canadian households continue to face deleveraging, which is likely to hold back discretionary spending. Domestic demand growth is set to slow significantly for at least the next couple of years, although we expect steady food and drink market growth to occur over the longer term.
Headline Industry Forecasts (local currency)
- 2013 per capita food consumption growth = +1.18% year-on-year (y-o-y); forecast compound annual growth rate (CAGR) to 2017 = +1.45%;
- 2013 alcoholic drink sales growth = +4.16% y-o-y; forecast CAGR to 2017 = +4.45%;
- 2013 soft drink sales growth = +3.24% y-o-y; forecast CAGR to 2017 = +3.73%;
- 2013 mass grocery retail sales growth = +2.61% y-o-y; forecast CAGR to 2017 = +3.01%.
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Key Industry Trends And Developments
Foreign Companies Looking to Establish Local Manufacturing Base: In the past few months, Spain-based food processing company Natra was reportedly looking to establish a new production plant in Canada, as part of its strategy to cater to the rising demand for its products and increase sales in the North American market. In a related development, US Del Monte Fresh Produce plans to expand into Canada with the launch of its first fresh-cut processing plant in the country by Q4 2013.
Sobeys Buys Safeway's Canadian Business: Empire Company Limited, the parent company of Canadabased food retailer Sobeys, is poised to acquire US supermarket chain Safeway's Canadian business for a cash consideration of CAD5.8bn (US$5.69bn) plus assumed liabilities of the acquired company. Sobeys will acquire Safeway's 213 grocery stores in western Canada, along with four distribution centres and 12 manufacturing plants. The move is scheduled to be finalised in the autumn of 2013.
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