"Bahrain Food & Drink Report Q1 2013" Now Available at Fast Market Research
New Food market report from Business Monitor International: "Bahrain Food & Drink Report Q1 2013"
Boston, MA -- (SBWire) -- 12/28/2012 --We continue to hold a relatively bullish outlook on household consumption in Bahrain. Although timely data out of the country is relatively sparse, previously announced hikes to public sector salaries are most likely beginning to feed through to the wider economy. Local reports have indicated that growth in car sales was well into double-digits through the first five months of 2012. With banking sector credit growth hitting three-year highs in H112, we expect private consumption to remain well supported in the near term.
Headline Industry Data (local currency)
- 2012 food consumption growth = +8.1%; compound annual growth rate (CAGR) to 2016 = +7.7%
- 2012 soft drink value sales growth = +6.9%; CAGR to 2016 = +6.7%
- 2012 mass grocery retail sales = +10.1%; CAGR to 2016 = +9.4%
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Key Company Trends
Nestle Makes Major Investment: In June 2012, global food and drink giant Nestle announced plans to construct a new US$136.1mn production facility in Dubai. Nestle has signed a partnership agreement with Dubai World Central for a 175,000 sq m plot that will be used to manufacture nutrition, culinary and coffee products. By boosting its regional manufacturing presence, Nestle will be able to tailor an even greater proportion of its products to suit tastes and preferences across the Middle East and North Africa region. This will also allow for greater local sourcing, fresher product, and being the second production facility in Dubai, it will create opportunities for synergies.
Investments in Luxury Water: In July 2012, Qatar-based Tamani Foodstuffs announced that it has entered into an agreement with Canadian luxury drink producer Gize to expand Gize's presence in the Middle East region. Tamami Foodstuffs will be the new sales and distribution partner for the nonalcoholic drinks company that specialises in high-end mineral water. Tamani will represent Gize in Bahrain, Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Yemen. A Gize representative has said that this partnership with Tamani will benefit Gize greatly as it will allow it to benefit from Tamani's network and logistics in order to be present in luxury hotels and gourmet venues, and make the drink a recognised part of menus in luxury venues across the region.
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