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

Boston, MA -- (SBWire) -- 04/29/2013 --Consumer confidence will continue to be very sluggish in Italy, as the economy is forecast to contract once again in 2013. We estimate that the Italian economy contracted by 2.4% in 2012 and forecast that it will contract again by 1.3% in 2013. The Italian economy continues to face severe demand and structural weakness, with the country's large public debt load and weak domestic demand leaving the economy vulnerable to external shocks. We forecast private consumption to contract by 1.4% in 2013 - near to the 1.6% contraction seen in 2009 - as households are hit by austerity measures and rising unemployment. Private consumption is likely to lag real GDP growth for years to come as wage growth remains subdued in order for the Italian export sector to regain competitiveness.

Headline Industry Data (local currency)

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- 2013 per capita food consumption = +0.09% year-on-year (y-o-y); compound annual growth rate (CAGR) forecast to 2017 = +1.02%
- 2013 alcoholic drink value sales = +2.28%; CAGR forecast to 2017 = +2.45%
- 2013 soft drink value sales = -1.12% ; CAGR forecast to 2017 = +1.48%
- 2013 mass grocery retail sales = +0.15%; CAGR forecast to 2017 = +1.22%

Key Industry Trends And Developments

Campari Grows Profits Thanks To US Performance: Leading Italian drinks company Campari announced in March 2013 that it had registered net profit of EUR156.7mn for its 2012 financial year, down 69% y-o-y. However, overall sales grew by 5.2% thanks largely to strong 8.8% growth in the US market. Other strong markets included Australia, Argentina and Russia, while Italy, Germany and Brazil continued to underperform. Net sales for 2012 reached EUR1.34bn, an increase of 5.2%.

Barilla Offloads German Bakery Business: In early 2013, Barilla announced that it has entered into an agreement to sell its interests in its German bakery business Lieken to Czech Republic-based Group Agrofert for an undisclosed sum. The announced disposal of Lieken fits with the company's strategy, as the German business focuses on the private label bakery sector and does not fit with a strategy built around branding and innovation. In future, the group will concentrate on its core business of pasta, sauces and ready-made meals on a global level.

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