New Food market report from Business Monitor International: "Spain Food & Drink Report Q3 2013"

Boston, MA -- (SBWire) -- 08/09/2013 --As a result of Spanish unemployment reaching 27.2% in Q113 (the highest ever recorded level) we see Spain's private consumption picture deteriorating further over the next few quarters. Already low, real wages fell by 3.2% y-o-y in Q412 and unemployment is expected to remain above 25% until at least 2016, which will weigh heavily on disposable incomes and consumer spending for the time being. This economic environment will continue to create ideal conditions for private labels to thrive and will provide 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

Nestle Spain Announces EUR44mn Investment Programme For Girona Unit: Nestle Spain's CEO Bernard Meunier announced a two-year investment programme in Barcelona, under which the company is investing EUR44mn (US$56.67mn) on new technology for its Nescafe factory at the Spanish city of Girona. The new technology will make the factory more efficient in the production of soluble coffee. The new equipment will also improve the ecological footprint of the facility by considerably reducing water consumption and energy used in the manufacturing process. Nestle Spain is the Spanish subsidiary of Swiss confectioner and consumer goods firm Nestle.

Diageo Pours Investment In Gin To Tap Sales Surge UK brewer Diageo is pumping fresh investment into its gin brands - Gordon's and Tanqueray - in a bid to take advantage of a massive increase in sales of the spirit in Spain and the UK. This sales upturn comes even as the two countries face sluggish economic environments. Diageo has attributed this rise in sales to the increased popularity of retro gin-based cocktails such as the French 75, primarily sold in Madrid and London. Spain's gin market rose 20% in 2012 even as the country witnessed record unemployment figures during the year, said Ed Pilkington, Diageo's global category director for vodka, gin and rum

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