New Food market report from Business Monitor International: "South Africa Food & Drink Report Q4 2013"

Boston, MA -- (SBWire) -- 11/22/2013 --We continue to hold a positive outlook on South Africa's consumer story, as the country's economy continues to recover post-recession. Private consumption is expected to be stable in 2013, and we expect the South African population to grow over our forecast period to 2017. Although the economic recovery has not been without challenges and will likely remain uneven, in our view, the consumer sector continues to hold up.

Headline Industry Data

- 2013 per capita food consumption (local currency) = +8.5%; five-year forecast compound annual growth (CAGR) to 2017 = +7.0%.
- 2013 soft drinks volume sales = +5.4%; forecast compound annual growth to 2017 = +6.0%.
- 2013 mass grocery retail sales (local currency) = +9.5%; forecast compound annual growth to 2017 = +7.7%.

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Key Company Developments

Shoprite Best Placed To Grow At Home, In Wider Africa: Shoprite has been one of the outstanding corporate South African success stories, reporting sales increases for the past five years. The food retailer has established itself as a leader in South Africa's organised grocery sector and in leading the charge into wider Sub-Saharan Africa, where there are some phenomenal long-term growth opportunities. In Shoprite's year ending June 2013, group sales increased 12.1% year-on-year, with profits rising by 15.6% and 114 new stores opened. Looking at food retailing specifically (Shoprite also sells furniture), we remain of the opinion that it is the best placed South African retailer to continue leading growth both at home and in wider Africa, where the weakness of the rand against some other African currencies is making South African imports more affordable.

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