New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/03/2013 -- We remain broadly optimistic in our outlook for the Central American consumer (covering the markets of Guatemala, Honduras, Costa Rica and El Salvador), despite the downside risks posed by the global economic uncertaintly and the increased security risks in parts of the region. Further development of organised retail will allow for a degree of premiumisation to take place, with discounters expected to outperform.
Headline Industry Data (regional averages)
- 2012 per capita food consumption (US$) = +5.0%; forecast to 2016 = +26.9%
- 2012 alcoholic drink sales (litres) = +6.3%; forecast to 2016 = +35.4%
- 2012 soft drink sales (litres) = +5.6% ; forecast to 2016 = +31.4%
- 2012 MGR sales (US$) = +5.9%; forecast to 2016 = +33.6%
Key Company Trends
Coca-Cola Trials Biogradable Bags in El Salvador: In July 2012, US beverage company The Coca-Cola Company successfully trialled biodegradable bottle-shaped plastic bags for its flagship brand Coke in El Salvador and subsequently in neighbouring countries, according to Beverage Daily. Street vendors had been selling the drink in plastic bags as consumers didn't want to pay extra for the returnable glass bottle. Coca-Cola designed the new bags in the contour bottle shape to recover its brand image and save consumers money.
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Costa Rica Starts Exports of Milk to Venezuela: In a move signalling the return to strength of the Costa Rican dairy industry, exports of milk to Venezuela were shipped in June 2012. The Dos Pinos Cooperative of Milk Producers is expecting to export 240 containers of UHT milk, worth some US$5mn, with further expansion of volumes likely to occur given rising demand in Venezuela.
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