New Food market report from Business Monitor International: "Lebanon Food & Drink Report 2013"
Boston, MA -- (SBWIRE) -- 02/20/2013 -- The outlook for Lebanese consumers is looking increasingly cloudy, with downside pressures building both on the domestic and external fronts. The economy's external position is being undermined by elevated commodity import bills (with Lebanon having to rely on imports of fuel), a collapse in tourism revenues, and a slowdown in foreign capital inflows. Moreover, with no end in sight to the ongoing civil war in Syria, we now believe Lebanon's economy will remain in a soft patch for a protracted period, and have revised down our 2013 real GDP growth. Elevated political risks will also have a negative impact on consumption patterns, with premiumisation still in play, but only within wealthier urban pockets.
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Headline Industry Data (local currency)
? 2013 per capita food consumption = +2.74%; forecast compound annual growth rate (CAGR) to 2017 = +4.06%. ? 2012 soft drink sales = +5.30%; forecast CAGR to 2017 = +4.90%. ? 2013 mass grocery retail (MGR) sales = +5.10%; forecast (CAGR) to 2017 = +7.19%.
Key Company Trends
Foods Safety Remains an Issue: Since the start of 2012, authorities have organised a number of raids on food storage facilities in a bid to improve food safety and consumer trust in regards to domestic products. The campaign, a joint effort by the agencies including the Consumer Protection Bureau, Army units and the Internal Security Forces (ISF), mirrors similar operations undertaken in the previous year.
Spinneys Opens Eighth Outlet in Lebanon: In September 2012, regional retailer Spinneys inaugurated its eighth store in Lebanon. The new outlet, which is located in Byblos, employs 200 staff. The branch, spread over an area of 3,000 square metres, has a capacity for parking of 300 cars.
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