New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 11/15/2013 -- Although a significant economic recovery in Spain remains some way off, we hold to our view that the country will return to positive real GDP growth in 2014. We hold to our forecast for real GDP to contract by 1.7% in 2013, and grow by 0.3% in 2014, and expect the recovery to be driven by robust exports, which are benefiting from improved competitiveness and a gradual reorientation away from Spain's traditional trading partners in the EU and towards emerging markets. Nevertheless, we stress that the country's recovery will be slow and painful, underpinned by weak private consumption, the government's fiscal consolidation drive and the collapsed property market. This means more sluggish growth for the food and drink sector, while the lower end of the sector will continue to perform the best. In line with this, we believe that Dia is one of a select few Western Europe-based food retailers with good near-term growth prospects in the region.
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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
Prepared Meals Set To See Growth: Spain's ready-meals segment is expected to grow by 3.4% a year in value terms between 2012 and 2017, making it the third-fastest growing category among food sectors. The forecast was made in a new report issued by UK-based consumer market research company Canadean. The expected rise has been attributed to a change in the eating habits of Spanish consumers, who are shifting to prepared meals instead of eating out. The report also noted that Spain has been reeling under the impact of challenging economic conditions, with uncertainties surrounding the euro having further affected consumer spending.
Torres To Release New Cava In 2015: Spainish brewery Torres has announced plans to release a new cava wine in 2015 as it looks to launch a range of wines in the next five years, reports Drinks Business Review. The company's move is aimed at producing a niche, premium cava with initial output of less than 5,000 cases per year. Torres said the new wine, which will be a blend of international and local grape varieties, will be targeted towards the Chinese market.
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