Caribbean Food & Drink Report

Published 20 April 2015

  • 153 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Caribbean Food & Drink Report

BMI View: We are turning more positive regarding economic growth in the Caribbean, as structural and financial reforms take hold in the region, tourism numbers are picking up and growth is stronger in key western states such as the US. The large decline in the price of oil over the last nine months will boost the region's consumer spending, as the Caribbean is a large net oil importer. Inflation will remain low which will help food consumption growth over the coming years. That said, many regional economies continue to be heavily indebted which limits general investment. We believe that general food consumption growth will be strongest in Jamaica and the Dominican Republic. In the Dominican Republic's case, food consumption is coming off of a very low base. Ongoing recession in Puerto Rico, one of the region's most sophisticated markets, is likely to continue in 2015.

  • Bahamas: +1.1%

  • Barbados: +0.7%

  • Dominican Republic: +5.9%

  • Jamaica: +7.2%

  • Puerto Rico: +3.6%

  • Trinidad & Tobago: +3.1%

Real GDP Growth Forecast 2015 (local currency):

  • Bahamas: +1.3%

  • Barbados: +2.1%

  • Dominican Republic: +6.4%

  • Jamaica: +1.6%

  • Puerto Rico: -1.0%

  • Trinidad & Tobago: -0.2%

Forecast Food Consumption Compound Annual Growth Rate 2014 to 2019 (local currency):

  • Bahamas: +1.5%

  • Barbados: +1.5%

  • Dominican Republic: +6.3%

  • Jamaica: +6.3%

  • Puerto Rico: +4.0%

  • Trinidad & Tobago: +3.5%

Dominican Republic The Regional Outperformer
Select Countries - Food Consumption Growth (% chg y-o-y in USD)

Key Company Trends

D&G Divests To Focus On Red Stripe : Diageo-owned Desnoes and Geddes (D&G) will increasingly concentrate on its Red Stripe beer brand to the detriment of some of its other brands. The D&G management has repeatedly said that it recognises Red Stripe as having the strongest growth opportunity in the company, and will increase its marketing and production of the beer both for domestic consumption and for export. In December 2013, D&G sold its minority...

Table of Contents

BMI Industry View
7
SWOT
10
Food
10
Drink
12
Mass Grocery Retail
14
Industry Forecast
16
Consumer Outlook
16
Food
18
Food Consumption
18
Table: Caribbean - Food Consumption - Historical Data & Forecasts
19
Table: Caribbean - Meat & Dairy - Historical Data & Forecasts
21
Drink
21
Alcoholic Drinks
21
Table: Caribbean - Beer - Historical Data & Forecasts
22
Table: Caribbean - Spirits - Historical Data & Forecasts
23
Soft Drinks
23
Table: Caribbean - Soft Drinks - Historical Data & Forecasts
24
Mass Grocery Retail
25
Bahamas
25
Barbados
25
Dominican Republic
26
Jamaica
27
Puerto Rico
28
Trinidad & Tobago
29
Table: Caribbean - Mass Grocery Retail Sales (2014-2019)
30
Trade
31
Table: Caribbean Food & Drink Trade Balance - Historical Data & Forecasts, 2014-2019 (USDmn)
31
Featured Analysis
32
Cuba: Brightening Outlook For Tourism Amid Economic Transition
32
Table: Macroeconomic Forecasts (Cuba 2011-2017)
34
Macroeconomic Forecasts
35
Economic Analysis
35
Economic Analysis
39
Economic Analysis
43
Economic Analysis
46
Table: Economic Activity (Trinidad & Tobago 2010-2019)
51
Industry Risk Reward Index
52
Latin America Risk/Reward Index
52
Table: Latin America Food & Drink Risk/Reward Index Q315
54
Table: Latin America Food & Drink Risk/Reward Sub-Factor Index Q215 (scores out of 10)
57
Market Overview
58
Food
58
Drink
60
Mass Grocery Retail
62
Industry Trends And Developments
63
Food
63
Key Industry Trends And Developments
63
Drink
65
Key Industry Trends And Developments
65
Competitive Landscape
70
Table: Key Players In The Caribbean Food Market
70
Table: Key Players In The Caribbean Drinks Market
71
Table: Key Players In The Caribbean Mass Grocery Retail Market
73
Company Profile
74
Seprod (Jamaica)
74
Canco Ltd (Jamaica)
76
Jamaica Producers Group (Jamaica)
78
Jamaica Broilers Group (Jamaica)
80
Wisynico Group (Jamaica)
83
D&G/Red Stripe (Jamaica)
85
Salada Foods (Jamaica)
87
Cervecer-a Nacional Dominicana (Dominican Republic)
89
Angostura (Trinidad & Tobago)
91
Walmart (Puerto Rico)
94
Supermercados Nacional (Dominican Republic)
96
Global Industry Overview
98
Table: Food and Drink Core Views - Q115 Roundup
105
Demographic Forecast
107
Table: Population Headline Indicators (Barbados 1990-2025)
108
Table: Key Population Ratios (Barbados 1990-2025)
108
Table: Urban/Rural Population & Life Expectancy (Barbados 1990-2025)
109
Table: Population By Age Group (Barbados 1990-2025)
109
Table: Population By Age Group % (Barbados 1990-2025)
110
Demographic Forecast
112
Table: Population Headline Indicators (Bahamas 1990-2025)
113
Table: Key Population Ratios (Bahamas 1990-2025)
113
Table: Urban/Rural Population & Life Expectancy (Bahamas 1990-2025)
114
Table: Population By Age Group (Bahamas 1990-2025)
114
Table: Population By Age Group % (Bahamas 1990-2025)
115
Demographic Forecast
117
Table: Population Headline Indicators (Cuba 1990-2025)
118
Table: Key Population Ratios (Cuba 1990-2025)
118
Table: Urban/Rural Population & Life Expectancy (Cuba 1990-2025)
119
Table: Population By Age Group (Cuba 1990-2025)
119
Table: Population By Age Group % (Cuba 1990-2025)
120
Demographic Forecast
122
Table: Population Headline Indicators (Dominican Republic 1990-2025)
123
Table: Key Population Ratios (Dominican Republic 1990-2025)
123
Table: Urban/Rural Population & Life Expectancy (Dominican Republic 1990-2025)
124
Table: Population By Age Group (Dominican Republic 1990-2025)
124
Table: Population By Age Group % (Dominican Republic 1990-2025)
125
Demographic Forecast
127
Table: Population Headline Indicators (Haiti 1990-2025)
128
Table: Key Population Ratios (Haiti 1990-2025)
128
Table: Urban/Rural Population & Life Expectancy (Haiti 1990-2025)
129
Table: Population By Age Group (Haiti 1990-2025)
129
Table: Population By Age Group % (Haiti 1990-2025)
130
Demographic Forecast
132
Table: Population Headline Indicators (Jamaica 1990-2025)
133
Table: Key Population Ratios (Jamaica 1990-2025)
133
Table: Urban/Rural Population & Life Expectancy (Jamaica 1990-2025)
134
Table: Population By Age Group (Jamaica 1990-2025)
134
Table: Population By Age Group % (Jamaica 1990-2025)
135
Demographic Forecast
137
Table: Population Headline Indicators (Puerto Rico 1990-2025)
138
Table: Key Population Ratios (Puerto Rico 1990-2025)
138
Table: Urban/Rural Population & Life Expectancy (Puerto Rico 1990-2025)
139
Table: Population By Age Group (Puerto Rico 1990-2025)
139
Table: Population By Age Group % (Puerto Rico 1990-2025)
140
Demographic Forecast
142
Table: Population Headline Indicators (Trinidad & Tobago 1990-2025)
143
Table: Key Population Ratios (Trinidad & Tobago 1990-2025)
143
Table: Urban/Rural Population & Life Expectancy (Trinidad & Tobago 1990-2025)
144
Table: Population By Age Group (Trinidad & Tobago 1990-2025)
144
Table: Population By Age Group % (Trinidad & Tobago 1990-2025)
145
Glossary
147
Food & Drink
147
Mass Grocery Retail
147
Methodology
149
Industry Forecast Methodology
149
Sector-Specific Methodology
150
Sources
150
Risk/Reward Index Methodology
151
Table: Food & Drink Risk/Reward Index Indicators
152
Table: Weighting
153

The Caribbean Food & Drink Report features BMI Research's market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's Caribbean Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Barbados, Bahamas, Jamaica, Trinidad & Tobago, Dominican Republic, Puerto Rico.

Key Benefits

  • Benchmark BMI's independent food and drink industry forecasts for Barbados, Bahamas, Jamaica, Trinidad & Tobago, Dominican Republic, Puerto Rico to test other views - a key input for successful budgeting and strategic business planning in the Barbadian, Bahamian, Jamaican, Trinidadian, Dominican, Puerto Rican food and drink market.
  • Target business opportunities and risks in Barbados, Bahamas, Jamaica, Trinidad & Tobago, Dominican Republic, Puerto Rico through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering food and drink manufacturing and consumption and the mass grocery retail market.

Industry SWOT Analysis

Analysis of the major strengths, weaknesses, opportunities and threats within the food, drink and mass grocery retail sectors and within the broader political, economic and business environment.

BMI’s Food and Drink Risk Reward Index

BMI’s Risk Reward Index provides investors (food and drink manufacturers and mass grocery retailers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic points. These provide indices of highest to lowest appeal to investors, with each position explained.

Food Forecasts

BMI’s food chapter is divided into sections such as meat, fish, confectionary, dairy and canned foods, and provides insight into each market’s food industry, centred on a forecast to end-2019 for the sector. The chapter includes the following elements:

  • Industry Forecast Scenario: Historical data series and a forecast to end-2019 for growth of key indicators within a market’s food industry. Indicators include food consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.
  • Industry Developments: A summary of corporate developments, including news on M&As, FDI, expansions, closures and financial results, in addition to analysis and explanation of the latest industry events and how these could influence further investment.
  • Market Overview: An overview of the structure of the market, introducing the key players and discussing underlying trends.

Drink Forecasts

Segmented the same way as BMI’s food chapter, the drink section provides insight into each market’s drink industry, centred on a forecast to end-2019 for the sector. Forecast indicators include alcoholic and soft drink sales by value, volume and sub-sector and tea and coffee sales, among others.

Mass Grocery Retail Forecasts

Segmented the same way as BMI’s food and drink chapters, the mass grocery retail section provides insight into each market’s grocery retail industry, centred on a forecast to end-2019 for the sector. Forecast indicators include mass grocery retail sales by format (including supermarkets, hypermarkets, convenience and discount stores) and a breakdown of the organised retail sector versus the traditional sector, among others.

Competitive Landscape

Illustration of the mass grocery retail and food and drink industries via rankings tables comparing revenues, number of outlets and number of employees. This chapter also includes data-rich, in-depth regional analysis of the market position, business strategies and investment potential of the region’s leading mass grocery retail and food and drink operators.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Food & Drink reports draw on an extensive network primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc