Central America Food & Drink Report

Published 24 December 2014

  • 151 pages
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$1,295.00
Central America Food & Drink Report

BMI View: The economic trajectory for the region remains divergent. Despite our expectations for slower real GDP growth in Panama in the next several years, it will remain the regional outperformer. On the other hand, we have a more mixed outlook for growth in the 'northern triangle' countries. While they will likely benefit from improved agricultural yields and stronger US demand for manufactured goods, Guatemala, Honduras and El Salvador are still vulnerable to significant structural macroeconomic weaknesses.

Headline Industry Data (regional averages)

  • 2014 per capita food consumption (USD) = +4.82%; forecast compound annual growth rate (CAGR) 2013 to 2018 = +4.18%.

  • 2014 alcoholic drink sales (litres) = +4.41%; forecast CAGR 2013 to 2018 = +2.30%.

  • 2014 soft drink sales (litres) = +5.01%; forecast CAGR 2013 to 2018 = +2.71%.

  • 2014 mass grocery retail sales (USD) = +6.13%; forecast CAGR 2013 to 2018 = +5.19%.

Key Company Trends

Kamuk Diversifies Product Range: In autumn 2014, Costa Rica-based sauce manufacturer, Alimentos Kamuk, announced plans to build a production plant as the company expands its product range. Part of local agribusiness company Grupo Pelon, Kamuk exports over three quarters of its sauces to the US and neighbouring Central American countries. The project has secured finance from German investment fund DEG and will involve Kamuk extending its range into products such as pasta sauces and jams. There have also been press reports that Kamuk, in conjunction with Grupo de Alimentacion Calvo, is to export to Europe under a private brand banner.

Florida Ice A nd Farm Moves I nto Craft Beer: In autumn 2014, Costa Rican drinks company Florida Ice and Farm confirmed that the company is to invest in creating a small craft beer manufacturing and distribution business. The introductory brand is to be called Domingo 7. According to officials at the company, the entry into this sector by Florida Ice and Farm is in response to the growing...

Table of Contents

BMI Industry View
9
SWOT
11
Food
11
Drink
13
Mass Grocery Retail
15
Industry Forecast
17
Consumer Outlook
17
Food
21
Food Consumption
21
Table: Guatemala - Food Consumption Indicators, 2011-2018
22
Table: Costa Rica - Food Consumption Indicators, 2011-2018
22
Table: El Salvador - Food Consumption Indicators, 2011-2018
23
Table: Honduras - Food Consumption Indicators, 2011-2018
23
Confectionery
23
Meat
24
Table: El Salvador - Meat Volume Sales, Production & Trade, 2011-2018
24
Jams & Jellies
26
Table: El Salvador - Jams & Jellies Volume Sales, Production & Trade, 2011-2018
26
Pasta
26
Table: El Salvador - Pasta Volume Sales, Production & Trade, 2011-2018
27
Prepared Fish
27
Table: El Salvador - Fish Volume Sales, Production & Trade, 2011-2018
28
Table: Costa Rica - Fish Volume Sales, Production & Trade, 2011-2018
28
Oils & Fats
30
Table: Costa Rica - Soya Bean Oil Volume Sales, Production & Trade, 2011-2018
31
Table: Guatemala - Soya Bean Oil Volume Sales, Production & Trade, 2011-2018
32
Table: El Salvador - Margarine Volume Sales, Production & Trade, 2011-2018
33
Dairy
33
Table: El Salvador - Dairy Volume Sales, Production & Trade, 2011-2018
34
Drink
38
Hot Drinks
38
Table: Guatemala Coffee Sales, 2011-2018
39
Table: Costa Rica Coffee Sales, 2011-2018
39
Table: El Salvador Coffee Sales, 2011-2018
39
Table: Honduras Coffee Sales, 2011-2018
39
Alcoholic Drinks
40
Table: Guatemala Alcoholic Drink Sales, 2011-2018
40
Table: Costa Rica Alcoholic Drink Sales, 2011-2018
41
Table: El Salvador Alcoholic Drink Sales, 2011-2018
41
Table: Honduras Alcohol Sales, 2011-2018
41
Soft Drinks
42
Table: Guatemala Soft Drink Sales, 2011-2018
42
Table: Costa Rica Soft Drink Sales, 2011-2018
43
Table: El Salvador Soft Drink Sales, 2011-2018
43
Table: Honduras Soft Drink Sales, 2011-2018
43
Mass Grocery Retail
44
Table: Regional Sales Breakdown By Retail Format, %, 2012-2022
44
Table: Guatemala Mass Grocery Retail Sales, 2011-2018
45
Table: Costa Rica Mass Grocery Retail Sales, 2011-2018
45
Table: El Salvador Mass Grocery Retail Sales, 2011-2018
46
Table: Honduras Mass Grocery Retail Sales, 2011-2018
46
Trade
46
Table: Guatemala Food And Drink Trade Balance, 2011-2018
47
Table: Costa Rica Food And Drink Trade Balance, 2011-2018
48
Table: El Salvador Food And Drink Trade Balance, 2011-2018
48
Table: Honduras Food And Drink Trade Balance, 2011-2018
48
Economic Outlook
49
Economic Analysis
49
Table: El Salvador - Current Account
53
Economic Analysis
54
Table: Guatemala - Current Account
57
Political Risk Analysis
58
Table: Honduras - Economic Activity
60
Economic Analysis
61
Table: Costa Rica - Current Account
64
Industry Risk Reward Ratings
65
Latin America Risk/Reward Ratings
65
Table: Latin America Food & Drink Risk/Reward Ratings Q414
66
Table: Latin America Food & Drink Risk/Reward Sub-Factor Ratings Q414 (scores out of 10)
69
Market Overview
70
Food
70
Drink
71
Hot Drinks
71
Soft Drinks
72
Alcoholic Drinks
73
Mass Grocery Retail
74
Industry Trends And Developments
76
Food
76
Key Industry Trends And Developments
76
Drink
82
Key Industry Trends And Developments
82
Coffee Growers Gaining Support
84
Mass Grocery Retail
88
Key Industry Trends And Developments
88
Competitive Landscape
91
Table: Key Players In Central America's Food & Drink Sector
91
Table: Key Players In Guatemala's Mass Grocery Retail Sector
92
Table: Key Players In El Salvador's Mass Grocery Retail Sector
92
Table: Key Players In Costa Rica's Mass Grocery Retail Sector
93
Table: Key Players In Honduras' Mass Grocery Retail Sector
94
Company Profile
95
Diana Food
95
CBC (formerly Central America Beverage Corporation,CABCORP)
97
SABMiller
99
Florida Ice And Farm
102
Walmart de M-xico y Centroam-rica
104
Global Industry Overview
107
Table: Select Food Companies - R&D And Advertising Financials
113
Table: Food And Drink Core Views
115
Demographic Forecast
116
Costa Rica
116
Table: Costa Rica's Population By Age Group, 1990-2020 ('000)
117
Table: Costa Rica's Population By Age Group, 1990-2020 (% of total)
118
Table: Costa Rica's Key Population Ratios, 1990-2020
119
Table: Costa Rica's Rural And Urban Population, 1990-2020
119
El Salvador
120
Table: El Salvador's Population By Age Group, 1990-2020 ('000)
121
Table: El Salvador's Population By Age Group, 1990-2020 (% of total)
122
Table: El Salvador's Key Population Ratios, 1990-2020
123
Table: El Salvador's Rural And Urban Population, 1990-2020
123
Guatemala
124
Table: Guatemala's Population By Age Group, 1990-2020 ('000)
125
Table: Guatemala's Population By Age Group, 1990-2020 (% of total)
126
Table: Guatemala's Key Population Ratios, 1990-2020
127
Table: Guatemala's Rural And Urban Population, 1990-2020
127
Honduras
128
Table: Honduras' Population By Age Group, 1990-2020 ('000)
129
Table: Honduras' Population By Age Group, 1990-2020 (% of total)
130
Table: Honduras' Key Population Ratios, 1990-2020
131
Table: Honduras' Rural And Urban Population, 1990-2020
131
Glossary
132
Food & Drink
132
Mass Grocery Retail
132
Methodology
134
Industry Forecast Methodology
134
Sector-Specific Methodology
135
Sources
135
Risk/Reward Rating Methodology
136
Table: Food & Drink Risk/Reward Rating Indicators
137
Table: Weighting
138

The Central America 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 Central America 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 Guatemala, El Salvador, Costa Rica, Honduras.

Key Benefits

  • Benchmark BMI's independent food and drink industry forecasts for Guatemala, El Salvador, Costa Rica, Honduras to test other views - a key input for successful budgeting and strategic business planning in the Guatemalan, Salvadoran, Costa Rican, Honduran food and drink market.
  • Target business opportunities and risks in Guatemala, El Salvador, Costa Rica, Honduras 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