Italy Food & Drink Report

Published 19 June 2015

  • 105 pages
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$1,295.00
Italy Food & Drink Report

BMI View: The Italian economy will return to growth in 2015 after a three-year recession. We forecast real GDP to expand by 0.7% in 2015 and 1.1% in 2016. While we expect the economic outlook to improve significantly in 2015, severe structural challenges are still facing the Italian economy. According to our forecasts, Italy's economic output will remain well below pre-crisis levels over the medium-to-long term, as we forecast annual real GDP growth will barely break 1% over the next 10 years. With one of the highest household savings rates in Europe prior to the global economic crisis, and among the lowest private debt burdens, private consumption was not a strong driver of GDP growth in the past decade. We do not expect this trend to change, and forecast private consumption growth of 0.5% in 2015 and 0.8% in 2016.

Headline Industry Data (local currency)

  • 2015 per capita food consumption = +0.1% year-on-year (y-o-y); compound annual growth rate (CAGR) 2014 to 2019 = +0.9%

  • 2015 alcoholic drink value sales = +0.7%; CAGR 2014 to 2019 = +1.4%

  • 2015 soft drink value sales = +0.4%; CAGR 2014 to 2019 = +1.9%

  • 2015 mass grocery retail sales = +0.3%; CAGR 2014 to 2019 = +1.1%

Key Industry Trends And Developments

McCormick Completes Drogheria & Alimentari Purchase: In June 2015, US-based McCormick & Company concluded the acquisition of Italy-based spice producer Drogheria & Alimentari (D&A) in a deal worth EUR85mn (USD97mn). The acquisition agreement was signed by the firms in February 2015. D&A has around 120 employees and operates a manufacturing unit in Florence, Italy, where it produces spices and seasonings. The company generated about EUR50mn (USD54.64mn) in annual sales.

Gruppo Campari Performs Strongly In Q1 : In May 2015, Italy-based drinks producer Gruppo Campari posted a 72.9% year-on-year (y-o-y) increase in pre-tax profit as its brands performed strongly in their key markets. Profit totalled EUR35.8mn (USD40mn) in Q115, to end-March 2015,...

Table of Contents

BMI Industry View
7
SWOT
9
Food
9
Drink
11
Mass Grocery Retail
12
Industry Forecast
13
Consumer Outlook
13
Food
16
Food Consumption
16
Table: Food Consumption Indicators - Historical Data & Forecasts (Italy 2012-2019)
17
Confectionery
17
Table: Confectionery Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Italy 2012-2019)
18
Canned/Prepared Food
19
Frozen Fruit And Vegetables
19
Table: Frozen Fruit & Vegetables Volume Sales, Production & Trade - Historical Data & Forecasts (Italy 2014-2019)
19
Snack Foods
20
Table: Sweet Biscuits Volume Sales, Production & Trade - Historical Data & Forecasts (Italy 2014-2019)
20
Table: Jams & Jellies Volume Sales, Production & Trade - Historical Data & Forecast (Italy 2014-2019)
21
Pasta
21
Table: Pasta Volume Sales, Production & Trade - Historical Data & Forecasts (Italy 2014-2019)
22
Meat, Fish And Dairy
22
Table: Meat Volume Sales, Production & Trade - Historical Data & Forecast (Italy 2014-2019)
23
Oils & Fats
23
Drink
24
Soft Drinks
24
Table: Soft Drinks Sales, Production & Trade (Italy 2014-2019)
25
Hot Drinks
26
Table: Hot Drink Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Italy 2014-2019)
27
Alcoholic Drinks
28
Table: Alcoholic Drinks Value/Volume Sales, Production & Trade - Historical Data & Forecasts (Italy 2014-2019)
29
Mass Grocery Retail
30
Table: Mass Grocery Retail Sales By Format - Historical Data & Forecasts (Italy 2014-2019)
31
Table: Retail Sales Breakdown By Format Type, %
31
Trade
32
Table: Trade Balance - Historical Data & Forecasts (Italy 2014-2019)
32
Macroeconomic Forecast
33
Economic Analysis
33
Table: Economic Activity (Italy 2010-2019)
42
Industry Risk Reward Index
43
Western Europe - Risk/Reward Index
43
Table: Western Europe Food & Drink Risk/Reward Index Q215
44
Italy Risk/Reward Index
48
Market Overview
49
Food
49
Agriculture
49
Food Processing
49
Prepared Food
50
Confectionery
50
Drink
51
Hot Drinks
51
Soft Drinks
51
Alcoholic Drinks
52
Mass Grocery Retail
53
Table: Mass Grocery Retail Sales By Format (Italy 2006-2015)
55
Table: Mass Grocery Retail Sales By Format (Italy 2006-2015)
55
Industry Trends And Developments
56
Food
56
Drink
60
Mass Grocery Retail
63
Competitive Landscape
66
Table: Key Players In Italy's Food Sector
66
Table: Key Players In Italy's Drink Sector
67
Table: Key Players In Italy's Mass Grocery Retail Sector
67
Company Profile
70
Gruppo Galbani
70
Perfetti Van Melle
72
Gruppo Barilla
74
Carapelli Firenze SE
77
Gruppo Campari
79
Birra Peroni
82
Conad
84
Global Industry Overview
86
Table: TESCO - Selected Historical Financial Indicators
90
Table: Food and Drink Team's Core Views
94
Demographic Forecast
96
Table: Population Headline Indicators (Italy 1990-2025)
97
Table: Key Population Ratios (Italy 1990-2025)
97
Table: Urban/Rural Population & Life Expectancy (Italy 1990-2025)
98
Table: Population By Age Group (Italy 1990-2025)
98
Table: Population By Age Group % (Italy 1990-2025)
99
Glossary
101
Food & Drink
101
Mass Grocery Retail
101
Methodology
103
Industry Forecast Methodology
103
Sector-Specific Methodology
104
Sources
104
Risk/Reward Index Methodology
105
Table: Food & Drink Risk/Reward Index Indicators
106
Table: Weighting
107

The Italy 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 Italy 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 Italy.

Key Benefits

  • Benchmark BMI's independent food and drink industry forecasts for Italy to test other views - a key input for successful budgeting and strategic business planning in the Italian food and drink market.
  • Target business opportunities and risks in Italy 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