|
|
 |
|
Viewing report
|
|
|
|
Kuwait Food and Drink Report Q3 2010
Business Monitor International, May 2010, Pages: 52
The Kuwait Food and Drink Report provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kuwait's food and drink industry.
Despite improvements made over H209 (calendar), consumer confidence in Kuwait remains some way off its pre-downturn 2009 peak with discretion still carrying a marked influence on spending. Although government legislation continues to hamper the development of the organised mass grocery retail (MGR) industry with co-operatives playing a much more significant role compared to most of the Gulf region, our headline forecasts suggest promising upside to MGR sales to 2014. BMI estimates organised retail channels to currently account for about 48% of grocery sales with the informal sector continuing to play a dominant role.
Introducing revised mass grocery retail forecasts this quarter that more appropriately reflect headline food consumption figures, BMI sees MGR sales growing at an annual average rate of 3.85% with the hypermarket and supermarket segments driving growth.
Thus far unable to target potentially lucrative pockets of consumers located residentially owing to legislation that prohibits private retailers from setting up near homes, development of the supermarket and modern convenience store segments in particular have lagged similarly high income Gulf markets like the UAE and Qatar. A relaxation in the prohibitive geographical legislation would likely lead to BMI pushing up our headline MGR forecasts.
The main MGR player by some distance remains Union of Consumer Cooperative Societies (UCCS), which accounts for a significant portion of grocery retail sales. Emphasising the fact that Kuwait’s MGR industry has yet to come close to realising its potential, regional hypermarket leaders Carrefour MAF and EMKE-owned Lulu have invested only modestly given the country’s income profile (GDP per capita of nearly US$35,000 in 2009) and fairly large population by regional standards (3.2mn).
By 2019, BMI anticipates the proportional contribution of organised retail to consolidated grocery sales to appreciate to 70%. Consequently, much of the industry’s growth will take place over the coming decade with any relaxation in legislation likely to prove a catalyst to greater investment from regional players.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Kuwait Food and Drink Report Q1 2010
Kuwait Food and Drink Report Q2 2010
Kuwait Food and Drink Report Q3 2011
Kuwait Food and Drink Report Q4 2009
Kuwait Food and Drink Report Q4 2010
Kuwait Food & Drink Report Q1 2012
Kuwait Food and Drink Report Q2 2012
Kuwait Food and Drink Report Q3 2009
Kuwait Food and Drink Report Q1 2009
Kuwait Food and Drink Report Q2 2009
|
|
|
|
