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Chile Food and Drink Report Q3 2010
Business Monitor International, June 2010, Pages: 75
The Chile 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 Chile's food and drink industry.
Our forecasts for consumption in Chile over the next five years are among the strongest in Latin America and, in combination with the country's market friendly economic policies, explain why Chile sits at the top of our Latin America Food & Drink Business Environment Ratings. All of our top-line food and drink indicators are expected to advance strongly over the next five years, perhaps only limited by signs of maturity in some sectors.
Headline Industry Data
- 2010 per capita food consumption = +7%; forecast to 2014 = +34%
- 2010 alcoholic drink sales = +5%; forecast to 2014 = +26%
- 2010 soft drink sales = +9% ; forecast to 2014 = +43%
- 2010 mass grocery retail sales = +5%; forecast to 2014 = +21% Key Macroeconomic Data
- 2010 Real GDP growth = +5.2% (2009, -1.5%)
- 2010 Consumer Price Index = +1.5% chg y-o-y (period average) (2009, +8.7%)
- 2010 Unemployment Rate = 7.8% (period average) (2009, 9.6%)
Key Company Trends:
Chile as regional hub –
The economic and natural advantages encouraging multinational firms to build production facilities in Chile is reflected in the news that, at the start of 2010, Swiss food giant Nestlé opened a new research and development (R&D) centre for biscuits and cereal-based snacks in the capital, Santiago.
Growth of private label soft drinks –
Chile’s soft drinks association ANBER has reported that soft drinks sales in the country declined during 2009 in line with a drop in discretionary spending due to the economic downturn. However, the slowdown boosted demand for private label soft drinks with the country’s largest producer in this channel, Embotelladora Latinoamericana (EL), registering strong sales growth.
Key Risks to Outlook:
Market maturity –
A limiting factor on our growth forecasts is the growing maturity of the food, drink and retail sectors; for example, Chileans are already among the highest consumers of soft drinks in the world. Secondary chinese slowdown – Along with market maturity the key risk to our consumption forecasts is the prospect of a secondary slowdown in China. Chinese demand for strategic raw materials such as copper helped prop up Chilean growth during 2009 and the country has now overtaken the US as Chile's main export destination. However, overly accommodative fiscal and monetary stimuli in China have led to an overheating that could result in a sharp withdrawal in 2011.
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