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Peru Food and Drink Report 2011
Business Monitor International, Jan 2011, Pages: 56
The Peru 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 Peru's food and drink industry.
The publisher believes Peru offers one of the most dynamic food and drink sectors in the region, with strong forecasts for economic growth and the expected convergence of the market with its more advanced regional neighbours. The domestic consumer is positioned to be a key driver of the economy going forward and this, along with the country's favourable business environment and the rapid development of the immature retail sector, means that Peru's food and drink industry is expected to be among the best performers in Latin America over our five-year forecast period.
Headline Industry Data:
2011 per capita food consumption = +10.7%; forecast to 2015 = +38.7%
2011 alcoholic drink sales = +5.3%; forecast to 2015 = +25%
2011 soft drink sales = +6.1% ; forecast to 2015 = +28.9%
2011 mass grocery retail sales = +10%; forecast to 2015 = +40%
Key Industry Trends & Developments:
Focus on Premium Segment Beers – In summer 2010, international brewing giant SABMiller announced plans to launch premium brand Miller Genuine Draft in Peru. The launch represents the brand's first outing in South America and is part of SABMiller's plan to drive up profitability in the region through premiumisation. As economic growth continues to drive up incomes in Peru, a trend to upgrading can be expected to accelerate and with the launch of Miller Genuine Draft, SABMiller is evidently positioning itself for further growth in this direction.
Wal-Mart Looks to Expand Peruvian Base – In summer 2010, Distribucion y Servicio (D&S), the Chilean unit of retail giant Wal-Mart offered to buy the 65% stake in local wholesale operator Alvi that it does not already own. Alvi operates 28 wholesale outlets in Chile and owns a 62% stake in Peruvian wholesale business Mayorsa Supermayoristas de Abarrotes, which has 12 stores in the outskirts of Lima. Alvi's interests in Peru add a further dimension to the takeover. With Peru one of the least developed retail markets in Latin America, the sector is poised for tremendous growth over the next five years. The attractiveness of the unsaturated Peruvian market, where food retailing is still dominated by independent retailers and traditional open markets, means that we have little doubt that Wal-Mart is anxious to move into the country.
Key Risks to Outlook:
Export Demand Hit – BMI cautions that there remains the risk of a further global slowdown, which would hit demand for Peruvian exports and reduce investment inflows, posing a downside risk to our otherwise bullish outlook for the economy
Lack of Infrastructure – Peru continues to have significant risks with perhaps the most significant being a lack of infrastructure. Successful expansion into more rural areas is only really possible with further infrastructural investment.
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