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Spain Food and Drink Report Q1 2011
Business Monitor International, Nov 2010, Pages: 72
Spain 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 Spain's food and drink industry.
Spain's economic problems have not spared the food and drink sector, with sales growth in the industry stuck in negative territory throughout the first half of 2010. BMI anticipates little prospect of growth in the medium term, with high unemployment, falling wages and rising taxes placing further downward pressure on consumption. However, we see greater room for growth beyond 2011, with the immaturity of the food and drink sector meaning it provides greater long-term potential than several others in the Western Europe region.
Headline Industry Data
- 2011 per-capita food consumption = +0.9%; forecast to 2015 = +11.9%
- 2011 alcoholic drink sales = +0.3%; forecast to 2015 = 2.1%
- 2011 soft drink sales = +2.3% ; forecast to 2015 = +16.6%
- 2011 mass grocery retail sales = +2.3%; forecast to 2015 = +16.5%
Key Company Trends & Developments
SOS Restructures to Tackle Debt – The world’s largest olive oil producer SOS has laid out plans to restructure its capital base as it seeks to tackle its sizeable debts. As part of the plans the firm hopes to raise EUR200mn by issuing new shares. Around EUR120mn of the money raised will be used to repay debt, while EUR80mn is to be used to develop the business. The firm has also said it wants to convert a large proportion of its current debt into shares. There are also unconfirmed reports that Portuguese olive oil manufacturer Sovena is looking to invest in the SOS business and become a key shareholder. SOS said the two sides had been in talks to ‘explore possible avenues of collaboration or integration’. Coca-Cola Adds to Product Range – Drinks giant Coca-Cola has been expanding its product range in Spain over the last year, working to introduce low-sugar and caffeine-free products to cater to increasingly health-conscious Spanish consumers. During 2009, 22% of the group’s sales on the Spanish market were accounted for by low sugar/low calorie lines. After the successful launch of Coke Zero, Coca-Cola has also launched caffeine-free Coke Zero to be sold in both Spanish retail and foodservice outlets. The company has also launched the new lighter version of its Aquarius mineral sports drink on the Spanish market during 2010.
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