Bahrain Food and Drink Report Q4 2008
Business Monitor International, October 2008, Pages: 56
The Bahrain Food Drink Report provides independent forecasts and competitive intelligence on Bahrain's food and drink industry.
Following a period of relative quiet, Bahrain’s mass grocery retail (MGR) sector is set to experience a wave of activity, with two major retailers announcing expansion plans, as discussed in BMI’s recently published Bahrain Food & Drink Report for Q4. The first is international major Auchan, which announced in July that it has signed a joint venture agreement with Dubai real estate developer Nakheel to develop a retail chain in the Gulf region. The new company, called HyperCorp, will establish a chain of 15 hypermarkets and 40 supermarkets across the GCC over the next 10 years, with the first round of openings consisting of five hypermarkets in Nakheel's Dubai developments. The other is Abu-Dhabi based food and retail group Emke, which announced in July plans to invest BHD50mn (US$132mn) on two local projects in Bahrain, creating more than 2,000 jobs in the country. The group opened its first hypermarket in Bahrain in September 2007 in the Dana Mall in Manama. The company has now said that it will open another Lulu outlet in August of this year, and also plans to open a shopping mall in A'ali by the end of 2010.
Unlike other Gulf states, until 2005 Bahrain had only one hypermarket, jointly run by local company Fu- Com International and Casino Groupe of France. Fu-Com is itself a joint venture between Bahrainbased Retail Arabia and the Dubai-based Al Ghurair Group. However, in 2005 a group of Saudi Arabian investors, A K Al Muhaidib and Sons Group, introduced their giant hypermarket concept to the country, with the opening of a new store. French retail giant Carrefour has also decided to enter the country and has set the second half of 2008 as its target market entry date.
Such investments are the main driver behind the growth rate of 42.3% we are currently forecasting in Bahrain's hypermarket sector between 2007 and 2012. The hypermarket format will contribute most in sales terms to the sector's overall growth, due to the vast selling power of just one store. Overall MGR sales are set to increase by almost 53% over the forecast period to 2012.
Economic expansion will be the other main driver, as we are forecasting real GDP growth of 5.2% in 2008 and averaging 4.3% over the remainder of the forecast period. With oil output expected to remain constant until 2010 before declining slightly, real economic expansion will be driven entirely by the nonoil sector (although oil revenues will feed through in terms of higher liquidity and increased government spending). We highlight the financial services sector as a key driver of non-oil growth, as Bahrain takes advantage of the growing demand for Islamic banking products. However, food price inflation does remain a significant concern. While the consumer price index (CPI) reached 6.2% year on year (y-o-y) in April, we suspect that price rises in the food and housing sectors were far higher than this headline figure.
Executive Summary
- Business Environment
- Regional Food & Drink Business Environment Ratings
- Table: Regional Food & Drink Business Environment Ratings
- Bahrain’s Food & Drink Business Environment Rating
- SWOT Analysis
Food And Drink
- Bahrain Food And Drink Industry SWOT
- Mass Grocery Retail
- Bahrain Mass Grocery Retail Industry SWOT
- Macroeconomic Outlook
- Table: Bahrain – Economic Activity
Food
- Industry Forecast Scenario
- Food Consumption
- Table: Food Consumption Indicators – Historical Data & Forecasts
Trade
- Table: Bahrain Sectoral Trade Balance – Historical Data & Forecasts
- Industry Developments
- Market Overview
Agriculture
- Key Food Processors
Drink
- Industry Forecast Scenario
- Soft Drinks
- Hot Drinks
- Industry Developments
- Market Overview
- Soft Drinks
- Alcoholic Drinks
- Hot Drinks
- Agriculture At A Glance
- Table: Bahrain – Major Agricultural Production, 2005
- Table: Bahrain Rural/Urban Population Breakdown
- Agricultural Commodity Price
Retail
- Industry Forecast Scenario
- Table: Bahrain Mass Grocery Retail Sales – Value By Format (US$bn) – Historical Data & Forecasts
- Grocery Retail Sales By Format – Historical Data & Forecasts
- Industry Developments
- Market Overview
- Table: Structure Of Bahrain's Mass Grocery Retail Market By Number Of Outlets
- Structure Of Bahrain's Mass Grocery Retail Market – Sales Value By Retail Format (US$bn)
- Value Of Sales Per Outlet 2006 – Estimates (US$mn)
Competitive Landscape
- Key Players
- Food And Drink
- Table: Key Players in Bahrain's Food & Drink Sector
- Mass Grocery Retail
- Table: Key Players in Bahrain's Mass Grocery Retail Sect
- Company Analysis
- Food
- Bahrain Flour Mills Company (BFMC)
- General Trading And Food Processing Company (TRAF )
- Drink
- Awal Dairy Company
- Masafi
- Mass Grocery Retail
- EMKE Group – LuLu Hypermarket
- Fu-Com International/Géant
- Carrefour MAF – Bahrain
- Deep US Recession Scenario
- Global Scenario
- Table: World GDP Growth
- Table: US GDP Growth, Investment Growth And Private Consumption Growth
- Table: Eurozone GDP Growth
- Table: Asia, Excluding Japan, GDP Growth
- Table: China GDP Growth
- Table: Mexico GDP Growth
- Table: Africa GDP Growth
- Middle East Food & Drink Scenario
- Table: Impact of Deep US Recession On Total Food Consumption (US$bn) In Selected Middle Eastern Markets - Cumulative US$ Impact Over 5-yr Forecast Period
- Appendix
- Food & Drink Business Environment Ratings
- Ratings Methodology
- Ratings Overview
- Ratings System
- Indicators
- Limits Of Potential Returns
- Risks To Realisation Of Potential Returns
- Weighting
- Weighting
- BMI Food & Drink Industry Glossary
- Food & Drink
- Mass Grocery Retail
- BMI Food & Drink Forecasting & Sourcing
- How We Generate Our Industry Forecasts
- Sourcing
- Bahrain Flour Mills Company (BFMC)
- General Trading And Food Processing Company (TRAF )
- Awal Dairy Company
- Masafi
- EMKE Group – LuLu Hypermarket
- Fu-Com International/Géant
- Carrefour MAF – Bahrain
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