New Market Research Report: Caribbean Food & Drink Report Q1 2013

New Food market report from Business Monitor International: "Caribbean Food & Drink Report Q1 2013"

by Bill Thompson

(WireNews+Co) - Boston, MA - 07 January 2013

Food consumption is expected to experience steady but unspectacular growth over our forecast period in all of the Caribbean markets covered in this report. While food consumption experienced a slowdown in between 2009 and 2011 due to the economic downturn, which led to a reduction in purchasing power and a drop in tourist numbers, consumption figures are expected to bounce back moving forward. Food consumption value growth - albeit relatively marginal in the short term at least - will be driven by increased affluence accompanied by a growing predilection for processed foods, which typically carry a higher value than basic traditional foods. On the export front things are more promising, particularly in the spirits sector, with Campari's acquisition of Jamaican rum producer Lascelles DeMercado demonstrating the continued appeal of Caribbean brands to global players.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/511236_caribbean_food_drink_report_q1_2013.aspx) (http://www.fastmr.com/prod/511236_caribbean_food_drink_report_q1_2013.aspx)

Headline Industry Data (US$)

2012 food consumption per capita:

- Bahamas: US$1,799
- Barbados: US$1,216
- Dominican Republic: US$236
- Jamaica: US$306
- Puerto Rico: US$981
- Trinidad & Tobago: US$903

Forecast 2013 food consumption per capita growth:

- Bahamas: +0.8%
- Barbados: +4.3%
- Dominican Republic: +2.5%
- Jamaica: +3.8%
- Puerto Rico: +2.6%
- Trinidad & Tobago: 1.4%

Forecast food consumption per capita compound annual growth rate (CAGR) 2012 to 2017:

- Bahamas: 1.0%
- Barbados: +3.3%
- Dominican Republic: +2.6%
- Jamaica: +4.6%
- Puerto Rico: +3.5%
- Trinidad & Tobago: +3.0%

Key Company Trends

Campari Acquires Caribbean Rum Producer: In September 2012, Italian spirits group Campari announced the acquisition of Jamaican rum producer Lascelles DeMercado in a deal worth up to US$415mn. Campari will pay US$338mn to acquire the 81% stake owned by CL Financial and will make a public tender offer for the remaining shares. The deal gives the firm exposure to the buoyant rum category and affords the firm two of the strongest rum brands in the Caribbean: Appleton and Wray & Nephew. The move continues Campari's strategy of buying neglected brands that it can bolster with its strong distribution system and marketing expertise.

Caribbean Rum-Makers Say Trade Standards Favour US: In September 2012, rum-producing states in the Caribbean will have to adhere to international trade and marketing standards. Nations including Jamaica and Antigua claim that the system is rigged in favour of the US due to the level of subsidies, which threatens to push Caribbean brands out of business. Distillers have reportedly lodged a complaint with the World Trade Organization.

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