New Food research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Sun Sep 06 2015] The Australian economy continued to slow in Q115, and we maintain our 2015 real GDP growth forecast of 2.3% (versus 2.7% in 2014). The country's worsening terms of trade and unwinding investment boom continue to act as major headwinds to growth. Back in 2011, global food manufacturer Heinz (before it was bought by 3G Capital and subsequently merged with Kraft Foods in 2015) publically criticised the structure of the retail market and said it was a very difficult environment for suppliers. Although spending levels are high on a per capita basis, the relatively small size of the consumer market (population of 23mn) and the structure of the retail market will continue to temper Australia's appeal for global manufacturers.
Full Report Details at
Headline Industry Data (local currency)
2015 per capita food consumption = +0.7%; forecast 2014 to 2019 = +1.3% compound annual growth rate (CAGR).
2015 soft drinks sales = +2.3%; forecast 2014 to 2019 = +2.6% CAGR.
2015 alcoholic drinks sales = +2.0%; forecast 2014 to 2019 = +2.4% CAGR.
2015 mass grocery retail sales = +3.3%; forecast 2014 to 2019 = +4.1%.
Key Industry Trends And Developments
Government to Enforce Food Origin Labelling: It was announced in mid-2015 that the Australian government is set to implement a new country of origin food labelling system from 2016. Under the new rule, domestically processed foods will carry a label displaying a green and gold kangaroo and triangle icon, with a bar chart revealing the number of Australian ingredients used in the product. Imported products will be re-packaged with a country of origin label. Food firms are also being encouraged to include additional information on their labels. The new scheme is expected to cost businesses AUD37mn (USD27.4mn) a year, while consumers could also need to shell out AUD0.01 more for every AUD5 (USD3.71) they spend, reports FBR.
The Australia Food & Drink Report features BMI Research's market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.
BMI's Australia Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Australia.
* Benchmark BMI's independent food and drink industry forecasts for Australia
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
You may also be interested in these related reports:
- Czech Republic Food & Drink Report Q4 2015
- Bulgaria Food & Drink Report Q4 2015
- Colombia Food & Drink Report Q4 2015
- Canada Food & Drink Report Q3 2015
- Slovenia Food & Drink Report Q4 2015