Business Monitor International


Caribbean Food & Drink Report

Published 23 April 2014

  • 149 pages
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$1,295.00
Caribbean Food & Drink Report

Though signs of growth are beginning to return to the Caribbean, economies within the region continue to feel the spillover effects of the 2009 financial crisis, which strongly shook the region's key industries of tourism and finance. With this in mind, we forecast relatively slow food consumption growth in a majority of the Caribbean markets. Despite these difficulties, some markets, most notably Jamaica and Dominican Republic, are expected to outperform over the forecast period.

Headline Industry Data

Forecast 2014 food consumption growth (local currency):

  • Bahamas: +1.3%

  • Barbados: +1.4%

  • Dominican Republic: +4.9%

  • Jamaica: +6.6%

  • Puerto Rico: +3.5%

  • Trinidad & Tobago: +2.7%

Forecast food consumption compound annual growth rate (CAGR) 2013 to 2018 (local currency):

  • Bahamas: +1.8%

  • Barbados: +2.5%

  • Dominican Republic: +6.1%

  • Jamaica: +6.3%

  • Puerto Rico: +4.0%

  • Trinidad & Tobago: +2.8%

Key Company Trends

UNIVEG Acquires Stichting Behoud Bananen Sector : Belgium-based supplier of fresh produce Univeg completed the takeover of Suriname-based banana exporter Stichting Behoud Bananen Sector (SBBS) in January 2014, completing the privatisation process of SBBS. Under the terms of the deal, UNIVEG will own a 90% stake in SBBS, while Suriname's agriculture ministry will hold the remaining 10%. SBBS will start operating under the name of Food and Agriculture Industries (FAI). The privatisation process took place under an International Tender Rule process where the EU acted as an observer. The acquisition is in line with UNIVEG's ongoing strategy to secure long-term sourcing requirements to optimally service its retail customers, according to Univeg's CEO Francis Kint.

Destileria Serralles To Raise Production Capacity : Puerto Rico-based Destileria Serralles unveiled plans in April 2014 to increase its rum production capacity over the next few years. As part of its expansion plan, the firm will add around 8mn gallons to its existing capacity. The...

Table of Contents

BMI Industry View
7
SWOT
9
Food
9
Drink
11
Mass Grocery Retail
13
Industry Forecast
15
Consumer Outlook
15
Food
18
Food Consumption
18
Table: Caribbean Food Consumption - Historical Data & Forecasts, 2011-2018
19
Meat
21
Table: Jamaica- Bacon, Ham & Sausage, 2011- 2018
21
Oils & Fats
22
Table: Barbados - Margarine, 2011-2018
22
Table: Dominican Republic - Crude Soya-Bean Oil, 2011-2018
22
Table: Trinidad & Tobago - Crude Soya-Bean Oil, 2011-2018
24
Dairy
24
Table: Dominican Republic - Dairy, 2011-2018
24
Drink
25
Alcoholic Drinks
25
Table: Barbados - Beer - Historical Data & Forecasts, 2011-2018
26
Table: Dominican Republic - Beer - Historical Data & Forecasts, 2011-2018
26
Table: Jamaica - Beer - Historical Data & Forecasts, 2011-2018
27
Table: Trinidad & Tobago - Beer - Historical Data & Forecasts, 2011-2018
27
Soft Drinks
28
Table: Barbados - Carbonated Soft Drinks - Historical Data & Forecasts, 2011-2018
28
Table: Dominican Republic - Carbonated Soft Drinks - Historical Data & Forecasts, 2011-2018
29
Table: Jamaica - Carbonated Soft Drinks - Historical Data & Forecasts, 2011-2018
30
Mass Grocery Retail
31
Bahamas
31
Barbados
32
Dominican Republic
33
Jamaica
34
Puerto Rico
35
Trinidad & Tobago
36
Table: Caribbean - Total Sales Via Grocery Retail Outlets, 2011-2018
36
Trade
39
Table: Caribbean Food & Drink Trade Balance - Historical Data & Forecasts, 2011-2018 (US$mn)
39
Macroeconomic Forecasts
40
Barbados
40
Table: Barbados - Economic Activity
44
Trinidad & Tobago
45
Table: Trinidad & Tobago - Macroeconomic Data And Forecasts
47
Dominican Republic
48
Table: Dominican Republic - Real GDP Growth By Selected Sectors, % chg y-o-y (YTD)
50
Table: Dominican Republic - Gdp By Expenditure, Real Growth %
51
Jamaica
51
Table: Jamaica - Current Account
53
Puerto Rico
54
Table: Puerto Rico - Gdp By Expenditure, Real Growth %
59
Industry Risk Reward Ratings
60
Latin America Risk/Reward Ratings
60
Table: Latin America Food & Drink Risk/Reward Ratings Q214
61
Table: Latin America Food & Drink Risk/Reward Sub-Factor Ratings Q214 (scores out of 10)
63
Market Overview
65
Food
65
Drink
67
Mass Grocery Retail
69
Industry Trends And Developments
70
Food
70
Drink
73
Competitive Landscape
81
Table: Key Players In The Caribbean Food Market
81
Table: Key Players In The Caribbean Drinks Market
82
Table: Key Players In The Caribbean Mass Grocery Retail Market
83
Company Profile
85
Seprod (Jamaica)
85
Canco Ltd (Jamaica)
87
Jamaica Producers Group (Jamaica)
89
Jamaica Broilers Group (Jamaica)
91
Wisynico Group (Jamaica)
94
D&G/Red Stripe (Jamaica)
96
Salada Foods (Jamaica)
98
Cervecer-a Nacional Dominicana (Dominican Republic)
100
Angostura (Trinidad & Tobago)
102
Walmart (Puerto Rico)
105
Supermercados Nacional (Dominican Republic)
107
Global Industry Overview
109
Table: Food And Drink Core Views
118
Demographic Forecast
119
Bahamas
119
Table: Bahamas' Population By Age Group, 1990-2020 ('000)
120
Table: Bahamas' Population By Age Group, 1990-2020 (% of total)
121
Table: Bahamas' Key Population Ratios, 1990-2020
122
Table: Bahamas' Rural And Urban Population, 1990-2020
122
Barbados
123
Table: Barbados' Population By Age Group, 1990-2020 ('000)
124
Table: Barbados' Population By Age Group, 1990-2020 (% of total)
125
Table: Barbados' Key Population Ratios, 1990-2020
126
Table: Barbados' Rural And Urban Population, 1990-2020
126
Dominican Republic
127
Table: The Dominican Republic's Population By Age Group, 1990-2020 ('000)
128
Table: The Dominican Republic's Population By Age Group, 1990-2020 (% of total)
129
Table: The Dominican Republic's Key Population Ratios, 1990-2020
130
Table: The Dominican Republic's Rural And Urban Population, 1990-2020
130
Jamaica
131
Table: Jamaica's Population By Age Group, 1990-2020 ('000)
132
Table: Jamaica's Population By Age Group, 1990-2020 (% of total)
133
Table: Jamaica's Key Population Ratios, 1990-2020
134
Table: Jamaica's Rural And Urban Population, 1990-2020
134
Puerto Rico
135
Table: Puerto Rico's Population By Age Group, 1990-2020 ('000)
136
Table: Puerto Rico's Population By Age Group, 1990-2020 (% of total)
137
Table: Puerto Rico's Key Population Ratios, 1990-2020
138
Table: Puerto Rico's Rural And Urban Population, 1990-2020
138
Trinidad & Tobago
139
Table: Trinidad & Tobago's Population By Age Group, 1990-2020 ('000)
140
Table: Trinidad & Tobago's Population By Age Group, 1990-2020 (% of total)
141
Table: Trinidad & Tobago's Key Population Ratios, 1990-2020
142
Table: Trinidad & Tobago's Rural And Urban Population, 1990-2020
142
Glossary
143
Food & Drink
143
Mass Grocery Retail
143
Methodology
145
Industry Forecast Methodology
145
Sector-Specific Methodology
146
Sources
146
Risk/Reward Rating Methodology
147
Table: Food & Drink Risk/Reward Rating Indicators
148
Table: Weighting
149

The Caribbean Food & Drink Report features Business Monitor International (BMI)'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 Caribbean 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 Barbados, Bahamas, Jamaica, Trinidad & Tobago, Dominican Republic, Puerto Rico.

Key Benefits

  • Benchmark BMI's independent food and drink industry forecasts for Barbados, Bahamas, Jamaica, Trinidad & Tobago, Dominican Republic, Puerto Rico to test other views - a key input for successful budgeting and strategic business planning in the Barbadian, Bahamian, Jamaican, Trinidadian, Dominican, Puerto Rican food and drink market.
  • Target business opportunities and risks in Barbados, Bahamas, Jamaica, Trinidad & Tobago, Dominican Republic, Puerto Rico through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.

Business Environment Ratings

BMI's Food & Drink Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors, food and drink manufacturers and mass grocery retailers.

The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.

Food Forecasts

BMI's food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market's food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:

Industry Forecast Scenario - Historical data series and forecasts to end-2018 for growth of key indicators within a market's food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.

Industry Developments - A summary of corporate developments, including news on M&As, FDI, expansions, closures and financial results, in addition to analysis and explanation of the latest industry events and how these could influence further investment.

Market Overview - An overview of the structure of the market, introducing the key players and discussing underlying trends.

Drink Forecasts

Segmented the same way as BMI's food chapter, the drink section provides insight into the market's drink industry, centred on a forecast to end-2018 for the sector. Forecast indicators include alcoholic and soft drink sales by value, volume and sub-sector and tea and coffee sales, among others.

Mass Grocery Retail Forecasts

Segmented the same way as BMI's food and drink chapters, the mass grocery retail section provides insight into a market's grocery retail industry, centred on a forecast to end-201 for the sector. Forecast indicators include mass grocery retail sales by format (including supermarkets, hypermarkets, convenience and discount stores) and a breakdown for the organised retail sector versus the traditional sector, among others.

Competitive Landscape & Profiles

Illustration of the industry via rankings tables comparing revenues, number of outlets and number of employees. BMI analyses each company's market position, business strategies and investment potential.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc