Caribbean Food and Drink Report Q3

Published : May 2012
No. of Pages : 136

Price:

In April 2012, the world's largest brewer, Anheuser-Busch InBev (ABI), announced that it had purchased a majority stake in Dominican Republic based Cerveceria Nacional Domicana – a move which gives it almost total control of the Dominican beer market. This dominance puts ABI in a strong position to increase its margins through pricing power, and also puts the firm in a position to increase its reach across the Caribbean. In the local market, consumption is already high (partly thanks to the strong tourism industry) but there is still considerable room for growth (see chart). As well as the underlying growth prospects, ABI's eagerness to control a relatively small market can be attributed partly to the almost total dominance that the deal will afford. One risk is that the Dominican Republic will one day enact tougher antitrust legislation that could force the business to be broken up. However, ABI looks set to use the business to grow throughout the Caribbean, and the resulting increase in foreign trade and the establishment of a true national champion in a country with a limited export sector may do much to quell any such problems.
Headline Industry Data 2011 food consumption per capita/forecast 2012 growth/forecast compound annual growth rate (CAGR) to 2016 (all in US dollar terms):
􀂃 Bahamas: US$1,831/+2.3%/2.4% 􀂃 Barbados: US$1,174/+2.8%/+3.0% 􀂃 Dominican Republic: US$249/+14.9%/+8.2% 􀂃 Jamaica: US$292/+3.7%/+6.3% 􀂃 Puerto Rico: US$954/+3.0%/+5.6% 􀂃 Trinidad and Tobago: US$1,111/4.3%/+5.0% Key Company Trends Wray & Nephew Gives New Look To Appleton Estate 21 – In March 2012, Jamaican rum manufacturer Wray & Nephew announced it has given a new look to its Appleton Estate 21 Year Old Jamaican rum brand. The firm, enhancing the packaging of the rum brand, will introduce the new look in all its markets during 2012. The 21-year-old rum brand will be sold in a decanter that has been designed on the platform of the Appleton Estate signature bottle, which has been used since the brand was introduced. Wray & Nephew launched the brand with the updated packaging in its domestic market in February. Labelling on the new packing will include phrases like 'estate distilled' and 'handcrafted since 1749'.
Fast Food Sector Growing In Caribbean – In January 2012, US-based restaurant chain owner CKE Restaurants announced an agreement with Bahamas-based group AML Foods to launch a chain of Carl's Jr restaurants in the Bahamas. CKE, whose yearly sales are US$3.4bn, is emphasising expansion internationally. 419 of its franchised eating outlets are in countries other than the US. CKE sees the Bahamas as a favourable market for fast food and AML as an experienced partner in the field. This came after McDonalds re-entered Trinidad & Tobago in October 2011 with the firm having left in 2003 due to a drop in sales.
Key Risks To Outlook Different Prospects for Individual Caribbean Markets – Given that the Caribbean is not a homogenous food and drinks markets, risks are on both upside and downside in relation to individual countries surveyed. For example, given that tourism continues to account for a significant proportion of economic activity in Jamaica, improved international perceptions of the island are likely to bode well for real GDP growth and thus also for consumer outlook. Furthermore, on the domestic front, this is likely to encourage greater investment into both hotel and transport infrastructure from the private sector. On the other hand, in Puerto Rico, one of the largest regional food and drinks markets, while huge structural reforms have dramatically improved the island’s fiscal outlook, growth is set to remain weak, especially as the authorities aim to rein in public sector spending.

BMI Industry View 7
SWOT Analysis 9
Caribbean Food Industry SWOT 9
Caribbean Drink Industry SWOT . 10
Caribbean Mass Grocery Retail Industry SWOT . 11
Business Environment .. 12
BMI’s Core Global Industry Views ... 12
Table: BMI’s Core Views . 23
Macroeconomic Forecasts ... 24
Barbados .. 24
Dominican Republic. 29
Table: Dominican Republic – Macroeconomic Data And Forecasts ... 32
Puerto Rico .. 33
Table: Puerto Rico – Macroeconomic Data And Forecasts . 36
Jamaica 37
Jamaica 37
Table: Jamaican Bauxite Output .. 39
Table: Jamaica – Macroeconomic Data And Forecasts .. 39
Trinidad And Tobago ... 40
Table: Trinidad & Tobago – Economic Activity .. 44
Industry Forecast Scenario .. 45
Regional Consumer Outlook . 45
Food .. 49
Table: Food Consumption In Selected Caribbean Markets .. 50
Table: Barbados Margarine 52
Table: Trinidad And Tobago Margarine .. 53
Table: Dominican Republic Oils And Fats... 54
Table: Trinidad And Tobago Oils And Fats . 55
Table: Dominican Republic Dairy ... 56
Table: Jamaica Meat ... 57
Alcoholic Drinks ... 58
Table: Barbados Beer Market, 2009-2016 ... 58
Table: Dominican Republic Beer Market, 2009-2016 .. 59
Table: Jamaica Beer Market, 2009-2016 . 59
Table: Trinidad And Tobago Beer Market, 2009-2016 60
Table: Cuba Beer Market, 2009-2016.. 61
Soft Drinks 62
Table: Barbados Carbonated Soft Drinks Market, 2009-2016 . 62
Table: Dominican Republic Carbonated Soft Drinks Market, 2009-2016 63
Table: Jamaica Carbonated Soft Drinks Market, 2009-2016 ... 64
Table: Cuba Carbonated Soft Drinks Market, 2009-2016 ... 65
Hot Drinks 68
Table: Cuba Coffee Market, 2009-2016 ... 68
Trade . 69
Table: Food & Drink Trade Balance – Historical Data & Forecasts (US$mn) ... 72
Mass Grocery Retail . 73
Table: Total Sales Via Grocery Retail Outlets In Selected Caribbean Markets* . 73
Bahamas .. 75
Industry Forecast Scenario .. 76
Barbados .. 77
Industry Forecast Scenario .. 78
Dominican Republic. 79
Industry Forecast Scenario .. 80
Jamaica 81
Industry Forecast Scenario .. 82
Puerto Rico .. 83
Industry Forecast Scenario .. 84
Trinidad And Tobago ... 84
Industry Forecast Scenario .. 85
Food 86
Regional Overview 86
Table: Caribbean Imports Of Agri-food Goods From The US, 2005-2009 (US$mn) ... 88
Key Industry Trends And Developments ... 89
Fast Food Sector Growing In Caribbean . 89
Wisynco To Benefit From Economic Growth And Rising Tourist Numbers . 89
JEA Predicts Loss Of Market Share Under New US Food Law ... 90
Foreign Investors Seeking Opportunities In The Sugar Industry . 90
Agricultural Diversification Under Way .. 92
Drink 93
Regional Overview 93
Key Industry Trends And Developments ... 94
ABI Set To Dominate Beer Market In The Dominican Republic .. 94
Wray & Nephew Gives New Look To Appleton Estate 21 96
Heineken Goes After Frontier Markets With Investment In Haiti 96
US Red Stripe Stripped Out Of Jamaica .. 98
CL Financial's Angostura Loses CEO As Lascelles Subject To Takeover Bid . 99
Club Caribe To Open Rum Distillery In Puerto Rico . 101
Jamaican Coffee Reaches China 101
Innovation And Collaboration Increasing In The Soft Drink Industry ... 101
Foreign Players Remain Interested In The Caribbean Alcoholic Drinks Market ... 102
New Strategies For Growth Of Alcoholic Drinks Sales… .. 103
…But Those That Cannot Compete, Leave . 104
Mass Grocery Retail 105
Regional Overview .. 105
Competitive Landscape .. 106
Table: Key Players In The Caribbean Food Market .. 106
Table: Key Players In The Caribbean Drinks Market 107
Table: Key Players In The Caribbean MGR Market .. 109
Company Profiles 110
Food 110
Seprod (Jamaica) ... 110
Canco Ltd (Jamaica).. 112
Jamaica Producers Group (Jamaica) 114
Jamaica Broilers Group (Jamaica) 116
Drink ... 118
Wisynco Group (Jamaica) . 118
D&G/Red Stripe (Jamaica) 120
Salada Foods (Jamaica) 122
Cervecería Nacional Dominicana (Dominican Republic) .. 124
Angostura (Trinidad and Tobago) . 126
Mass Grocery Retail ... 128
Wal-Mart (Puerto Rico) . 128
Supermercados Nacional (Dominican Republic) ... 130
BMI Food & Drink Methodology . 132
BMI Food & Drink Industry Glossary 132
BMI Food & Drink Forecasting And Sourcing ... 134
Sourcing .. 135Table: BMI's Core Views . 23

Table: Dominican Republic – Macroeconomic Data And Forecasts . 32

Table: Puerto Rico – Macroeconomic Data And Forecasts . 36

Table: Jamaican Bauxite Output . 39

Table: Jamaica – Macroeconomic Data And Forecasts . 39

Table: Trinidad & Tobago – Economic Activity . 44

Table: Food Consumption In Selected Caribbean Markets . 50

Table: Barbados Margarine . 52

Table: Trinidad And Tobago Margarine . 53

Table: Dominican Republic Oils And Fats. 54

Table: Trinidad And Tobago Oils And Fats . 55

Table: Dominican Republic Dairy . 56

Table: Jamaica Meat . 57

Table: Barbados Beer Market, 2009-2016 . 58

Table: Dominican Republic Beer Market, 2009-2016 . 59

Table: Jamaica Beer Market, 2009-2016 . 59

Table: Trinidad And Tobago Beer Market, 2009-2016 . 60

Table: Cuba Beer Market, 2009-2016. 61

Table: Barbados Carbonated Soft Drinks Market, 2009-2016 . 62

Table: Dominican Republic Carbonated Soft Drinks Market, 2009-2016 . 63

Table: Jamaica Carbonated Soft Drinks Market, 2009-2016 . 64

Table: Cuba Carbonated Soft Drinks Market, 2009-2016 . 65

Table: Cuba Coffee Market, 2009-2016 . 68

Table: Food & Drink Trade Balance – Historical Data & Forecasts (US$mn) . 72

Table: Total Sales Via Grocery Retail Outlets In Selected Caribbean Markets* . 73

Table: Caribbean Imports Of Agri-food Goods From The US, 2005-2009 (US$mn) . 88

Table: Key Players In The Caribbean Food Market . 106

Table: Key Players In The Caribbean Drinks Market . 107

Table: Key Players In The Caribbean MGR Market . 109

Caribbean Food and Drink Report Q3

Published By: Business Monitor International

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