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BMI View: Increased household spending and strong private consumption in
2016 will translate into opportunities for the food and drink industry, though headline spending levels
are still below what they were before the recession. Value will continue to be important, whereas the
market is not ready for the trend of premiumisation playing out in developed markets. A declining and ageing
population over our forecast period also limits the opportunities for food and drink companies
operating in the market.
Key Trends & Industry Developments
■ We forecast household spending to return to positive territory in 2016, though
this is off a low base following years of weakness. As such, value will remain a critical theme across
■ Discount food retail stores should continue to fare well in this
value-oriented environment, which bodes well for the entrance of Kam Market into the mass grocery retail sector during
■ Wine and spirits will post declines in consumption and sales in 2016, as
consumers turn to beer and tastes become more Westernised.
■ A proposed tax on 'junk food' and sugary drinks does not look set to be passed
in 2016, though may be
something to watch for over the next five years.