Boston, MA -- (ReleaseWire) -- 03/21/2014 -- We maintain a positive outlook for Germany's food and drink industry in 2014 as the tightening labour market bodes well for both job creation and real wage growth. Government policy should also prove supportive of stronger household expenditure, with flagship policies of the new coalition government including more generous pension provisions and the introduction of a national minimum wage. These developments are expected to spur private consumption and contribute to a strong rebound across food and drink industry in 2014.
Headline Industry Forecasts (local currency)
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- Total food consumption growth (y-o-y) in 2014: +4.7%; compound annual growth rate (CAGR) to 2018: +3.7%
- Food consumption per capita growth (y-o-y) in 2014: +4.8%; CAGR to 2018: +3.8%
- Total soft drinks sales growth (y-o-y) in 2014; +4.3% CAGR to 2018: 3.9%
- Alcoholic drinks sales growth (y-o-y) in 2014: +1.3%; CAGR to 2018: +0.7%
- Beer sales (local currency) growth (y-o-y) in 2014: -1.0%; CAGR to 2018: -1.2%
- Total mass grocery retail sales growth (y-o-y) in 2014: +9.0%; CAGR to 2018: +6.5%
Key Company Trends
Muhlenchemie Widens Range Of Pasta Services: In January 2014, Germany-based Muhlenchemie set up a pilot plant in Ahrens burg, Germany, in a move to offer additional services to pasta manufacturers. The company has opened its Ahrensburg laboratory to verify the possible effects of enzymes and other additives on noodle products before the start of commercial production of pasta. The new project will enable the company to provide recommendations and practical solutions to pasta manufacturers, according to Muhlenchemie's managing director Lennart Kutschinski.
Israel Chemicals Set To Buy Hagesud: In December 2013, Israel I Chemicals (ICL) announced that it has entered into a definitive agreement to acquire German spice blends and food ingredients firm Hagesud Group. As a result of the acquisition, the operating assets of the firm, including its existing business, all the production technology, and warehouse facilities located in Hemmigen, Dortmund and Ottensoos will merge into the Israel Chemicals. Hagesud's advance production facilities, capabilities in spice formulation and high level of customer service are expected to boost ICL's position in the global meat processing market.
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