The global forage feed market has been undergoing noteworthy development in the past few years. This can be accredited to the progression in farm animal production, upsurge in the global meat intake, and growing awareness regar…
BMI View: Increasing affluence, high female labour participation and an expanding mass grocery retail
sector will modernise consumption patterns which will provide strong growth impetus for the food and
drink industry. Premiumisation will become more pronounced over our forecast period on the back of a
positive tourism outlook. We hold a positive view for the food and drink industry in the North and Northeastern
regions of the country as we expect mass grocery retail expansion to pick over the period under
Key Trends & Industry Developments
? Food sales (local currency) growth y-o-y in 2016: +5.2%; compound annual growth rate (CAGR)
? Per capita food sales (local currency) growth y-o-y in 2016: +4.9%; CAGR 2015-2020: +7.2%.
Alcoholic drinks sales (litres) growth y-o-y in 2016 0.6%; compound annual growth rate (CAGR)
Non-alcoholic drinks sales (local currency) growth y-o-y in 2016 +4.7%; CAGR 2015-2020: +6.8%.