Report forecasts strong growth over next five years for Chile’s food and drink sector

Study places the country among the leaders in Latin America for mass grocery retail sales, per capita food consumption, alcoholic and soft drink sales.

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A five-year outlook for Chile’s food and drink industry places the country among the strongest performers in Latin America, according to an analysis by Business Monitor International (BMI).

The independent industry analysts -who are recognized for providing data used by multinational companies, financial institutions, multilaterals and government- have forecasted strong growth for the country in its Chile Food & Drink Report for the fourth quarter of 2010.

“Our forecasts for consumption in Chile over the next five years are among the strongest in Latin America and, in combination with the country’s market friendly economic policies, explain why Chile sits at the top of our Latin America Food & Drink Business Environment Ratings,” the executive summary of the report says. “All of our top-line food and drink indicators are expected to advance strongly over the next five years, perhaps only limited by signs of maturity in some sectors.”

The report predicts per capita food consumption to increase 8 percent in 2010 and 19 percent by 2014. Alcoholic drink sales are expected to increase 6 percent next year and 14 percent in 2014.

Soft drink sales are to increase 9 percent in 2011 and 22 percent in 2014. Lastly, mass grocery retail sales are forecast to increase by five percent in 2011 and by 11 percent by 2014.

The report is another indicator of continued strong growth in Chile. The country has seen five consecutive months with growth of more than 5 percent and the International Monetary Fund has raised its growth projections for Chile’s economy to 5 percent from the 4.7 percent forecasted in April. The IMF maintained their prediction of 6 percent growth in 2011.

This post is also available in Spanish