Indian Consumers to Spend More on FBT, Says RNCOS
Monday, May 12, 2008
Changing consumption pattern and lifestyle is expected to drive the consumer expenditure on food, beverages & tobacco in India at a CAGR of 12% through 2011, says the RNCOS report.
Consumer expenditure on food, beverages and tobacco (FBT) in India is expected to grow at a CAGR of 12% during 2007-2011, forecasts "Indian Food Beverages and Tobacco Market Forecast till 2011", a research report by RNCOS.
The report identifies that food expenditure in India will grow at the rate second fastest after China during the forecasted period. The fast growth in the consumer spending is led by advertisement spending, campaigns to market products and brands, free sample distributions, launch of innovative and new brands, and strengthening of the product distribution networks. All these factors have brought a wave of change in the consumption habits of people in the last six years, evident from changing preference of the urban Indians, who don't like to spend hours in kitchen cooking food, and instead resort to convenience food.
In addition, the RNCOS report reveals that changing lifestyle on account of increasing disposable income of Indians is significantly affecting the consumption patterns. In the last five years (from 2001 to 2006), per head disposable income of Indians surged at a CAGR of 10.2%. Apart from this, increasing presence of women in working population and rising number of nuclear families with double income are leading to change in lifestyle. Also, these factors are resulting in increased overall disposable income of the Indian consumers, which, in turn, is increasing their spending on branded food items. Consequently, says the report, the branded food market is witnessing strong growth of 10% to 15% in the country.
The report also highlights that with accruing disposable incomes, consumers will prefer to opt for buying from organized retail channels rather than local markets.
In addition, "Indian Food, Beverages and Tobacco Market Forecast till 2011" gives detailed analysis on changing consumption patterns in various sub-sections in food segments like milk, fruits, vegetables, meat etc. The report also includes in-depth study of the Indian beverage market, containing information about different varieties in beverages, and their sales and consumption patterns among the Indian populace. The RNCOS research includes comprehensive information on the market trends in the Indian tobacco market.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM578.htm
Current Industry News: http://www.rncos.com/blog
The report identifies that food expenditure in India will grow at the rate second fastest after China during the forecasted period. The fast growth in the consumer spending is led by advertisement spending, campaigns to market products and brands, free sample distributions, launch of innovative and new brands, and strengthening of the product distribution networks. All these factors have brought a wave of change in the consumption habits of people in the last six years, evident from changing preference of the urban Indians, who don't like to spend hours in kitchen cooking food, and instead resort to convenience food.
In addition, the RNCOS report reveals that changing lifestyle on account of increasing disposable income of Indians is significantly affecting the consumption patterns. In the last five years (from 2001 to 2006), per head disposable income of Indians surged at a CAGR of 10.2%. Apart from this, increasing presence of women in working population and rising number of nuclear families with double income are leading to change in lifestyle. Also, these factors are resulting in increased overall disposable income of the Indian consumers, which, in turn, is increasing their spending on branded food items. Consequently, says the report, the branded food market is witnessing strong growth of 10% to 15% in the country.
The report also highlights that with accruing disposable incomes, consumers will prefer to opt for buying from organized retail channels rather than local markets.
In addition, "Indian Food, Beverages and Tobacco Market Forecast till 2011" gives detailed analysis on changing consumption patterns in various sub-sections in food segments like milk, fruits, vegetables, meat etc. The report also includes in-depth study of the Indian beverage market, containing information about different varieties in beverages, and their sales and consumption patterns among the Indian populace. The RNCOS research includes comprehensive information on the market trends in the Indian tobacco market.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM578.htm
Current Industry News: http://www.rncos.com/blog
posted by RNCOS @ 4:05 PM,
RNCOS Predicts 7.7% CAGR Growth by 2011 in Indonesian Food Expenditure
Friday, May 09, 2008
The consumer expenditure on food, beverages and tobacco market in Indonesia is anticipated to grow at a CAGR of 7.7% by 2011 due to opening of retail food outlets and changing consumption patterns.
According to a market research report, "Indonesian Food, Beverages and Tobacco Market Forecast till 2011", released by RNCOS, consumers spending on food, beverages and tobacco grew at a CAGR of around 12% during 2003-2006 and is expected to post a CAGR growth of 7.7% during 2007-2011.
The market report says that population of a country defines its food demand, and growing population of Indonesia, which is standing at the fourth place in population growth, is making the country’s food, beverages and tobacco industry dynamic.
With the modernization of retail sector and introduction of fast food outlets, identifies the RNCOS report, food habits and consumption patterns of Indonesians have undergone a radical change. Indonesia has witnessed opening of new modern food retail outlets along with a wide range of retail stores such as hypermarkets, supermarkets, warehouse clubs, convenience stores and mini markets, with entrance of foreign retail companies, says the report. These stores are opened in major cities across the country and are catering to the needs of the middle class and youth, creating demand for fresh and value-added products in the country.
Besides, surging disposable income and increasing imported foods are also bringing a transformation in the food consumption patterns of Indonesians, as per the report. So people are now more inclined towards western-style products and processed foods, comprising beef, noodles, bakery products, confectionery and soft drinks, thereby raising their consumption. However, the country’s staple foods, rice, chicken, vegetables, cooking oil and tea, continue to remain an integral part of the Indonesian diet.
However, the report also highlights that Indonesian consumers are very price sensitive and susceptible to economic fluctuations, with purchasing power of those in the middle and lower income influenced the most.
Apart from drivers, "Indonesian Food, Beverages and Tobacco Market Forecast till 2011", also provides detailed analysis on the industry. It thoroughly evaluates the consumptions patterns in all the major segments such as vegetables, fruits, milk, meat etc. The report also includes extensive information on the Indonesian beverage market, giving details about types of beverages and their market performance. In addition, the report also provides brief analysis of the Indonesian tobacco market.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM584.htm
Current Industry News: http://www.rncos.com/blog
posted by RNCOS @ 5:37 PM,
US Soft Drink Industry Declined 2.3% in 2007
Tuesday, May 06, 2008
The US soft drink sales fell last year by 2.3% owing to price rise and changing behavior of consumers who give preference to a particular drink on a particular occasion.According to Beverage Digest, a US beverage industry publication, there was a steep decline in the sales of soft drinks in the US last year because consumers chose other alternatives such as bottled water and teas, as reported by Reuters.
Beverage Digest revealed that the total sales of carbonated soft drinks plunged by 2.3% to 9.92 Billion cases last year whereas 0.6% and 0.2% decline was recorded in 2006 and 2005 respectively. In 1990, the industry grew 3% but during the period of 2005-2007, the industry fell sharply.
Although both fruit beverage and carbonated drinks volume plunged in 2007, many non-carbonated beverages witnessed strong growth. Refreshment beverage category contains a wide range of varieties, ranging from vigorous energy drinks to unimpressive fruit beverages to carbonated soft drinks.
As per the industry experts, continuous price rise of soft drinks in last few years is mainly responsible for the lack of demand of carbonated soft drinks as compared to non-carbonated beverages.
Another reason for decline in sales of carbonated soft drinks is that people are opting for healthier drinks. There is a change in the perception of people with regard to varieties of beverages. They need a specific beverage as per the requirement of the time; for instance, people prefer energy drinks during working hours/reinvigoration after a work out.
Moreover, owing to fall in the sales of carbonated soft drink, some beverage manufacturers, who were previously depended upon carbonated soft drink sales, are now turning to water and sports drinks because people are increasingly favoring healthier drinks over carbonated drinks.
Beverage Digest also forecasted considerable growth in the enhanced and functional beverages over traditional refreshment beverages and the high growth trend will continue in future as well.
According to a research analyst at RNCOS, "The sales of US soft drink makers have declined substantially because of changing drinking habits of people and escalating prices. In fact, in last few years, consumers hardly consider about carbonated drinks or non-carbonated drinks because they believe that there is a specific drink for a specific time and occasion. They become very selective in their choice. Therefore, soft drink manufacturers should come up with new marketing strategies that suite the changing behavior of consumers."
posted by RNCOS @ 9:53 AM,
UN Considering to Rationing Food Aid
Monday, April 07, 2008
The UN will review its rationing system in view of escalating food prices in the international market to help poor people in developing and under-developing countries.
posted by RNCOS @ 1:08 PM,
RNCOS Predicts Spirit Sales to Top the Chart in China
Thursday, March 20, 2008
According to the latest report by RNCOS on Chinese Food, Beverages, and Tobacco market, the sales of spirits is predicted to shoot up by the year 2011 in the country.
According to the latest report by RNCOS, "Chinese Food, Beverages and Tobacco Market Forecast till 2011", spirits market represented 43.5% of total alcoholic beverages sales in China in 2006. This substantial share has made spirits number one alcoholic drink in the country.
The report prepared after thorough and rational analysis of the Chinese spirit market tries to look for the reasons for high consumption rate of spirits in the country. The analysis concluded that spirits market will grow from 13% to 14% every year, and by the end of 2011, the sales will touch nearly US$ 50 Billion.
The report further highlights the growing interest of foreign players to enter the Chinese spirits market because of its increasing demand within the country. It reveals better opportunities for foreign players in the Chinese spirits market and talks about the measures foreign players can resort to for commercialization of their products in China's domestic market. Apart from that, it also examines steps taken by the Chinese government to support the foreign players' move and reveals the benefits provided to the players on entering the Chinese market. It analyzes Chinese spirits market's current retail formats and also reveals the trend that dominates the market.
The report identifies another emerging segment of the market - food emulsifiers. Due to rise in disposable income, Chinese have changed their lifestyle and food habits. They are now more inclined to eat nutritious or low fat food. Apart from that, the research reveals other aspects that have forced Chinese to live on healthy diet. After evaluating the trends, it predicts that in future, food emulsifier market of China will increase at a CAGR of around 15%.
"Chinese Food, Beverages and Tobacco Market Forecast till 2011" highlights the food consumption pattern of Chinese in diverse food segments, like meat, vegetables, milk and fruit. The beverage segment talks about various kinds of beverages, their consumption patterns, and sales. The report also briefs about the Chinese tobacco industry and its market segment.
The report prepared after thorough and rational analysis of the Chinese spirit market tries to look for the reasons for high consumption rate of spirits in the country. The analysis concluded that spirits market will grow from 13% to 14% every year, and by the end of 2011, the sales will touch nearly US$ 50 Billion.
The report further highlights the growing interest of foreign players to enter the Chinese spirits market because of its increasing demand within the country. It reveals better opportunities for foreign players in the Chinese spirits market and talks about the measures foreign players can resort to for commercialization of their products in China's domestic market. Apart from that, it also examines steps taken by the Chinese government to support the foreign players' move and reveals the benefits provided to the players on entering the Chinese market. It analyzes Chinese spirits market's current retail formats and also reveals the trend that dominates the market.
The report identifies another emerging segment of the market - food emulsifiers. Due to rise in disposable income, Chinese have changed their lifestyle and food habits. They are now more inclined to eat nutritious or low fat food. Apart from that, the research reveals other aspects that have forced Chinese to live on healthy diet. After evaluating the trends, it predicts that in future, food emulsifier market of China will increase at a CAGR of around 15%.
"Chinese Food, Beverages and Tobacco Market Forecast till 2011" highlights the food consumption pattern of Chinese in diverse food segments, like meat, vegetables, milk and fruit. The beverage segment talks about various kinds of beverages, their consumption patterns, and sales. The report also briefs about the Chinese tobacco industry and its market segment.
posted by RNCOS @ 6:19 PM,
South Koreans Guzzling Beverages, Leading to Robust Growth
Tuesday, March 18, 2008
RNCOS' market analysis provides a panoptic view of the development and growth of South Korean beverages market and the factors responsible for its robust growth.The market research pioneer RNCOS has issued an analytical report on the South Korean Food, Beverage and Tobacco sector, "South Korean Food, Beverages and Tobacco Market Forecast till 2011". According to the report, the South Korean beverages market developed at a fast pace over the past decade. The report has conducted a comprehensive study of the South Korean beverages market and detected the factors responsible for the terrific growth in this sector.
The report has studied different segments of the South Korean beverages industry, such as coffee, tea, alcoholic drink and soft drinks and gives an in-depth analysis of the consumption patterns of every segment. As per the segment-wise consumption pattern, South Korea is one of the major consumers of alcoholic drinks worldwide. The report has conducted an extensive research on this market and find out factors responsible for making the nation a major user of alcoholic drinks. It has identified the product which is dominating the alcoholic beverages segment and also identified the key players operating in the market.
RNCOS expects that the use of alcoholic beverages will shoot up in future and recognized the factors that will push the alcohol demand in the marketplace.
But alcoholic drinks are not the only segment to have witnessed growth in South Korea. Non-alcoholic drink segment has also seen a steady growth and is anticipated to continue with the same trend in future too. A methodical examination of the non-alcoholic market by the report has distinguished sectors that are under-development and also identified the sectors expected to have maximum growth. It has also talked about the growth factors of all the sections of the beverages market.
"South Korean Food, Beverages and Tobacco Market Forecast till 2011" presents a detailed analysis and assessment of the past, present, and upcoming market trends in the South Korean food, beverage and tobacco industry. It discusses the existing prospects of the market and based on these aspects, gives a detailed analysis on various problems that has to be tackled by the South Korean industry to ensure growth.
posted by RNCOS @ 6:46 PM,
South Korea - Future Leader in Organic & Processed Food Industry
Monday, March 17, 2008
A recent report by the top market research company RNCOS, “South Korean Food, Beverages and Tobacco Market Forecast till 2011", has find out that South Korea, the third largest economy of Asia, is becoming increasingly advanced in its food consumption patterns.
The in-depth and methodical analysis conducted by the report on the food market of South Korea provides a comprehensive overview of the consumption habits of South Koreans in different food segments, such as fruit, vegetable, milk, meat, confectionary etc. The detailed study of all segments of the food market in South Korea observes that South Korea consumes high quantity of meat. The report provides an estimate of per person meat consumption in the nation and tries to identify the reason for exceptionally high meat consumption in the country. As per the report, meat consumption in South Korea will remain high in future as compared to any other food segment.
Fruit is the next sector in South Korea after meat that will witness high demand in coming years says Analyst at RNCOS. According to the report, fruit intake in the country has been on the rise ever since 2003 and in near future, this increase will persist. The report also takes into account factors such as altering taste preferences and growing health consciousness amongst the South Koreans that will be responsible for this rise in fruit consumption.
All these factors are responsible for the rising need for all kinds of organic and processed food products in the country. After studying their present situation, the report maintains that these industries have evolved as the pool of opportunities for both national and foreign players. It observes the effects of rapidly changing ways of South Korean lifestyle and the progressively growing number single-person families that are giving rise to the demand for processed food in the country.
It also recommends fields where there are enormous opportunities for processed food products and which particular retail formats can reap benefits in coming years, thanks to the growing sale of processed food.
“South Korean Food, Beverages and Tobacco Market Forecast till 2011” has been prepared to help clients in examining the prospects, challenges and factors essential for the development of the industry in this East Asian nation. The comprehensive report provides an overview of the key companies (both national and international) in the food and beverages industry in South Korea.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM577.htm
Current Industry News: http://www.rncos.com/blog
posted by RNCOS @ 5:02 PM,
