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LIST OF CONTENTS AND TABLES

Sauces, Dressings and Condiments in Argentina - Category analysis.......................................... 1
Headlines ........................................................................................................................................ 1
Trends ............................................................................................................................................. 1
Competitive Landscape .................................................................................................................. 2
Prospects ........................................................................................................................................ 3
Category Data ................................................................................................................................. 4
Summary 1 Other Sauces, Dressings and Condiments: Product Types .......................... 4
Table 1 Sales of Sauces, Dressings and Condiments by Category: Volume
2006-2011 ...................................................................................................... 4
Table 2 Sales of Sauces, Dressings and Condiments by Category: Value
2006-2011 ...................................................................................................... 5
Table 3 Sales of Sauces, Dressings and Condiments by Category: % Volume
Growth 2006-2011 ......................................................................................... 6
Table 4 Sales of Sauces, Dressings and Condiments by Category: % Value
Growth 2006-2011 ......................................................................................... 6
Table 5 Wet/Cooking Sauces by Type: % Value Breakdown 2006-2011 .................. 7
Table 6 Sauces, Dressings and Condiments Company Shares 2006-2010 .............. 7
Table 7 Sauces, Dressings and Condiments Brand Shares 2007-2010 .................... 8
Table 8 Sales of Sauces, Dressings and Condiments by Distribution Format:
% Analysis 2006-2011 ................................................................................... 9
Table 9 Forecast Sales of Sauces, Dressings and Condiments by Category:
Volume 2011-2016 ......................................................................................... 9
Table 10 Forecast Sales of Sauces, Dressings and Condiments by Category:
Value 2011-2016 .......................................................................................... 10
Table 11 Forecast Sales of Sauces, Dressings and Condiments by Category:
% Volume Growth 2011-2016...................................................................... 11
Table 12 Forecast Sales of Sauces, Dressings and Condiments by Category:
% Value Growth 2011-2016......................................................................... 11
Sauces, Dressings and Condiments in Argentina - Company Profiles ........................................ 13
Arcor Saic in Packaged Food (argentina)..................................................................................... 13
Strategic Direction ..................................................................................................................... 13
Key Facts................................................................................................................................... 13
Summary 2 Arcor SAIC: Key Facts ................................................................................. 13
Summary 3 Arcor SAIC: Operational Indicators.............................................................. 13
Company Background............................................................................................................... 13
Production ................................................................................................................................. 14
Summary 4 Arcor SAIC: Production Statistics 2009 ....................................................... 15
Competitive Positioning............................................................................................................. 15
Summary 5 Arcor SAIC: Competitive Position 2010 ....................................................... 16
Molinos Río De La Plata SA in Packaged Food (argentina) ........................................................ 16
Strategic Direction ..................................................................................................................... 16
Key Facts................................................................................................................................... 16
Summary 6 Molinos Río de la Plata SA: Key Facts ........................................................ 16
Summary 7 Molinos Río de la Plata SA: Operational Indicators .................................... 17

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Company Background............................................................................................................... 17
Production ................................................................................................................................. 18
Summary 8 Molinos Río de la Plata SA: Production Statistics 2010 .............................. 18
Competitive Positioning............................................................................................................. 19
Summary 9 Molinos Río de la Plata SA: Competitive Position 2010 .............................. 19
Packaged Food in Argentina - Industry Overview ........................................................................ 20
Executive Summary ...................................................................................................................... 20
Rising Demand Drives Growth.................................................................................................. 20
Fresh Meat Consumption Declines, Impacting the Argentinian Diet ........................................ 20
Inflation Threatens Levels of Consumption of Packaged Food................................................ 20
Strong Pressure To Discount Driven by Supermarkets/hypermarkets .................................... 20
Slower Growth Projected for 2012 ............................................................................................ 20
Key Trends and Developments .................................................................................................... 21
Economic Expansion Driven by Strong Consumer Spending .................................................. 21
Argentinian Diet Changes As Fresh Meat Consumption Declines ........................................... 21
Dynamic Packaged Food Industry Grows Despite Inflation ..................................................... 22
Healthier and More Nutritious Products Prosper Across Packaged Food ............................... 23
Foodservice – Key Trends and Developments ............................................................................ 24
Headlines................................................................................................................................... 24
Trends ....................................................................................................................................... 25
Competitive Landscape............................................................................................................. 25
Prospects................................................................................................................................... 26
Category Data ........................................................................................................................... 26
Table 13 Foodservice Sales of Packaged Food by Category: Volume 2006-
2011 ............................................................................................................. 26
Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth
2006-2011 .................................................................................................... 27
Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume
2011-2016 .................................................................................................... 28
Table 16 Forecast Foodservice Sales of Packaged Food by Category: %
Volume Growth 2011-2016 .......................................................................... 28
Impulse and Indulgence Products – Key Trends and Developments .......................................... 29
Headlines................................................................................................................................... 29
Trends ....................................................................................................................................... 29
Competitive Landscape............................................................................................................. 30
Prospects................................................................................................................................... 31
Category Data ........................................................................................................................... 31
Table 17 Sales of Impulse and Indulgence Products by Category: Volume
2006-2011 .................................................................................................... 31
Table 18 Sales of Impulse and Indulgence Products by Category: Value 2006-
2011 ............................................................................................................. 32
Table 19 Sales of Impulse and Indulgence Products by Category: % Volume
Growth 2006-2011 ....................................................................................... 32
Table 20 Sales of Impulse and Indulgence Products by Category: % Value
Growth 2006-2011 ....................................................................................... 32
Table 21 Company Shares of Impulse and Indulgence Products 2006-2010............ 33
Table 22 Brand Shares of Impulse and Indulgence Products 2007-2010 ................. 33

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Table 23 Forecast Sales of Impulse and Indulgence Products by Category:

Volume 2011-2016 ....................................................................................... 34
Table 24 Forecast Sales of Impulse and Indulgence Products by Category:
Value 2011-2016 .......................................................................................... 35
Table 25 Forecast Sales of Impulse and Indulgence Products by Category: %
Volume Growth 2011-2016 .......................................................................... 35
Table 26 Forecast Sales of Impulse and Indulgence Products by Category: %
Value Growth 2011-2016 ............................................................................. 35
Nutrition/staples – Key Trends and Developments ...................................................................... 36
Headlines................................................................................................................................... 36
Trends ....................................................................................................................................... 36
Competitive Landscape............................................................................................................. 37
Prospects................................................................................................................................... 37
Category Data ........................................................................................................................... 38
Table 27 Sales of Nutrition/Staples by Category: Volume 2006-2011 ....................... 38
Table 28 Sales of Nutrition/Staples by Category: Value 2006-2011 .......................... 38
Table 29 Sales of Nutrition/Staples by Category: % Volume Growth 2006-2011 ...... 39
Table 30 Sales of Nutrition/Staples by Category: % Value Growth 2006-2011 ......... 39
Table 31 Company Shares of Nutrition/Staples 2006-2010 ....................................... 40
Table 32 Brand Shares of Nutrition/Staples 2007-2010 ............................................. 40
Table 33 Forecast Sales of Nutrition/Staples by Category: Volume 2011-2016 ........ 41
Table 34 Forecast Sales of Nutrition/Staples by Category: Value 2011-2016 ........... 42
Table 35 Forecast Sales of Nutrition/Staples by Category: % Volume Growth
2011-2016 .................................................................................................... 42
Table 36 Forecast Sales of Nutrition/Staples by Category: % Value Growth
2011-2016 .................................................................................................... 42
Meal Solutions – Key Trends and Developments ........................................................................ 43
Headlines................................................................................................................................... 43
Trends ....................................................................................................................................... 43
Competitive Landscape............................................................................................................. 44
Prospects................................................................................................................................... 45
Category Data ........................................................................................................................... 45
Table 37 Sales of Meal Solutions by Category: Volume 2006-2011 .......................... 45
Table 38 Sales of Meal Solutions by Category: Value 2006-2011 ............................. 46
Table 39 Sales of Meal Solutions by Category: % Volume Growth 2006-2011 ......... 46
Table 40 Sales of Meal Solutions by Category: % Value Growth 2006-2011 ............ 46
Table 41 Company Shares of Meal Solutions 2006-2010 .......................................... 47
Table 42 Brand Shares of Meal Solutions 2007-2010 ................................................ 47
Table 43 Forecast Sales of Meal Solutions by Category: Volume 2011-2016........... 48
Table 44 Forecast Sales of Meal Solutions by Category: Value 2011-2016.............. 48
Table 45 Forecast Sales of Meal Solutions by Category: % Volume Growth
2011-2016 .................................................................................................... 49
Table 46 Forecast Sales of Meal Solutions by Category: % Value Growth 2011-
2016 ............................................................................................................. 49
Market Data ................................................................................................................................... 49
Table 47 Sales of Packaged Food by Category: Volume 2006-2011 ........................ 50
Table 48 Sales of Packaged Food by Category: Value 2006-2011 ........................... 50
Table 49 Sales of Packaged Food by Category: % Volume Growth 2006-2011 ....... 51
Table 50 Sales of Packaged Food by Category: % Value Growth 2006-2011 .......... 52

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Table 51 GBO Shares of Packaged Food 2006-2010 ................................................ 52

Table 52 NBO Shares of Packaged Food 2006-2010 ................................................ 53
Table 53 NBO Brand Shares of Packaged Food 2007-2010 ..................................... 54
Table 54 Penetration of Private Label by Category 2006-2011 ................................. 55
Table 55 Sales of Packaged Food by Distribution Format: % Analysis 2006-
2011 ............................................................................................................. 55
Table 56 Sales of Packaged Food by Category and Distribution Format: %
Analysis 2011 ............................................................................................... 56
Table 57 Forecast Sales of Packaged Food by Category: Volume 2011-2016 ......... 57
Table 58 Forecast Sales of Packaged Food by Category: Value 2011-2016 ............ 58
Table 59 Forecast Sales of Packaged Food by Category: % Volume Growth
2011-2016 .................................................................................................... 59
Table 60 Forecast Sales of Packaged Food by Category: % Value Growth
2011-2016 .................................................................................................... 59
Definitions...................................................................................................................................... 60
Summary 10 Research Sources ........................................................................................ 60

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SAUCES, DRESSINGS AND

CONDIMENTS IN ARGENTINA -
CATEGORY ANALYSIS
HEADLINES

 Sauces, dressings and condiments is expected to increase in value by 29% and in volume by
5% in 2011
 The popularity of home cooking continues to increase, leading to ongoing positive growth in
sauces, dressing and condiments
 Low-fat mayonnaise is expected to post the highest growth during 2011, increasing in value
by an anticipated 31%
 The average unit price of sauces, condiments and dressings is expected to increases by 23%
during 2011
 Unilever de Argentina SA leads sauces, dressing and condiments during 2010 with a value
share of 32%
 Sauces, dressings and condiments is set to increase in volume at a CAGR of 4% over the
forecast period, rising to 436,000 tonnes by 2016

TRENDS

 Demand for sauces, dressings, and condiments in Argentina is being boosted by the
increasing popularity of cooking at home. This trend began during 2009 and strengthened
during 2010 as the prices of meals through consumer foodservice outlets such as restaurants
were subject to high increases. Furthermore, the price of fresh meat continued rising
dramatically during 2010. According to the chamber of commerce for meat producing
companies Ciccra (Camara de la Industria y Comercio de Carnes de la Republica Argentina)
and the institute for the promotion of beef, Instituto de Promocion de Carne Vacuna
Argentina, per capita consumption of fresh meat in Argentina plummeted by 17.3% during
2010 from 70.3kg annually in 2009 to 58.1 kg in 2010. The rising trend of substituting pasta
for meat and poultry has had a significant and positive impact on sales of complementary
products such as tomato pastes and purées, pasta sauces, mustard, ketchup and
mayonnaise, which combined accounted for 67% of total sauces, dressings and condiments
value sales in 2010.
 Sauces, dressing and condiments is set to increase in value by 20% in 2011. The
Argentinean economy is currently labouring under the effects of ongoing high inflation.
Moreover, the significant discrepancy between the government’s official inflation figures,
which are used to calculate constant currency growth rates, and the inflation observed
between 2007 and 2010 has led to several leading companies, consultancy firms and
academic economists across Argentina to question the accuracy of the government’s figures.
 Low-fat mayonnaise and pasta sauces are expected to register the highest growth rates in
sauces, dressings and condiments during 2011. Low-fat mayonnaise is set to increase in
value by 31%, followed closely by pasta sauces with value growth of 31%. The rising
popularity of home cooking as a result of falling consumer purchasing power and the dramatic

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increase in the price of fresh meat fuelled growth in sauces, dressings and condiments
generally and law-fat mayonnaise and pasta sauces in particular as these products offer
consumers easy and convenient ways of preparing more attractive and diverse meals at
home.
 The average unit price in sauces, dressings and condiments is set to increase by 23% in
2011, which is anticipated to be mostly due to the ongoing increases in inflation in Argentina.
 Wet/cooking sauces are available in Argentina in varieties such as Portuguese sauces and
Neapolitan sauces, which are used to prepare meals such as pizzas. Furthermore, Asian
wet/cooking sauces exist, although sales remain low due to the low penetration of Asian food
in Argentina. Growth in wet/cooking sauces during 2011 is, however, anticipated to remain
below overall growth in sauces, dressings and condiments, as wet/cooking sauces is set to
increase in volume by 4% and in value by 26%.
 Other sauces, dressings and condiments is largely comprised of a local speciality called salsa
golf, which is a 50-50 mixture of ketchup and mayonnaise. This sauce is widely consumed
with hot dogs, hearts of palm, as a dressing on salads and as a dip.

Content removed from sample

COMPETITIVE LANDSCAPE

 Unilever de Argentina SA led sauces, dressings and condiments during 2010 with a 32%
value share. Bouillon/stock cubes, mayonnaise and tomato pastes and purées accounted for
67% of total value sales in sauces, dressings and condiments during 2010 and Unilever led
bouillon/stock cubes with a value share of 64% through its Knorr brand, and while it also
dominated mayonnaise with a 75% value share through its variety of brands, including the
leading brand, Hellmann’s. Unilever competes in various price segments in mayonnaise with
its wide brand portfolio, and its Hellmann’s brand led in 2010 with a 38% value share, followed
by Fanacoa and Hellmann’s Light with respective value shares of 16% and 15%.


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PROSPECTS

 In order to maintain demand for new, innovative and healthier products, many of Argentina’s
leading producers of sauces, dressings and condiments will be forced to increase their
expenditure on advertising over the forecast period, especially in light of the expected
declined in the disposable incomes of the majority of Argentina’s consumers.


Content removed from sample

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- Soy Based Sauces

- Spicy Chili/Pepper Data removed from sample
Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings
and Condiments
Sauces, Dressings and
Condiments
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 2 Sales of Sauces, Dressings and Condiments by Category: Value 2006-2011

Peso million
2006 2007 2008 2009 2010 2011

Cooking Sauces
- Bouillon/Stock Cubes
- Dry Sauces/Powder Mixes
- Herbs and Spices Data removed from sample
- Monosodium Glutamate
(MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips
Pickled Products
Table Sauces
- Barbecue Sauces
- Brown Sauces
- Cocktail Sauces
- Curry Sauces
- Fish Sauces
- Horseradish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper
Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings
and Condiments
Sauces, Dressings and
Condiments
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

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Table 3 Sales of Sauces, Dressings and Condiments by Category: % Volume Growth

2006-2011

% volume growth
2010/11 2006-11 CAGR 2006/11 Total

Cooking Sauces
- Bouillon/Stock Cubes
- Dry Sauces/Powder Mixes
- Herbs and Spices Data removed from sample
- Monosodium Glutamate (MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips
Pickled Products
Table Sauces
- Barbecue Sauces
- Brown Sauces
- Cocktail Sauces
- Curry Sauces
- Fish Sauces
- Horseradish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings and Condiments
Sauces, Dressings and Condiments
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 Sales of Sauces, Dressings and Condiments by Category: % Value Growth

2006-2011

% current value growth

2010/11 2006-11 CAGR 2006/11 Total

Cooking Sauces
- Bouillon/Stock Cubes
Data removed from sample
- Dry Sauces/Powder Mixes
- Herbs and Spices
- Monosodium Glutamate (MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips
Pickled Products
Table Sauces
- Barbecue Sauces
- Brown Sauces
- Cocktail Sauces
- Curry Sauces

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- Fish Sauces
- Horseradish Sauces
- Ketchup Data removed from sample
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings and Condiments
Sauces, Dressings and Condiments
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Wet/Cooking Sauces by Type: % Value Breakdown 2006-2011

% retail value rsp

2006 2007 2008 2009 2010 2011

Napolitanean
Portuguese Data removed from sample
Others
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 6 Sauces, Dressings and Condiments Company Shares 2006-2010

% retail value rsp

Company 2006 2007 2008 2009 2010

Data removed from sample

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Data removed from sample

Total 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7 Sauces, Dressings and Condiments Brand Shares 2007-2010

% retail value rsp

Brand Company 2007 2008 2009 2010

Data removed from sample

Total 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

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Table 8 Sales of Sauces, Dressings and Condiments by Distribution Format: %

Analysis 2006-2011

% retail value rsp

2006 2007 2008 2009 2010 2011

Store-Based Retailing
- Grocery Retailers
- - Supermarkets/ Data removed from sample
Hypermarkets
- - Discounters
- - Small Grocery
Retailers
- - - Convenience Stores
- - - Independent Small
Grocers
- - - Forecourt Retailers
- - Other Grocery
Retailers
- Non-Grocery Retailers
- - Health and Beauty
Retailers
- - Other Non-Grocery
Retailers
Non-Store Retailing
- Vending
- Homeshopping
- Internet Retailing
- Direct Selling
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 9 Forecast Sales of Sauces, Dressings and Condiments by Category: Volume

2011-2016

'000 tonnes
2011 2012 2013 2014 2015 2016

Cooking Sauces
- Bouillon/Stock Cubes
- Dry Sauces/Powder Mixes
Data removed from sample
- Herbs and Spices
- Monosodium Glutamate
(MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips
Pickled Products
Table Sauces
- Barbecue Sauces
- Brown Sauces
- Cocktail Sauces
- Curry Sauces
- Fish Sauces
- Horseradish Sauces

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- Ketchup
- Mayonnaise
Data removed from sample
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper
Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings
and Condiments
Sauces, Dressings and
Condiments
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 10 Forecast Sales of Sauces, Dressings and Condiments by Category: Value

2011-2016

Peso million
2011 2012 2013 2014 2015 2016

Cooking Sauces
- Bouillon/Stock Cubes
- Dry Sauces/Powder Mixes Data removed from sample
- Herbs and Spices
- Monosodium Glutamate
(MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips
Pickled Products
Table Sauces
- Barbecue Sauces
- Brown Sauces
- Cocktail Sauces
- Curry Sauces
- Fish Sauces
- Horseradish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper
Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings
and Condiments
Sauces, Dressings and

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Condiments
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 11 Forecast Sales of Sauces, Dressings and Condiments by Category: %

Volume Growth 2011-2016

% volume growth
2015/16 2011-16 CAGR 2011/16 Total

Cooking Sauces
- Bouillon/Stock Cubes
- Dry Sauces/Powder Mixes
- Herbs and Spices Data removed from sample
- Monosodium Glutamate (MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips
Pickled Products
Table Sauces
- Barbecue Sauces
- Brown Sauces
- Cocktail Sauces
- Curry Sauces
- Fish Sauces
- Horseradish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings and Condiments
Sauces, Dressings and Condiments
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 12 Forecast Sales of Sauces, Dressings and Condiments by Category: % Value

Growth 2011-2016

% constant value growth

2011-16 CAGR 2011/16 TOTAL

Cooking Sauces
- Bouillon/Stock Cubes Data removed from sample
- Dry Sauces/Powder Mixes
- Herbs and Spices
- Monosodium Glutamate (MSG)
- Pasta Sauces
- Wet/Cooking Sauces
Dips

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Pickled Products
Table Sauces
- Barbecue Sauces Data removed from sample
- Brown Sauces
- Cocktail Sauces
- Curry Sauces
- Fish Sauces
- Horseradish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Based Sauces
- Spicy Chili/Pepper Sauces
- Tartare Sauces
- Vinaigrettes
- Worcester/Steak Sauces
- Other Table Sauces
Tomato Pastes and Purées
Other Sauces, Dressings and Condiments
Sauces, Dressings and Condiments
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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 Arcor is an independent company owned by the Pagani family. The company was founded in
1951 and has offices in 15 countries with its products reaching more than 120 countries. The
company has a 51% stake in Bagley SA, Latin America’s leading biscuit manufacturer, with
Danone Argentina SA holding the remaining 49%.
 The company is present in almost all packaged food categories and has some brand
extensions in other categories, including fruit/vegetable juice. It is the largest boiled sweets
manufacturer in the world and, through Bagley SA, the largest biscuit manufacturer in Latin
America. It is highly integrated, producing its own milk, sugar cane and packaging.
 The company operates many different product lines with different price positioning, with the
bulk of its products being mid-priced offerings. The company has been expanding its named
brands into different categories, for example from chocolate confectionery to ice cream. Arcor
is also quick to react to competitors’ new launches or marketing campaigns by launching
similar products, campaigns and packaging in an aggressive manner.
 The company is known for having a very wide distribution network, reaching even the smallest
stores in the smallest towns in the country. It is also a large exporter, reaching more than 120
countries with its products.
 In June 2010, Arcor established a strategic, long-term alliance with Coca-Cola Argentina,
through which it will develop new products to be made available across Latin America. In the
wake of this alliance Arcor launched a new water ice cream called Fanta, as well as
Menthoplus Powerade, Menthoplus Sprite and T-Pop’s Sprite within sugar confectionery.
Arcor is seeking to strengthen and deepen the globalisation of its brands and commercial
strategies, through the development of products that have high added value; it is aiming to
leverage the strong brand equity of its own and Coca-Cola products to generate increased
consumer interest.
 Within chocolate confectionery, Arcor launched in September 2010, Bon o Bon Café, a new
presentation of its classic chocolate confectionery, with the same characteristics but with a
soft coffee flavour. In gum, Arcor launched Top Line 7 in 2010. This new sugar free gum
comes in 7-unit packs of larger size and which last longer than standard Top Line gum. It
features new flavours: Xplosive Mint, Dynamite Lemon and Blowing Tangerine. In biscuits
Arcor launched in May 2010, Cereal Mix – cookies with oats and almonds. Cereal Mix is also
the leading brand in snack bars, and with this new product the brand is set to target the same
kind of consumers.

Production

 Arcor’s wide product portfolio includes chocolate and sugar confectionery, biscuits,
canned/preserved food, dried processed food, spreads, gum and snack bars, among other
categories, as well as its own cardboard-, paper- and PVC-based packaging products, sugar
cane-based products and food flavourings. It manufactures these products locally in 29
facilities.
 The company has a total of 40 manufacturing facilities: 29 in Argentina, five in Brazil, four in
Chile, one in Peru and one in Mexico, associated with Grupo Bimbo.
 Arcor invested around US$300 million dollars in its Latin America operations in 2011, partially
funded with debt financing worth US$200 million dollars. 50% of this investment will be
destined for ventures in Argentina, while the rest will be distr buted among the plants the
company owns in Brazil, Chile, Mexico and Peru. In Argentina, the investment will be directed
towards technological upgrades and the enlargement of production capacity, whereas in
Brazil, Chile and Mexico the investment will be focused on its confectionery operations.

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PACKAGED FOOD IN ARGENTINA -

INDUSTRY OVERVIEW
EXECUTIVE SUMMARY

Rising Demand Drives Growth

Consumption continues to be a key driver of Argentina’s economic growth. The economy is
seeing strong development in 2011, on the back of a solid performance in production,
consumption and exports. The strong rebound in output has boosted the packaged food
industry; in general consumers are also exhibiting an enthusiastic appetite for consumption.

Fresh Meat Consumption Declines, Impacting the Argentinian Diet

In 2011, fresh red meat has seen heavy price increases, exceeding the rate of inflation.
According to Cámara de la Industria y Comercio de Carnes y Derivados de la República,
Argentinians’ consumption of fresh meat plunged by 26%, from annual per capita consumption
of 70.3kg in 2009 to 52.3kg in 2011. According to the Instituto de Promoción de Carne Vacuna
Argentina (Organisation for the Promotion of Red Meat), poultry prices also increased by up to
60% in 2011.Both trends left a gap to be filled by alternative packaged food products such as
pasta and frozen processed food.

Inflation Threatens Levels of Consumption of Packaged Food

Double-digit inflation has become a key weakness for the Argentinian economy, eroding
company profitability in 2011. Official data shows consumer prices rose 11% in the 12 months
through to September 2011, however unofficial forecasts indicate that real inflation is at least
twice that rate. Operating costs have become a major issue due to the rise in labour and fixed
costs, which are putting a serious strain on the profitability of small and medium-sized food
producers. At the same time inflation has started to erode the purchasing power of lower-income
groups, limiting their expenditure on packaged food.

Strong Pressure To Discount Driven by Supermarkets/hypermarkets

Sales through supermarkets/hypermarkets continue to drive revenues in the overall packaged
food industry in Argentina. However, rising prices force consumers to be more selective and
smarter in their purchases. Banks, brand operators and retailers have started to work together
to offer various promotions to stimulate demand and build consumer loyalty. Major banks started
this trend after the local financial crisis in 2001-2002. Carrefour (Carrefour SA), Wal-Mart (Wal-
Mart de Argentina SA), Jumbo (Cencosud SA) and Coto (Coto CICSA), the leading
supermarkets/hypermarkets operators, reinforced their strategies after the slowdown in 2009
and because of increasing inflationary pressures.

Slower Growth Projected for 2012

A difficult macroeconomic climate, alongside the deterioration in international financial
conditions, has started to affect consumer expectations; lowering consumption growth during Q3
in 2011.The consumer mood has also been dampened by rising inflation. If the unofficial
inflation estimates are correct, expectations of high inflation will erode consumer purchasing
power, undermining spending potential and reducing potential profits for businesses. Therefore

© Euromonitor International
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packaged food consumption is projected to see a slowdown in its growth in constant value terms
in 2012.

KEY TRENDS AND DEVELOPMENTS

Economic Expansion Driven by Strong Consumer Spending

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Current impact

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Outlook

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Future impact

Content removed from sample

Argentinian Diet Changes As Fresh Meat Consumption Declines

Content removed from sample

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Content removed from sample

Current Impact

Content removed from sample

Outlook

Content removed from sample

Future Impact

Content removed from sample

Dynamic Packaged Food Industry Grows Despite Inflation

Content removed from sample

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Current impact

Content removed from sample

Outlook
Content removed from sample

Future impact

Content removed from sample

Healthier and More Nutritious Products Prosper Across Packaged Food

Content removed from sample

Current Impact

Content removed from sample

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Content removed from sample

Outlook

Content removed from sample

Future Impact

Content removed from sample

FOODSERVICE – KEY TRENDS AND DEVELOPMENTS

Headlines

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY


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


Trends

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

Competitive Landscape

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© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

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Prospects

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

Category Data

Table 51 Foodservice Sales of Packaged Food by Category: Volume 2006-2011

2006 2007 2008 2009 2010 2011

Baby Food (Not

calculable) Data removed from sample
Bakery ( tonnes)
Canned/Preserved Food (
tonnes)
Chilled Processed Food
( tonnes)
Confectionery ( tonnes)
Dairy (Not calculable)
Dried Processed Food (
tonnes)

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Frozen Processed Food (

tonnes)
Ice Cream ('000 litres)
Data removed from sample
Meal Replacement (
tonnes)
Noodles ( tonnes)
Oils and Fats ( tonnes)
Pasta ( tonnes)
Ready Meals ( tonnes)
Sauces, Dressings and
Condiments ( tonnes)
Snack Bars ( tonnes)
Soup ( tonnes)
Spreads ( tonnes)
Sweet and Savoury
Snacks ( tonnes)
Impulse and Indulgence
Products (Not calculable)
Nutrition/Staples (Not
calculable)
Meal Solutions ( tonnes)
Packaged Food (Not
calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 52 Foodservice Sales of Packaged Food by Category: % Volume Growth 2006-

2011

2010/11 2006-11 CAGR 2006/11 Total

Baby Food (Not calculable)

Bakery (% volume growth)
Canned/Preserved Food (% volume growth)
Chilled Processed Food (% volume growth) Data removed from sample
Confectionery (% volume growth)
Dairy (Not calculable)
Dried Processed Food (% volume growth)
Frozen Processed Food (% volume growth)
Ice Cream (% volume growth)
Meal Replacement (% volume growth)
Noodles (% volume growth)
Oils and Fats (% volume growth)
Pasta (% volume growth)
Ready Meals (% volume growth)
Sauces, Dressings and Condiments (%
volume growth)
Snack Bars (% volume growth)
Soup (% volume growth)
Spreads (% volume growth)
Sweet and Savoury Snacks (% volume
growth)
Impulse and Indulgence Products (Not
calculable)
Nutrition/Staples (Not calculable)
Meal Solutions (% volume growth)
Packaged Food (Not calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Table 53 Forecast Foodservice Sales of Packaged Food by Category: Volume 2011-

2016

2011 2012 2013 2014 2015 2016

Baby Food (Not

calculable)
Bakery ( tonnes)
Canned/Preserved Food ( Data removed from sample
tonnes)
Chilled Processed Food
( tonnes)
Confectionery ( tonnes)
Dairy (Not calculable)
Dried Processed Food (
tonnes)
Frozen Processed Food (
tonnes)
Ice Cream ('000 litres)
Meal Replacement (
tonnes)
Noodles ( tonnes)
Oils and Fats ( tonnes)
Pasta ( tonnes)
Ready Meals ( tonnes)
Sauces, Dressings and
Condiments ( tonnes)
Snack Bars ( tonnes)
Soup ( tonnes)
Spreads ( tonnes)
Sweet and Savoury
Snacks ( tonnes)
Impulse and Indulgence
Products (Not calculable)
Nutrition/Staples (Not
calculable)
Meal Solutions ( tonnes)
Packaged Food (Not
calculable)
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 54 Forecast Foodservice Sales of Packaged Food by Category: % Volume

Growth 2011-2016

2015/16 2011-16 CAGR 2011/16 Total

Baby Food (Not calculable)

Bakery (% volume growth) Data removed from sample
Canned/Preserved Food (% volume growth)
Chilled Processed Food (% volume growth)
Confectionery (% volume growth)
Dairy (Not calculable)
Dried Processed Food (% volume growth)
Frozen Processed Food (% volume growth)
Ice Cream (% volume growth)

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Meal Replacement (% volume growth)

Noodles (% volume growth) Data removed from sample
Oils and Fats (% volume growth)
Pasta (% volume growth)
Ready Meals (% volume growth)
Sauces, Dressings and Condiments (%
volume growth)
Snack Bars (% volume growth)
Soup (% volume growth)
Spreads (% volume growth)
Sweet and Savoury Snacks (% volume
growth)
Impulse and Indulgence Products (Not
calculable)
Nutrition/Staples (Not calculable)
Meal Solutions (% volume growth)
Packaged Food (Not calculable)
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

IMPULSE AND INDULGENCE PRODUCTS – KEY TRENDS AND

DEVELOPMENTS

Headlines





Content removed from sample


Trends

Content removed from sample

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Content removed from sample



Competitive Landscape

Content removed from sample

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

 Content removed from sample

Prospects

Content removed from sample

Category Data

Table 55 Sales of Impulse and Indulgence Products by Category: Volume 2006-2011

2006 2007 2008 2009 2010 2011

Confectionery ('000
tonnes) Data removed from sample
Pastries ('000 tonnes)
Cakes ('000 tonnes)
Biscuits ('000 tonnes)
Ice Cream (million
litres)
Sweet and Savoury
Snacks ('000 tonnes)

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Snack Bars ('000 tonnes) Data removed from sample

Impulse and Indulgence
Products (Not calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 56 Sales of Impulse and Indulgence Products by Category: Value 2006-2011

Peso million
2006 2007 2008 2009 2010 2011

Confectionery
Pastries Data removed from sample
Cakes
Biscuits
Ice Cream
Sweet and Savoury Snacks
Snack Bars
Impulse and Indulgence
Products
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 57 Sales of Impulse and Indulgence Products by Category: % Volume Growth

2006-2011

% volume growth
2010/11 2006-11 CAGR 2006/11 Total

Confectionery
Pastries Data removed from sample
Cakes
Biscuits
Ice Cream
Sweet and Savoury Snacks
Snack Bars
Impulse and Indulgence Products
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 58 Sales of Impulse and Indulgence Products by Category: % Value Growth

2006-2011

% current value growth

2010/11 2006-11 CAGR 2006/11 Total

Confectionery
Pastries Data removed from sample
Cakes
Biscuits
Ice Cream
Sweet and Savoury Snacks
Snack Bars
Impulse and Indulgence Products

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 59 Company Shares of Impulse and Indulgence Products 2006-2010

% retail value rsp

Company 2006 2007 2008 2009 2010

Data removed from sample

Total 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 60 Brand Shares of Impulse and Indulgence Products 2007-2010

% retail value rsp

Brand Company 2007 2008 2009 2010

Data removed from sample

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Data removed from sample

Total 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 61 Forecast Sales of Impulse and Indulgence Products by Category: Volume

2011-2016

2011 2012 2013 2014 2015 2016

Confectionery ('000
tonnes) Data removed from sample
Pastries ('000 tonnes)
Cakes ('000 tonnes)
Biscuits ('000 tonnes)
Ice Cream (million
litres)
Sweet and Savoury
Snacks ('000 tonnes)
Snack Bars ('000 tonnes)
Impulse and Indulgence
Products (Not calculable)
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Table 62 Forecast Sales of Impulse and Indulgence Products by Category: Value 2011-
2016

Peso million
2011 2012 2013 2014 2015 2016

Confectionery
Pastries Data removed from sample
Cakes
Biscuits
Ice Cream
Sweet and Savoury Snacks
Snack Bars
Impulse and Indulgence
Products
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 63 Forecast Sales of Impulse and Indulgence Products by Category: % Volume

Growth 2011-2016

% volume growth
2015/16 2011-16 CAGR 2011/16 Total

Confectionery
Pastries Data removed from sample
Cakes
Biscuits
Ice Cream
Sweet and Savoury Snacks
Snack Bars
Impulse and Indulgence Products
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 64 Forecast Sales of Impulse and Indulgence Products by Category: % Value

Growth 2011-2016

% constant value growth

2011-16 CAGR 2011/16 TOTAL

Confectionery
Pastries Data removed from sample
Cakes
Biscuits
Ice Cream
Sweet and Savoury Snacks
Snack Bars
Impulse and Indulgence Products
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

NUTRITION/STAPLES – KEY TRENDS AND DEVELOPMENTS

Headlines

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

 Content removed from sample




Trends


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

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Competitive Landscape

 Content removed from sample

Prospects

Content removed from sample

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Content removed from sample



Category Data

Table 65 Sales of Nutrition/Staples by Category: Volume 2006-2011

2006 2007 2008 2009 2010 2011

Bread ('000 tonnes)

Breakfast Cereals ('000
Data removed from sample
tonnes)
Dairy (Not calculable)
Meal Replacement
Products ('000 tonnes)
Oils and Fats ('000
tonnes)
Baby Food (Not
calculable)
Spreads ('000 tonnes)
Pasta ('000 tonnes)
Noodles ('000 tonnes)
Rice ('000 tonnes)
Nutrition/Staples (Not
calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 66 Sales of Nutrition/Staples by Category: Value 2006-2011

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Peso million
2006 2007 2008 2009 2010 2011

Bread
Breakfast Cereals Data removed from sample
Dairy
Meal Replacement Products
Oils and Fats
Baby Food
Spreads
Pasta
Noodles
Rice
Nutrition/Staples
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 67 Sales of Nutrition/Staples by Category: % Volume Growth 2006-2011

2010/11 2006-11 CAGR 2006/11 Total

Bread (% volume growth)

Breakfast Cereals (% volume growth) Data removed from sample
Dairy (Not calculable)
Meal Replacement Products (% volume
growth)
Oils and Fats (% volume growth)
Baby Food (Not calculable)
Spreads (% volume growth)
Pasta (% volume growth)
Noodles (% volume growth)
Rice (% volume growth)
Nutrition/Staples (Not calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 68 Sales of Nutrition/Staples by Category: % Value Growth 2006-2011

% current value growth

2010/11 2006-11 CAGR 2006/11 Total

Bread
Breakfast Cereals Data removed from sample
Dairy
Meal Replacement Products
Oils and Fats
Baby Food
Spreads
Pasta
Noodles
Rice
Nutrition/Staples
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Table 69 Company Shares of Nutrition/Staples 2006-2010

% retail value rsp

Company 2006 2007 2008 2009 2010

Data removed from sample

Total 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 70 Brand Shares of Nutrition/Staples 2007-2010

% retail value rsp

Brand Company 2007 2008 2009 2010

Data removed from sample

Unidas Ltda

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Data removed from sample

Total 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 71 Forecast Sales of Nutrition/Staples by Category: Volume 2011-2016

2011 2012 2013 2014 2015 2016

Bread ('000 tonnes)

Breakfast Cereals ('000
tonnes) Data removed from sample
Dairy (Not calculable)
Meal Replacement
Products ('000 tonnes)
Oils and Fats ('000
tonnes)
Baby Food (Not
calculable)
Spreads ('000 tonnes)
Pasta ('000 tonnes)
Noodles ('000 tonnes)
Rice ('000 tonnes)
Nutrition/Staples (Not
calculable)

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 72 Forecast Sales of Nutrition/Staples by Category: Value 2011-2016

Peso million
2011 2012 2013 2014 2015 2016

Bread
Breakfast Cereals Data removed from sample
Dairy
Meal Replacement Products
Oils and Fats
Baby Food
Spreads
Pasta
Noodles
Rice
Nutrition/Staples
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 73 Forecast Sales of Nutrition/Staples by Category: % Volume Growth 2011-

2016

2015/16 2011-16 CAGR 2011/16 Total

Bread (% volume growth)

Breakfast Cereals (% volume growth) Data removed from sample
Dairy (Not calculable)
Meal Replacement Products (% volume
growth)
Oils and Fats (% volume growth)
Baby Food (Not calculable)
Spreads (% volume growth)
Pasta (% volume growth)
Noodles (% volume growth)
Rice (% volume growth)
Nutrition/Staples (Not calculable)
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 74 Forecast Sales of Nutrition/Staples by Category: % Value Growth 2011-2016

% constant value growth

2011-16 CAGR 2011/16 TOTAL

Bread
Breakfast Cereals Data removed from sample
Dairy
Meal Replacement Products
Oils and Fats
Baby Food
Spreads
Pasta
Noodles

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Rice Data removed from sample

Nutrition/Staples
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

MEAL SOLUTIONS – KEY TRENDS AND DEVELOPMENTS

Headlines


 Content removed from sample





Trends


Content removed from sample


© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Content removed from sample

Competitive Landscape

Content removed from sample

© Euromonitor International
WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Content removed from sample

Prospects

Content removed from sample

Category Data

Table 75 Sales of Meal Solutions by Category: Volume 2006-2011

'000 tonnes
2006 2007 2008 2009 2010 2011

Ready Meals
Data removed from sample
Canned/Preserved Food
Frozen Processed Food
Dessert Mixes

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Dinner Mixes
Chilled Processed Food Data removed from sample
Sauces, Dressings and
Condiments
Soup
Meal Solutions
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 76 Sales of Meal Solutions by Category: Value 2006-2011

Peso million
2006 2007 2008 2009 2010 2011

Ready Meals
Canned/Preserved Food Data removed from sample
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food
Sauces, Dressings and
Condiments
Soup
Meal Solutions
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 77 Sales of Meal Solutions by Category: % Volume Growth 2006-2011

% volume growth
2010/11 2006-11 CAGR 2006/11 Total

Ready Meals
Canned/Preserved Food Data removed from sample
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food
Sauces, Dressings and Condiments
Soup
Meal Solutions
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 78 Sales of Meal Solutions by Category: % Value Growth 2006-2011

% current value growth

2010/11 2006-11 CAGR 2006/11 Total

Ready Meals Data removed from sample

Canned/Preserved Food
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Data removed from sample

Sauces, Dressings and Condiments
Soup
Meal Solutions
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 79 Company Shares of Meal Solutions 2006-2010

% retail value rsp

Company 2006 2007 2008 2009 2010

Data removed from sample

Total 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 80 Brand Shares of Meal Solutions 2007-2010

% retail value rsp

Brand Company 2007 2008 2009 2010

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Data removed from sample

Total 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 81 Forecast Sales of Meal Solutions by Category: Volume 2011-2016

'000 tonnes
2011 2012 2013 2014 2015 2016

Ready Meals
Canned/Preserved Food Data removed from sample
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food
Sauces, Dressings and
Condiments
Soup
Meal Solutions
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 82 Forecast Sales of Meal Solutions by Category: Value 2011-2016

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Peso million
2011 2012 2013 2014 2015 2016

Ready Meals
Canned/Preserved Food Data removed from sample
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food
Sauces, Dressings and
Condiments
Soup
Meal Solutions
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 83 Forecast Sales of Meal Solutions by Category: % Volume Growth 2011-2016

% volume growth
2015/16 2011-16 CAGR 2011/16 Total

Ready Meals
Canned/Preserved Food Data removed from sample
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food
Sauces, Dressings and Condiments
Soup
Meal Solutions
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 84 Forecast Sales of Meal Solutions by Category: % Value Growth 2011-2016

% constant value growth

2011-16 CAGR 2011/16 TOTAL

Ready Meals
Canned/Preserved Food Data removed from sample
Frozen Processed Food
Dessert Mixes
Dinner Mixes
Chilled Processed Food
Sauces, Dressings and Condiments
Soup
Meal Solutions
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

MARKET DATA

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Table 85 Sales of Packaged Food by Category: Volume 2006-2011

2006 2007 2008 2009 2010 2011

Baby Food (Not

calculable)
Bakery ('000 tonnes)
Canned/Preserved Food
Data removed from sample
('000 tonnes)
Chilled Processed Food
('000 tonnes)
Confectionery ('000
tonnes)
Dairy (Not calculable)
Dried Processed Food
('000 tonnes)
Frozen Processed Food
('000 tonnes)
Ice Cream (million
litres)
Meal Replacement ('000
tonnes)
Noodles ('000 tonnes)
Oils and Fats ('000
tonnes)
Pasta ('000 tonnes)
Ready Meals ('000 tonnes)
Sauces, Dressings and
Condiments ('000 tonnes)
Snack Bars ('000 tonnes)
Soup ('000 tonnes)
Spreads ('000 tonnes)
Sweet and Savoury
Snacks ('000 tonnes)
Impulse and Indulgence
Products (Not calculable)
Nutrition/Staples (Not
calculable)
Meal Solutions ('000
tonnes)
Packaged Food (Not
calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Notes: Sum of sectors does not equal total packaged food because of double counting (eg canned soup is
included in soups and canned foods)
Volume sales cannot be consolidated due to different unit measurements (eg confectionery in tonnes
and ice cream in litres)

Table 86 Sales of Packaged Food by Category: Value 2006-2011

Peso million
2006 2007 2008 2009 2010 2011

Baby Food
Bakery Data removed from sample
Canned/Preserved Food
Chilled Processed Food
Confectionery

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WWW.EUROMONITOR.COM SAMPLE REPORT FOR ILLUSTRATION ONLY

Dairy
Dried Processed Food
Frozen Processed Food Data removed from sample
Ice Cream
Meal Replacement
Noodles
Oils and Fats
Pasta
Ready Meals
Sauces, Dressings and
Condiments
Snack Bars
Soup
Spreads
Sweet and Savoury Snacks
Impulse and Indulgence
Products
Nutrition/Staples
Meal Solutions
Packaged Food
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Notes: Sum of sectors does not equal total packaged food because of double counting (eg canned soup is
included in soups and canned foods)

Table 87 Sales of Packaged Food by Category: % Volume Growth 2006-2011

2010/11 2006-11 CAGR 2006/11 Total

Baby Food (Not calculable)

Bakery (% volume growth)
Canned/Preserved Food (% volume growth)
Chilled Processed Food (% volume growth)
Data removed from sample
Confectionery (% volume growth)
Dairy (Not calculable)
Dried Processed Food (% volume growth)
Frozen Processed Food (% volume growth)
Ice Cream (% volume growth)
Meal Replacement (% volume growth)
Noodles (% volume growth)
Oils and Fats (% volume growth)
Pasta (% volume growth)
Ready Meals (% volume growth)
Sauces, Dressings and Condiments (%
volume growth)
Snack Bars (% volume growth)
Soup (% volume growth)
Spreads (% volume growth)
Sweet and Savoury Snacks (% volume
growth)
Impulse and Indulgence Products (Not
calculable)
Nutrition/Staples (Not calculable)
Meal Solutions (% volume growth)
Packaged Food (Not calculable)
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Notes: Sum of sectors does not equal total packaged food because of double counting (eg canned soup is
included in soups and canned foods)

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Volume sales cannot be consolidated due to different unit measurements (eg confectionery in tonnes
and ice cream in litres)

Table 88 Sales of Packaged Food by Category: % Value Growth 2006-2011

% current value growth

2010/11 2006-11 CAGR 2006/11 Total

Baby Food
Bakery
Canned/Preserved Food Data removed from sample
Chilled Processed Food
Confectionery
Dairy
Dried Processed Food
Frozen Processed Food
Ice Cream
Meal Replacement
Noodles
Oils and Fats
Pasta
Ready Meals
Sauces, Dressings and Condiments
Snack Bars
Soup
Spreads
Sweet and Savoury Snacks
Impulse and Indulgence Products
Nutrition/Staples
Meal Solutions
Packaged Food
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Notes: Sum of sectors does not equal total packaged food because of double counting (eg canned soup is
included in soups and canned foods)

Table 89 GBO Shares of Packaged Food 2006-2010

% retail value rsp

Company 2006 2007 2008 2009 2010

Data removed from sample

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Data removed from sample

Total 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 90 NBO Shares of Packaged Food 2006-2010

% retail value rsp

Company 2006 2007 2008 2009 2010

Data removed from sample

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Data removed from sample

Total 100.0 100.0 100.0 100.0 100.0

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 91 NBO Brand Shares of Packaged Food 2007-2010

% retail value rsp

Brand Company 2007 2008 2009 2010

Data removed from sample

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Data removed from sample

Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 92 Penetration of Private Label by Category 2006-2011

% retail value rsp

2006 2007 2008 2009 2010 2011

Bakery
Canned/Preserved Food
Chilled Processed Food Data removed from sample
Dairy
Dried Processed Food
Frozen Processed Food
Ice Cream
Impulse and Indulgence
Products
Meal Solutions
Nutrition/Staples
Oils and Fats
Packaged Food
Pasta
Ready Meals
Sauces, Dressings and
Condiments
Snack Bars
Spreads
Sweet and Savoury Snacks
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 93 Sales of Packaged Food by Distribution Format: % Analysis 2006-2011

% retail value rsp

2006 2007 2008 2009 2010 2011

Store-Based Retailing
- Grocery Retailers Data removed from sample
- - Supermarkets/
Hypermarkets
- - Discounters
- - Small Grocery
Retailers
- - - Convenience Stores
- - - Independent Small
Grocers
- - - Forecourt Retailers
- - Other Grocery
Retailers
- Non-Grocery Retailers
- - Health and Beauty
Retailers
- - Other Non-Grocery
Retailers

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Non-Store Retailing
- Vending Data removed from sample
- Homeshopping
- Internet Retailing
- Direct Selling
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 94 Sales of Packaged Food by Category and Distr bution Format: % Analysis
2011

% retail value rsp

BF B CPF CHP C D

Store-Based Retailing
Grocery Retailers
Supermarkets/Hypermarkets Data removed from sample
Discounters
Small Grocery Retailers
Convenience Stores
Independent Small Grocers
Forecourt Retailers
Confectionery specialists
Other Grocery Retailers
Non-Grocery Retailers
Health and Beauty
Retailers
Other Non-Grocery
Retailers
Non-Store Retailing
Vending
Homeshopping
Internet Retailing
Direct Selling
Total 100.0 100.0 100.0 100.0 100.0 100.0

DPF FPF IC MR NOO OF

Store-Based Retailing
Grocery Retailers
Supermarkets/Hypermarkets Data removed from sample
Discounters
Small Grocery Retailers
Convenience Stores
Independent Small Grocers
Forecourt Retailers
Confectionery specialists
Other Grocery Retailers
Non-Grocery Retailers
Health and Beauty
Retailers
Other Non-Grocery
Retailers
Non-Store Retailing
Vending
Homeshopping
Internet Retailing
Direct Selling

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Total 100.0 100.0 100.0 100.0 100.0 100.0

P RM SDC SB SOU SPR

Store-Based Retailing
Grocery Retailers
Supermarkets/Hypermarkets Data removed from sample
Discounters
Small Grocery Retailers
Convenience Stores
Independent Small Grocers
Forecourt Retailers
Confectionery specialists
Other Grocery Retailers
Non-Grocery Retailers
Health and Beauty
Retailers
Other Non-Grocery
Retailers
Non-Store Retailing
Vending
Homeshopping
Internet Retailing
Direct Selling
Total 100.0 100.0 100.0 100.0 100.0 100.0

SSS

Store-Based Retailing
Grocery Retailers
Supermarkets/Hypermarkets Data removed from sample
Discounters
Small Grocery Retailers
Convenience Stores
Independent Small Grocers
Forecourt Retailers
Confectionery specialists
Other Grocery Retailers
Non-Grocery Retailers
Health and Beauty
Retailers
Other Non-Grocery
Retailers
Non-Store Retailing
Vending
Homeshopping
Internet Retailing
Direct Selling
Total 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Key: BF = baby food; B = bakery; CPF = canned/preserved food; CHP = chilled processed food; C =
confectionery; D = dairy; DPF = dried processed food; FPF = frozen processed food; IC = ice cream; MR
= meal replacement; NOO = noodles; OF = oils and fats; P = pasta; RM = ready meals; SDC = sauces,
dressings and condiments; SB = snack bars; SOU = soup; SPR = spreads; SSS = sweet and savoury
snacks

Table 95 Forecast Sales of Packaged Food by Category: Volume 2011-2016

2011 2012 2013 2014 2015 2016

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Baby Food (Not

calculable)
Bakery ('000 tonnes)
Canned/Preserved Food
Data removed from sample
('000 tonnes)
Chilled Processed Food
('000 tonnes)
Confectionery ('000
tonnes)
Dairy (Not calculable)
Dried Processed Food
('000 tonnes)
Frozen Processed Food
('000 tonnes)
Ice Cream (million
litres)
Meal Replacement ('000
tonnes)
Noodles ('000 tonnes)
Oils and Fats ('000
tonnes)
Pasta ('000 tonnes)
Ready Meals ('000 tonnes)
Sauces, Dressings and
Condiments ('000 tonnes)
Snack Bars ('000 tonnes)
Soup ('000 tonnes)
Spreads ('000 tonnes)
Sweet and Savoury
Snacks ('000 tonnes)
Impulse and Indulgence
Products (Not calculable)
Nutrition/Staples (Not
calculable)
Meal Solutions ('000
tonnes)
Packaged Food (Not
calculable)
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 96 Forecast Sales of Packaged Food by Category: Value 2011-2016

Peso million
2011 2012 2013 2014 2015 2016

Baby Food
Bakery Data removed from sample
Canned/Preserved Food
Chilled Processed Food
Confectionery
Dairy
Dried Processed Food
Frozen Processed Food
Ice Cream
Meal Replacement
Noodles
Oils and Fats

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Pasta
Ready Meals Data removed from sample
Sauces, Dressings and
Condiments
Snack Bars
Soup
Spreads
Sweet and Savoury Snacks
Impulse and Indulgence
Products
Nutrition/Staples
Meal Solutions
Packaged Food
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 97 Forecast Sales of Packaged Food by Category: % Volume Growth 2011-2016

2015/16 2011-16 CAGR 2011/16 Total

Baby Food (Not calculable)

Bakery (% volume growth)
Canned/Preserved Food (% volume growth)
Chilled Processed Food (% volume growth) Data removed from sample
Confectionery (% volume growth)
Dairy (Not calculable)
Dried Processed Food (% volume growth)
Frozen Processed Food (% volume growth)
Ice Cream (% volume growth)
Meal Replacement (% volume growth)
Noodles (% volume growth)
Oils and Fats (% volume growth)
Pasta (% volume growth)
Ready Meals (% volume growth)
Sauces, Dressings and Condiments (%
volume growth)
Snack Bars (% volume growth)
Soup (% volume growth)
Spreads (% volume growth)
Sweet and Savoury Snacks (% volume
growth)
Impulse and Indulgence Products (Not
calculable)
Nutrition/Staples (Not calculable)
Meal Solutions (% volume growth)
Packaged Food (Not calculable)
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 98 Forecast Sales of Packaged Food by Category: % Value Growth 2011-2016

% constant value growth

2011-16 CAGR 2011/16 TOTAL
Data removed from sample
Baby Food
Bakery
Canned/Preserved Food

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