Japan Food and Drink Report Q1 2014

Japan Food and Drink Report Q1 2014

Published: January 2014
Publisher: Business Monitor International (BMI)
Product ref: 192009
Pages: 123
Format: PDF
Delivery: Immediate download

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BMI's outlook for Japan's food and drink industry remains subdued as the stagnant economy continues to limit the industry's growth potential. Consumption tax hikes, planned for April 2014, will further weaken the Japanese consumer, while the absence of structural reforms and negative demographic tendencies will weigh on the economy over the longer term.

Prime Minister Shinzo Abe's combination of ultra-loose monetary policy and higher public spending has bolstered economic growth in 2013. As such, BMI has revised its forecast for Japan's real GDP growth to 1.8%, from a previous forecast of 1.4%. However, we believe that even this moderate growth rate is unsustainable over the coming years, as the effects of Abe's monetary and fiscal measures will gradually wane and as the government takes action to manage its excessive national debt. As one of the measures to increase its revenues, the government is considering gradually raising the consumption sales tax - from 5% to 10% - by 2015. If passed, the tax increases will put additional pressure on consumer spending power.

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Related research categories

By sector: General drinks

By market: Japan (in Asia)


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