Table of Contents

TABLE OF CONTENTS
Chapter 1 EXECUTIVE SUMMARY 2
Summary Market Level - Bakery & Cereals 2
Summary category level - Bread & rolls 3
Summary category level - Breakfast cereals 4
Summary category level - Cakes and Pastries 5
Summary category level - Cookies (sweet biscuits) 6
Summary category level - Crackers (savory biscuits) 7
Summary category level - Morning goods 8
Chapter 2 INTRODUCTION 9
What is this report about? 9
How to use this report 9
Market Definition 10
Chapter 3 MARKET OVERVIEW 27
Value Analysis, 2001-2006 27
Value Analysis, 2006-2011 29
Value Analysis, US$ 2001-2006 32
Value Analysis, US$ 2006-2011 33
Volume Analysis, 2001-2006 35
Volume Analysis, 2006-2011 37
Company and Brand Share Analysis 41
Distribution Analysis 46
Expenditure & consumption per capita 48
Chapter 4 LEADING COMPANY PROFILES 54
Altria Group, Inc. 54
Grupo Bimbo S.A. de C.V. 56
Chapter 5 CATEGORY ANALYSIS - BREAD & ROLLS 58
Value Analysis, 2001-2006 58
Value Analysis, 2006-2011 59
Value Analysis, US$ 2001-2006 61
Value Analysis, US$ 2006-2011 61
Volume Analysis, 2001-2006 63
Volume Analysis, 2006-2011 64
Company and Brand Share Analysis 67
Distribution Analysis 70
Expenditure & consumption per capita 72
Chapter 6 CATEGORY ANALYSIS - BREAKFAST CEREALS 75
Value Analysis, 2001-2006 75
Value Analysis, 2006-2011 76
Value Analysis, US$ 2001-2006 78
Value Analysis, US$ 2006-2011 78
Volume Analysis, 2001-2006 80
Volume Analysis, 2006-2011 81
Company and Brand Share Analysis 84
Distribution Analysis 87
Expenditure & consumption per capita 89
Chapter 7 CATEGORY ANALYSIS - CAKES & PASTRIES 92
Value Analysis, 2001-2006 92
Value Analysis, 2006-2011 93
Value Analysis, US$ 2001-2006 95
Value Analysis, US$ 2006-2011 95
Volume Analysis, 2001-2006 97
Volume Analysis, 2006-2011 98
Company and Brand Share Analysis 101
Distribution Analysis 104
Expenditure & consumption per capita 106
Chapter 8 CATEGORY ANALYSIS - COOKIES (SWEET BISCUITS) 109
Value Analysis, 2001-2006 109
Value Analysis, 2006-2011 111
Value Analysis, US$ 2001-2006 114
Value Analysis, US$ 2006-2011 115
Volume Analysis, 2001-2006 117
Volume Analysis, 2006-2011 119
Company and Brand Share Analysis 123
Distribution Analysis 127
Expenditure & consumption per capita 129
Chapter 9 CATEGORY ANALYSIS - CRACKERS (SAVORY BISCUITS) 135
Value Analysis, 2001-2006 135
Value Analysis, 2006-2011 136
Value Analysis, US$ 2001-2006 138
Value Analysis, US$ 2006-2011 139
Volume Analysis, 2001-2006 141
Volume Analysis, 2006-2011 142
Company and Brand Share Analysis 145
Distribution Analysis 148
Expenditure & consumption per capita 150
Chapter 10 CATEGORY ANALYSIS - MORNING GOODS 154
Value Analysis, 2001-2006 154
Value Analysis, 2006-2011 155
Value Analysis, US$ 2001-2006 157
Value Analysis, US$ 2006-2011 157
Volume Analysis, 2001-2006 159
Volume Analysis, 2006-2011 160
Company and Brand Share Analysis 163
Distribution Analysis 165
Expenditure & consumption per capita 167
Chapter 11 COUNTRY COMPARISON 170
Value 170
Volume 175
Market Share 180
Chapter 12 NEW PRODUCT DEVELOPMENT 181
Product launches over time 181
Recent product launches 183
Chapter 13 URUGUAY MACROECONOMIC PROFILE 184
Macroeconomic Indicators 184
Chapter 14 RESEARCH METHODOLOGY 189
Methodology overview 189
Secondary research 190
Market modelling 191
Primary research 192
Data finalisation 192
Ongoing research 193
CHAPTER 16 APPENDIX 194
Future readings 194
How to contact experts in your industry 194

LIST OF FIGURES
Figure 1: Uruguay Bakery & Cereals value & value forecast, 2001-2011 (UYU m, nominal prices) 31
Figure 2: Uruguay Bakery & Cereals category growth comparison, by value, 2001-2011 34
Figure 3: Uruguay Bakery & Cereals volume & volume forecast, 2001-2011 (Kg m) 39
Figure 4: Uruguay Bakery & Cereals category growth comparison, by volume, 2001-2011 40
Figure 5: Uruguay Bakery & Cereals company share, by value, 2005-2006 (%) 43
Figure 6: Uruguay Bakery & Cereals distribution channels, by value, 2005-2006 (%) 47
Figure 7: Uruguay Bread & rolls value & value forecast, 2001-2011 (UYU m, nominal prices) 60
Figure 8: Uruguay Bread & rolls category growth comparison, by value, 2001-2011 62
Figure 9: Uruguay Bread & rolls volume & volume forecast, 2001-2011 (Kg m) 65
Figure 10: Uruguay Bread & rolls category growth comparison, by volume, 2001-2011 66
Figure 11: Uruguay Bread & rolls company share, by value, 2005-2006 (%) 68
Figure 12: Uruguay Bread & rolls distribution channels, by value, 2005-2006 (%) 71
Figure 13: Uruguay Breakfast cereals value & value forecast, 2001-2011 (UYU m, nominal prices) 77
Figure 14: Uruguay Breakfast cereals category growth comparison, by value, 2001-2011 79
Figure 15: Uruguay Breakfast cereals volume & volume forecast, 2001-2011 (Kg m) 82
Figure 16: Uruguay Breakfast cereals category growth comparison, by volume, 2001-2011 83
Figure 17: Uruguay Breakfast cereals company share, by value, 2005-2006 (%) 85
Figure 18: Uruguay Breakfast cereals distribution channels, by value, 2005-2006 (%) 88
Figure 19: Uruguay Cakes & Pastries value & value forecast, 2001-2011 (UYU m, nominal prices) 94
Figure 20: Uruguay Cakes & pastries category growth comparison, by value, 2001-2011 96
Figure 21: Uruguay Cakes & Pastries volume & volume forecast, 2001-2011 (Kg m) 99
Figure 22: Uruguay Cakes & Pastries category growth comparison, by volume, 2001-2011 100
Figure 23: Uruguay Cakes & Pastries company share, by value, 2005-2006 (%) 102
Figure 24: Uruguay Cakes & Pastries distribution channels, by value, 2005-2006 (%) 105
Figure 25: Uruguay Cookies (sweet biscuits) value & value forecast, 2001-2011 (UYU m, nominal prices) 113
Figure 26: Uruguay Cookies (sweet biscuits) category growth comparison, by value, 2001-2011 116
Figure 27: Uruguay Cookies (sweet biscuits) volume & volume forecast, 2001-2011 (Kg m) 121
Figure 28: Uruguay Cookies (sweet biscuits) category growth comparison, by volume, 2001-2011 122
Figure 29: Uruguay Cookies (sweet biscuits) company share, by value, 2005-2006 (%) 125
Figure 30: Uruguay Cookies (sweet biscuits) distribution channels, by value, 2005-2006 (%) 128
Figure 31: Uruguay Crackers (savory biscuits) value & value forecast, 2001-2011 (UYU m, nominal prices) 137
Figure 32: Uruguay Crackers (savory biscuits) category growth comparison, by value, 2001-2011 140
Figure 33: Uruguay Crackers (savory biscuits) volume & volume forecast, 2001-2011 (Kg m) 143
Figure 34: Uruguay Crackers (savory biscuits) category growth comparison, by volume, 2001-2011 144
Figure 35: Uruguay Crackers (savory biscuits) company share, by value, 2005-2006 (%) 146
Figure 36: Uruguay Crackers (savory biscuits) distribution channels, by value, 2005-2006 (%) 149
Figure 37: Uruguay Morning goods value & value forecast, 2001-2011 (UYU m, nominal prices) 156
Figure 38: Uruguay Morning goods category growth comparison, by value, 2001-2011 158
Figure 39: Uruguay Morning goods volume & volume forecast, 2001-2011 (Kg m) 161
Figure 40: Uruguay Morning goods category growth comparison, by volume, 2001-2011 162
Figure 41: Uruguay Morning goods distribution channels, by value, 2005-2006 (%) 166
Figure 42: Global Bakery & Cereals market split (value terms, 2006) – Top 5 countries 171
Figure 43: Global Bakery & Cereals market value, 2001 – 2006 (Top 5 countries) 174
Figure 44: Global Bakery & Cereals market split (volume terms, 2006) – Top 5 countries 176
Figure 45: Global Bakery & Cereals market volume, 2001 – 2006 (Top 5 countries) 179
Figure 46: Annual data review process 190

LIST OF TABLES
Table 1: Bakery & Cereals category definitions 11
Table 2: Bakery & Cereals distribution channels 13
Table 3: Uruguay Bakery & Cereals value, 2001-2006 (UYU m, nominal prices) 28
Table 4: Uruguay Bakery & Cereals value forecast, 2006-2011 (UYU m, nominal prices) 30
Table 5: Uruguay Bakery & Cereals value, 2001-2006 (US$ m nominal prices) 32
Table 6: Uruguay Bakery & Cereals value forecast, 2006-2011 (US$ m nominal prices) 33
Table 7: Uruguay Bakery & Cereals volume, 2001-2006 (Kg m) 36
Table 8: Uruguay Bakery & Cereals volume forecast, 2006-2011 (Kg m) 38
Table 9: Uruguay Bakery & Cereals brand share, by value, 2005-2006 (%) 41
Table 10: Uruguay Bakery & Cereals value, by brand 2005-2006 (UYU m nominal prices) 42
Table 11: Uruguay Bakery & Cereals company share by value, 2005-2006 (%) 44
Table 12: Uruguay Bakery & Cereals value, by company, 2005-2006 (UYU m nominal prices) 45
Table 13: Uruguay Bakery & Cereals distribution channels, by value, 2005-2006 (%) 46
Table 14: Uruguay Bakery & Cereals value, by distribution channel, 2005-2006 (UYU m nominal prices) 46
Table 15: Uruguay Bakery & Cereals expenditure per capita, 2001-2006 (UYU, nominal prices) 48
Table 16: Uruguay Bakery & Cereals forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 49
Table 17: Uruguay Bakery & Cereals expenditure per capita, 2001-2006 (US$ nominal prices) 50
Table 18: Uruguay Bakery & Cereals forecast expenditure per capita, 2006-2011 (US$ nominal prices) 51
Table 19: Uruguay Bakery & Cereals consumption per capita, 2001-2006 (Kg) 52
Table 20: Uruguay Bakery & Cereals forecast consumption per capita, 2006-2011 (Kg) 53
Table 21: Altria Group, Inc. Key Facts 54
Table 22: Grupo Bimbo S.A. de C.V. Key Facts 56
Table 23: Uruguay Bread & rolls value, 2001-2006 (UYU m, nominal prices) 58
Table 24: Uruguay Bread & rolls value forecast, 2006-2011 (UYU m, nominal prices) 59
Table 25: Uruguay Bread & rolls value, 2001-2006 (US$ m nominal prices) 61
Table 26: Uruguay Bread & rolls value forecast, 2006-2011 (US$ m nominal prices) 61
Table 27: Uruguay Bread & rolls volume, 2001-2006 (Kg m) 63
Table 28: Uruguay Bread & rolls volume forecast, 2006-2011 (Kg m) 64
Table 29: Uruguay Bread & rolls brand share, by value, 2005-2006 (%) 67
Table 30: Uruguay Bread & rolls value, by brand 2005-2006 (UYU m nominal prices) 67
Table 31: Uruguay Bread & rolls company share by value, 2005-2006 (%) 69
Table 32: Uruguay Bread & rolls value, by company, 2005-2006 (UYU m nominal prices) 69
Table 33: Uruguay Bread & rolls distribution channels, by value, 2005-2006 (%) 70
Table 34: Uruguay Bread & rolls value, by distribution channel, 2005-2006 (UYU m nominal prices) 70
Table 35: Uruguay Bread & rolls expenditure per capita, 2001-2006 (UYU, nominal prices) 72
Table 36: Uruguay Bread & rolls forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 72
Table 37: Uruguay Bread & rolls expenditure per capita, 2001-2006 (US$ nominal prices) 73
Table 38: Uruguay Bread & rolls forecast expenditure per capita, 2006-2011 (US$ nominal prices) 73
Table 39: Uruguay Bread & rolls consumption per capita, 2001-2006 (Kg) 74
Table 40: Uruguay Bread & rolls forecast consumption per capita, 2006-2011 (Kg) 74
Table 41: Uruguay Breakfast cereals value, 2001-2006 (UYU m, nominal prices) 75
Table 42: Uruguay Breakfast cereals value forecast, 2006-2011 (UYU m, nominal prices) 76
Table 43: Uruguay Breakfast cereals value, 2001-2006 (US$ m nominal prices) 78
Table 44: Uruguay Breakfast cereals value forecast, 2006-2011 (US$ m nominal prices) 78
Table 45: Uruguay Breakfast cereals volume, 2001-2006 (Kg m) 80
Table 46: Uruguay Breakfast cereals volume forecast, 2006-2011 (Kg m) 81
Table 47: Uruguay Breakfast cereals brand share, by value, 2005-2006 (%) 84
Table 48: Uruguay Breakfast cereals value, by brand 2005-2006 (UYU m nominal prices) 84
Table 49: Uruguay Breakfast cereals company share by value, 2005-2006 (%) 86
Table 50: Uruguay Breakfast cereals value, by company, 2005-2006 (UYU m nominal prices) 86
Table 51: Uruguay Breakfast cereals distribution channels, by value, 2005-2006 (%) 87
Table 52: Uruguay Breakfast cereals value, by distribution channel, 2005-2006 (UYU m nominal prices) 87
Table 53: Uruguay Breakfast cereals expenditure per capita, 2001-2006 (UYU, nominal prices) 89
Table 54: Uruguay Breakfast cereals forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 89
Table 55: Uruguay Breakfast cereals expenditure per capita, 2001-2006 (US$ nominal prices) 90
Table 56: Uruguay Breakfast cereals forecast expenditure per capita, 2006-2011 (US$ nominal prices) 90
Table 57: Uruguay Breakfast cereals consumption per capita, 2001-2006 (Kg) 91
Table 58: Uruguay Breakfast cereals forecast consumption per capita, 2006-2011 (Kg) 91
Table 59: Uruguay Cakes & Pastries value, 2001-2006 (UYU m, nominal prices) 92
Table 60: Uruguay Cakes & Pastries value forecast, 2006-2011 (UYU m, nominal prices) 93
Table 61: Uruguay Cakes & Pastries value, 2001-2006 (US$ m nominal prices) 95
Table 62: Uruguay Cakes & Pastries value forecast, 2006-2011 (US$ m nominal prices) 95
Table 63: Uruguay Cakes & Pastries volume, 2001-2006 (Kg m) 97
Table 64: Uruguay Cakes & Pastries volume forecast, 2006-2011 (Kg m) 98
Table 65: Uruguay Cakes & Pastries brand share, by value, 2005-2006 (%) 101
Table 66: Uruguay Cakes & Pastries value, by brand 2005-2006 (UYU m nominal prices) 101
Table 67: Uruguay Cakes & Pastries company share by value, 2005-2006 (%) 103
Table 68: Uruguay Cakes & Pastries value, by company, 2005-2006 (UYU m nominal prices) 103
Table 69: Uruguay Cakes & Pastries distribution channels, by value, 2005-2006 (%) 104
Table 70: Uruguay Cakes & Pastries value, by distribution channel, 2005-2006 (UYU m nominal prices) 104
Table 71: Uruguay Cakes & Pastries expenditure per capita, 2001-2006 (UYU, nominal prices) 106
Table 72: Uruguay Cakes & Pastries forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 106
Table 73: Uruguay Cakes & Pastries expenditure per capita, 2001-2006 (US$ nominal prices) 107
Table 74: Uruguay Cakes & Pastries forecast expenditure per capita, 2006-2011 (US$ nominal prices) 107
Table 75: Uruguay Cakes & Pastries consumption per capita, 2001-2006 (Kg) 108
Table 76: Uruguay Cakes & Pastries forecast consumption per capita, 2006-2011 (Kg) 108
Table 77: Uruguay Cookies (sweet biscuits) value, 2001-2006 (UYU m, nominal prices) 110
Table 78: Uruguay Cookies (sweet biscuits) value forecast, 2006-2011 (UYU m, nominal prices) 112
Table 79: Uruguay Cookies (sweet biscuits) value, 2001-2006 (US$ m nominal prices) 114
Table 80: Uruguay Cookies (sweet biscuits) value forecast, 2006-2011 (US$ m nominal prices) 115
Table 81: Uruguay Cookies (sweet biscuits) volume, 2001-2006 (Kg m) 118
Table 82: Uruguay Cookies (sweet biscuits) volume forecast, 2006-2011 (Kg m) 120
Table 83: Uruguay Cookies (sweet biscuits) brand share, by value, 2005-2006 (%) 123
Table 84: Uruguay Cookies (sweet biscuits) value, by brand 2005-2006 (UYU m nominal prices) 124
Table 85: Uruguay Cookies (sweet biscuits) company share by value, 2005-2006 (%) 126
Table 86: Uruguay Cookies (sweet biscuits) value, by company, 2005-2006 (UYU m nominal prices) 126
Table 87: Uruguay Cookies (sweet biscuits) distribution channels, by value, 2005-2006 (%) 127
Table 88: Uruguay Cookies (sweet biscuits) value, by distribution channel, 2005-2006 (UYU m nominal prices) 127
Table 89: Uruguay Cookies (sweet biscuits) expenditure per capita, 2001-2006 (UYU, nominal prices) 129
Table 90: Uruguay Cookies (sweet biscuits) forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 130
Table 91: Uruguay Cookies (sweet biscuits) expenditure per capita, 2001-2006 (US$ nominal prices) 131
Table 92: Uruguay Cookies (sweet biscuits) forecast expenditure per capita, 2006-2011 (US$ nominal prices) 132
Table 93: Uruguay Cookies (sweet biscuits) consumption per capita, 2001-2006 (Kg) 133
Table 94: Uruguay Cookies (sweet biscuits) forecast consumption per capita, 2006-2011 (Kg) 134
Table 95: Uruguay Crackers (savory biscuits) value, 2001-2006 (UYU m, nominal prices) 135
Table 96: Uruguay Crackers (savory biscuits) value forecast, 2006-2011 (UYU m, nominal prices) 136
Table 97: Uruguay Crackers (savory biscuits) value, 2001-2006 (US$ m nominal prices) 138
Table 98: Uruguay Crackers (savory biscuits) value forecast, 2006-2011 (US$ m nominal prices) 139
Table 99: Uruguay Crackers (savory biscuits) volume, 2001-2006 (Kg m) 141
Table 100: Uruguay Crackers (savory biscuits) volume forecast, 2006-2011 (Kg m) 142
Table 101: Uruguay Crackers (savory biscuits) brand share, by value, 2005-2006 (%) 145
Table 102: Uruguay Crackers (savory biscuits) value, by brand 2005-2006 (UYU m nominal prices) 145
Table 103: Uruguay Crackers (savory biscuits) company share by value, 2005-2006 (%) 147
Table 104: Uruguay Crackers (savory biscuits) value, by company, 2005-2006 (UYU m nominal prices) 147
Table 105: Uruguay Crackers (savory biscuits) distribution channels, by value, 2005-2006 (%) 148
Table 106: Uruguay Crackers (savory biscuits) value, by distribution channel, 2005-2006 (UYU m nominal prices) 148
Table 107: Uruguay Crackers (savory biscuits) expenditure per capita, 2001-2006 (UYU, nominal prices) 150
Table 108: Uruguay Crackers (savory biscuits) forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 151
Table 109: Uruguay Crackers (savory biscuits) expenditure per capita, 2001-2006 (US$ nominal prices) 151
Table 110: Uruguay Crackers (savory biscuits) forecast expenditure per capita, 2006-2011 (US$ nominal prices) 152
Table 111: Uruguay Crackers (savory biscuits) consumption per capita, 2001-2006 (Kg) 152
Table 112: Uruguay Crackers (savory biscuits) forecast consumption per capita, 2006-2011 (Kg) 153
Table 113: Uruguay Morning goods value, 2001-2006 (UYU m, nominal prices) 154
Table 114: Uruguay Morning goods value forecast, 2006-2011 (UYU m, nominal prices) 155
Table 115: Uruguay Morning goods value, 2001-2006 (US$ m nominal prices) 157
Table 116: Uruguay Morning goods value forecast, 2006-2011 (US$ m nominal prices) 157
Table 117: Uruguay Morning goods volume, 2001-2006 (Kg m) 159
Table 118: Uruguay Morning goods volume forecast, 2006-2011 (Kg m) 160
Table 119: Uruguay Morning goods brand share, by value, 2005-2006 (%) 163
Table 120: Uruguay Morning goods value, by brand 2005-2006 (UYU m nominal prices) 163
Table 121: Uruguay Morning goods company share by value, 2005-2006 (%) 164
Table 122: Uruguay Morning goods value, by company, 2005-2006 (UYU m nominal prices) 164
Table 123: Uruguay Morning goods distribution channels, by value, 2005-2006 (%) 165
Table 124: Uruguay Morning goods value, by distribution channel, 2005-2006 (UYU m nominal prices) 165
Table 125: Uruguay Morning goods expenditure per capita, 2001-2006 (UYU, nominal prices) 167
Table 126: Uruguay Morning goods forecast expenditure per capita, 2006-2011 (UYU, nominal prices) 167
Table 127: Uruguay Morning goods expenditure per capita, 2001-2006 (US$ nominal prices) 168
Table 128: Uruguay Morning goods forecast expenditure per capita, 2006-2011 (US$ nominal prices) 168
Table 129: Uruguay Morning goods consumption per capita, 2001-2006 (Kg) 169
Table 130: Uruguay Morning goods forecast consumption per capita, 2006-2011 (Kg) 169
Table 131: Global Bakery & Cereals market value, 2006 170
Table 132: Global Bakery & Cereals market split (value terms (US$ m), 2006) – Top 5 countries 173
Table 133: Global Bakery & Cereals market volume, 2006 175
Table 134: Global Bakery & Cereals market split (volume terms, 2006) – Top 5 countries 178
Table 135: Leading players - Top 5 countries 180
Table 136: Uruguay Bakery & Cereals new product launches (reports) and SKUs, by company (Top 5 companies), 2006 181
Table 137: Uruguay Bakery & Cereals new product launches (reports), by flavor and fragrances (Top 10 flavors), 2006 182
Table 138: Uruguay Bakery & Cereals new product launches (reports), by Ingredients (Top 10 Ingredients), 2006 182
Table 139: Uruguay Bakery & Cereals new product launches (reports), by Package tags or Claims 2006 183
Table 140: Uruguay Bakery & Cereals new product launches (reports) - Recent 5 launches 183
Table 141: Uruguay population, by age group, 2000-2005 (millions) 184
Table 142: Uruguay population forecast, by age group, 2005-2010 (millions) 185
Table 143: Uruguay population, by gender, 2000-2005 (millions) 185
Table 144: Uruguay population forecast, by gender, 2005-2010 (millions) 186
Table 145: Uruguay real GDP, 2000-2005 (UYU bn, 2005 prices) 186
Table 146: Uruguay real GDP forecast, 2005-2010 (UYU bn, 2005 prices) 186
Table 147: Uruguay nominal GDP, 2000-2005 (UYU bn, nominal prices) 187
Table 148: Uruguay real GDP, 2000-2005 (US$ bn, 2005 prices) 187
Table 149: Uruguay real GDP forecast, 2005-2010 (US$ bn, 2005 prices) 187
Table 150: Uruguay consumer price index, 2000-2005 (2000=100) 188
Table 151: Uruguay consumer price index, 2005-2010 (2000=100) 188
Table 152: Uruguay exchange rate, 2000-2005 188