Brazil is slowly recovering from the worst economic recession in its history, which began in 2014 and lasted throughout to 2017, with the second semester of that year showing modest signs of reheating through stable interest and inflation rates and a decrease in unemployment. However, consumer habits that were adopted during the crisis still impact how consumers choose food products and are expected to keep doing so in the forecast period.
While the effects of the recession still indeed influence consumers’ preference for cheaper pack types, signs of economic recovery such as stable interest and inflation rates, decreasing unemployment and the expectation of positive GDP growth are boosting confidence among consumers, especially higher-end consumers. Higher-end consumers were not extremely affected by the crisis, but reduced their spending owing to the chaotic recession.
While dried baby food and milk formula enjoy modest penetration across Brazilian households, prepared baby food is still a niche only accessible to wealthy consumers. Thus, mothers who can purchase prepared baby food for their children are usually more concerned with health and wellness trends, as well as quality ingredients, and are willing to spend a greater amount of money for their children.
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This industry report originates from Passport, our Packaging market research database.