The development of additional levels of segmentation continued to boost the sales performance of baked goods in 2019, with added-value claims remaining focused on reaching more specific groups of consumers through further levels of specialisation. Gluten-free, organic and vegan claims continued to be among higher-end proposals targeted at upper-end health-conscious buyers.
More affordable and smaller packaging presentations of the more indulgent products in traditional baked goods, such as packaged pastries and cakes, continued to increase in availability across modern and traditional grocery retailers. This was helping to increase consumption occasions of such snack-type options through impulse purchases based on lower expenditure per purchase.
Added-value functional baked goods options, such as sourdough, organic, gluten-free and probiotic products, are expected to continue growing in popularity over the forecast period. They will be targeting an expanding base of younger millennial consumers interested in adopting healthier eating habits or in avoiding certain types of foods (due to intolerance or personal beliefs).
Baked goods continues to be characterised by the strong penetration that artisanal bread has among local consumers from all socioeconomic segments across the country. Artisanal baked goods therefore continued to account for the clear majority of value sales of baked goods in Costa Rica in 2019, leveraging consumption tradition, pricing and availability, while benefiting from the ability to target buyers from all socioeconomic segments across the country.
The rest of the sales in baked goods continue to be significantly fragmented, with a large number of domestic players as well as the modern retailers’ private label lines (eg Wal-Mart, Automercado and AMPM/Fresh Market) competing for sales. The competition is based on point-of-sale availability, appealing product formats, higher-quality ingredients, pricing and freshness claims.
As already seen during 2018-2019, new development opportunities over the forecast period will be driven by added-value proposals, such as organic, vegan and gluten-free baked goods. Examples of popular imported gluten-free lines include Udi’s, Schnitzer and Katz (found at Automercado) as well as products from domestic players such as Jinca Foods (a gluten-free flour specialist) and Papu, with both the local players having recently introduced new products developments in packaged bread.
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This industry report originates from Passport, our Packaged Food market research database.