Baked goods sales continued to increase in both volume and value terms in 2019, especially in more urbanised settings. These items are seen as affordable and nutritious for families and also provide convenience for busier lifestyles and while on the go.
Although packaged leavened bread continued to record stronger growth in 2019, unpackaged leavened bread still accounts for the largest share of baked goods sales. Throughout the country, packaged bread continues to make important gains in share, but the majority of consumers still consume unpackaged leavened bread by a ratio of around 3:1 in volume terms (unpackaged to packaged).
Increasingly, consumers are seeking out healthier items in baked goods, including offerings that feature higher fibre and protein content or boast organic claims. In response to consumer demand, some products are focusing more on whole grains or whole wheat as well as incorporating dried fruits (eg raisins) and nuts (eg macadamias).
Artisanal offerings continued to account for around half of retail value sales of baked goods in 2019. This is due to their wide presence across a number of categories, including unpackaged leavened bread, cakes and pastries.
Domestic brands and local manufacturers dominate sales behind the widespread artisanal offerings. Horneados Pepin is the leading branded player, closely followed by Lumijor.
Private label sales are increasing in baked goods, with a number of the modern retailers expanding their offerings of packaged leavened bread (sandwiches) as a way to offer consumers similar products to the branded products at affordable prices. Examples include the First Class line from Grupo Ramos and Centro Cuesta Nacional’s private label products.
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This industry report originates from Passport, our Packaged Food market research database.