Bread continued to represent the vast majority of sales of baked goods in 2019, with artisanal products dominating the category, as these products are regarded as fresher as they are baked on a daily basis. French bread, similar to small baguettes, is the most popular type among Peruvians.
Although baked goods is set to record reasonable growth over the forecast period, largely driven by increasing consumption of packaged varieties of bread, many consumers are trying to switch to a healthier diet, including by reducing their daily intake of carbohydrates. Following a low carb diet has become popular globally in recent years, and Peru is no exception.
In packaged cakes, the leading product is panettone, with Peru second in the world in terms of consumption per capita of this cake. The product is mainly sold in July and December, associated with tradition and festivities.
Unpackaged bread (both flat and leavened) continued to represent the majority of total baked goods value sales in 2019, although its share continued to decline. There are over 500 varieties of bread in Peru, including those prepared with traditional grains such as quinoa or kiwicha as well as others containing fruit.
Panificadora Bimbo del Perú continued to lead baked goods in 2019 due to its capacity to innovate and develop its wide distribution network. Half of the company is owned by Alicorp, one of the largest food companies in Peru, which controls the production and supply of wheat flour, oils and sugar, among other key ingredients, helping to manage catering and costs.
Paneton Clasico D'Onofrio from Nestlé Perú remained the most popular brand of panettone, which is included in packaged cakes. Consumers perceive this brand as traditional and of the highest quality, although it has been losing share since 2015 due to the strong marketing efforts from other brands, such as Todinno from Todinno, as well as from private label products, which have increased their penetration due to their low prices and good quality.
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This industry report originates from Passport, our Packaged Food market research database.