Following six consecutive years of decline, breakfast cereals is poised to record robust growth in retail volume sales for 2020 as a whole. The category witnessed high levels of panic buying and stockpiling between March and May after the government imposed a nationwide lockdown to curb the spread of COVID-19 in Argentina, in part because these products have long storage lives.
In addition to remaining by far the largest category, children’s breakfast cereals is projected to show the fastest development in retail volume and current value growth terms in 2020. Because parents invariably prioritise the needs of their kids, this category was the chief beneficiary of stockpiling in the initial months after the nationwide lockdown came into effect.
Alimentos Granix remains the clear leader in breakfast cereals in Argentina. The company has consolidated its already commanding lead in 2020, with a substantial increase in its overall value share projected for the entire year.
As the COVID-19 pandemic recedes and Argentinians start spending less time at home, breakfast cereals retail volume sales are expected to decline in 2021. However, gradual economic improvements should see volume sales rebound in 2022 and then increase steadily thereafter.
The outbreak of COVID-19 led many companies in breakfast cereals to push back planned launches in 2020. Some did so because their capacity to test and manufacture new products was hampered by the nationwide lockdown, which lasted for several months and included strict health and safety rules to allow for greater social distancing in factories.
The share of breakfast cereals retail value sales generated via e-commerce rose substantially in 2020 as a result of COVID-19. The experience of the pandemic has strengthened consumer appreciation for the convenience of online grocery shopping, particularly among mid-to-high-income Argentinians, hence this channel should continue to gain ground over the forecast period.
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Understand the latest market trends and future growth opportunities for the Breakfast Cereals industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Breakfast Cereals research and analysis database.
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