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Learn moreNov 2018
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Limited and unstable product offerings, high prices and competition from cheaper breakfast substitutes shaped breakfast cereals during 2018, with retail volume sales continuing on a downwards path, after a catastrophic fall in 2016. The notorious absence of pre-cooked corn meal for making arepas – the most traditional feature of Venezuelan breakfasts – contributed to a slowdown in the volume decline of breakfast cereals.
Hot cereals is composed of oatmeal-based products that require imported inputs, since the tropical climate in Venezuela does not allow the domestic farming of oats. Insufficient supply was caused by a fall in imports, which is not expected to reverse any time soon.
Retail volume sales of hot cereals showed the slowest volume decline within breakfast cereals in 2018, as consumers are increasingly inclined to purchase products that are more filling and can be eaten by all family members, given that household budgets are very quickly being eroded by inflation. In 2018, RTE cereals, which encompasses family breakfast cereals and children’s breakfast cereals, continued to have an uneven product presence.
Alimentos Kellogg dominated breakfast cereals in value terms until 2015, when restrictions on the access to foreign currency, coupled with increasing labour costs, negatively affected its competitiveness. In May 2018, 400 workers showed up for work at the Kellogg factory only to find a message attached to the plant’s closed doors which stated that the company had to close and exit the country due to the current economic environment, and that all financial obligations with its workers had been taken care of appropriately.
Alfonzo Rivas & Cía was the main company which filled the void left by Kellogg in breakfast cereals. It increased to second in the ranking in 2018 by competing exclusively with its domestic brands such as Maizoritos Azucaradas and Flips in children’s breakfast cereals, and Maizoritos Cronch Flakes in family breakfast cereals.
Since 2016, manufacturers of oatmeal have gained value share, so two local manufacturers of oatmeal held leading positions in breakfast cereals in 2018. Local competitor Inproceca competes in hot cereals with its Avelina brand, offering a range of flavoured products, premium products and an instant version requiring little cooking time.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Breakfast cereals industry in Venezuela with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Packaged Food market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.