Cooking ingredients and meals are expected to register healthy current value growth, though volume growth is expected be much more moderate, as inflation takes hold. The war in Ukraine is pushing up global fuel prices and impacting retail prices.
While price is the main driver of value sales in 2022, consumers are also increasingly health conscious and there is increased demand for products with lower fat, lower sugar and lower salt and players are launching healthier alternatives in response. In addition, demand for products with clean labelling, along with simple, natural ingredients, is also on the rise.
Major regional and international manufacturers, Unilever de Centroamérica SA, Cía Numar SA and Nestlé Costa Rica SA remain the key players and lead across categories such as sauces, dressings and condiments, and soup where they have kept setting the pace in terms of innovation, point-of-sale availability and pricing.
While small local grocers still account for sizeable value share, modern grocery retails have gained ground over the review period, particularly in urban areas. Also, with heightened price sensitivity in 2022, consumers are choosing to shop in retailers such as Wal-Mart and discounter chains such as Pali and Maxi Pali.
Cooking ingredients and meals will register moderate constant value and volume growth over the forecast period. Economic uncertainty will dampen volume growth somewhat, due to rising inflation, fuelled by the war in Ukraine.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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