Following the major spike in demand seen in 2020, when the COVID-19 restrictions meant more cooking and eating at home, sales in real value terms have continued to increase, albeit at a slower rate. This is in spite of the inflationary environment being experienced post-pandemic. Further positive growth is expected over the forecast period, with products such as edible oils seen as integral ingredients in household cooking regimes.
This report comes in PPT.
The so-called “hourglass” effect, one of the main trends at present in Brazil, represents the polarisation of consumption that is driving the sales in different price tiers. While more affluent Brazilians are willing to pay for premium products that are seen as offering superior quality, lower-income consumers are tending to choose economy options.
Mexican consumers are increasingly looking for products that contain healthy ingredients in their food and beverages. This trend, given further impetus by the pandemic, is driving the launch of new products, such as Knorr soups with claims such as "no preservatives" or "reduced salt", or McCormick's Balance mayonnaise line with avocado oil or sesame oil.
Private label lines have lost ground in a number of key categories in Argentina, in part because their traditional price advantage has been diminished somewhat by the widespread participation of popular brands in the Precios Justos scheme. With Precios Justos not being available at small local grocers, this is also seeing this distribution channel lose share to modern grocery retail chains.
Black octagons or seals as on-pack warning labels about the high salt, sugar or fat content in packaged food products are being seen in an increasing number of countries in the region. This is leading industry players to utilise new ingredients or formulas to avoid them, boosting the number of products available with reduced or even zero levels of these contents.
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