Sales of dairy products and alternatives rebounded across the board in 2022. The complete lifting of COVID-19 restrictions enabled consumers to resume their normal lifestyles and purchasing habits.
Despite the complex economic context, dairy products and alternatives is expected to register an expansion in sales during 2022. The category rebounded after experiencing a decline followed by a slowdown in 2020 and 2021, respectively, when consumers had to avail themselves of state aid during the height of the pandemic, which negatively impacted retail sales.
Consumers in Paraguay typically eat four meals per day: breakfast, lunch (which is considered the most important meal), merienda (consumed at teatime and usually consisting of a hot drink and a baked snack) and dinner. Nevertheless, mealtimes do vary according to region and family.
Younger medium and high-income consumers are boosting demand for plant-based dairy as well as new protein products, with which they have become familiar from travelling to other countries in Latin America, the US and Europe.
The condition of the roads in Paraguay varies depending on the region, with the most developed highways connecting Asuncion, Encarnacion and Ciudad del Este in the southern half of the country. Much of the country’s infrastructure requires improvement given that there are still thousands of miles of rural, unpaved roads, which are impassable during the rainy season.
Sales of dairy products and alternatives are set to increase over the forecast period. Rising incomes and increased urbanisation should enable more of the population to afford products beyond their primary necessities, although macroeconomic growth could slow compared to the review period.
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Dairy Products and Alternatives
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