Fortified/Functional Packaged Food in Peru

PROSPECTS

Fortified/functional is present amongst a variety of product types

Since the enforcement of the healthy eating law in 2019, consumers have been encouraged to read food labels for ingredients and nutritional information. As such, they are more empowered to make decisions and choose between products and understand calorific content.

Fortified/functional packaged food more focused on children

The most important product included under fortified/functional packaged food is baby food, specifically milk formula, with parents constantly searching for products that promote their children’s development. It is common to find baby food with DHA, vitamins or minerals, available across a variety of distribution channels.

Vitamins and minerals have become key ingredients in FF packaged food

Vitamins and minerals are the benefits most often added to fortified/functional packaged food and are strongly promoted by manufacturers. These additions tend to be highlighted on the front of the product’s packaging, with phrases such as, "contains over 10 vitamins and minerals".

COMPETITIVE LANDSCAPE

Multinational Mead Johnson Nutrition Peru maintains its lead with a declining share

The main product within fortified/functional packaged food is FF milk formula, comprised mainly of brands imported and marketed by Mead Johnson Nutrition Peru. However, outside of this category, most fortified/functional packaged food sold in Peru is manufactured by national companies.

Greater competition is expected

Despite the growing search for products with additional benefits, such as vitamins, minerals or fibre, most Peruvians believe that the real benefits of a product should come from the main ingredients and not from being specifically added. For example, the benefit of tuna is in the red fish protein and not in the added DHA that some brands have incorporated.

Success tied to offering benefits across a brand’s range of products

The main fortified/functional packaged food brands have to attract consumers in an attempt to associate them with additional benefits, as the concept of quality has evolved and now depends largely on the attributes offered to consumers. For example, Gloria, which offers fortified/functional products in yoghurt, baby food and breakfast cereals, will have to expand these benefits to other categories such as evaporated or drinking milk.

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