Executive Summary

Mar 2019
PROSPECTS
Fortified/functional is present amongst a variety of product types

Fortified/functional benefits are present in a range of product types, addressing consumers’ demands and at the same time supporting the low growth recorded in 2018. Each year, an increasing number of products emerge to offer specific value because manufacturers look for a way to differentiate themselves from competitors without reducing prices.

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 through across a variety of distribution channels.

Vitamins and minerals have become key ingredients in FF packaged food

Vitamins and minerals are the benefits that are 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" and in some cases, the products are promoted with advertising on television.

COMPETITIVE LANDSCAPE
Greater competition is expected

Although there is a growing trend to search for products that have additional benefits, such as vitamins, minerals or fibre, demand remained very low in 2018. This is largely because Peruvians believe that the real benefits of a product should come from the main ingredients and not from being specifically added.

Multinational company leads category

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 product, most of fortified/functional packaged food sold in Peru is manufactured by national companies and it is expected that in the future they will gain share as they are present in growing product categories, such as FF yoghurt, FF breakfast cereal and FF snack bars.

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, since the concept of quality has evolved and now depends largely on the attributes offered to consumers. Therefore, for example, Gloria, which offers fortified/functional products in yoghurt, baby food and breakfast cereals, has to expand on these benefits to evaporated or drinking milk, amongst others.

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Fortified/Functional Packaged Food in Peru

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Overview: Discover the latest market trends and uncover sources of future market growth for the Fortified/Functional Packaged Food industry in Peru with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

The Fortified/Functional Packaged Food in Peru market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Production, imports by origin, exports by destination
  • Robust and transparent market research methodology, conducted in-country

Why buy this report?

  • 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

This industry report originates from Passport, our Passport market research database.

Fortified/Functional Packaged Food in Peru - Category analysis

HEADLINES

PROSPECTS

Fortified/functional is present amongst a variety of product types
Fortified/functional packaged food more focused on children
Vitamins and minerals have become key ingredients in FF packaged food

COMPETITIVE LANDSCAPE

Greater competition is expected
Multinational company leads category
Success tied to offering benefits across a brand’s range of products

CATEGORY DATA

Table 1 Sales of Fortified/Functional Packaged Food by Category: Value 2013-2018
Table 2 Sales of Fortified/Functional Packaged Food by Category: % Value Growth 2013-2018
Table 3 Key Functional Ingredients in Fortified/Functional Breakfast Cereals: % Value 2013-2018
Table 4 Key Functional Ingredients in Fortified/Functional Sugar Confectionery: % Value 2013-2018
Table 5 Key Functional Ingredients in Fortified/Functional Milk: % Value 2013-2018
Table 6 Sales of Fortified/Functional Yoghurt by Standard Fat vs Reduced Fat: % Value 2013-2018
Table 7 NBO Company Shares of Fortified/Functional Packaged Food: % Value 2014-2018
Table 8 LBN Brand Shares of Fortified/Functional Packaged Food: % Value 2015-2018
Table 9 Distribution of Fortified/Functional Packaged Food by Format: % Value 2013-2018
Table 10 Forecast Sales of Fortified/Functional Packaged Food by Category: Value 2018-2023
Table 11 Forecast Sales of Fortified/Functional Packaged Food by Category: % Value Growth 2018-2023

Health and Wellness in Peru - Industry Overview

EXECUTIVE SUMMARY

Health and wellness trend continues to drive Peruvians’ consumption behaviour
New regulations have mixed effects on health and wellness
Dynamic year for key players in health and wellness
Development of new alternatives in modern channel helps increase availability of health and wellness products
Health and wellness predicted to retain stable growth over forecast period

MARKET DATA

Table 12 Sales of Health and Wellness by Type: Value 2013-2018
Table 13 Sales of Health and Wellness by Type: % Value Growth 2013-2018
Table 14 Sales of Health and Wellness by Category: Value 2013-2018
Table 15 Sales of Health and Wellness by Category: % Value Growth 2013-2018
Table 16 Sales of Health and Wellness by Prime Positioning: Value 2013-2018
Table 17 Sales of Health and Wellness by Prime Positioning: % Value Growth 2013-2018
Table 18 NBO Company Shares of Health and Wellness: % Value 2014-2018
Table 19 LBN Brand Shares of Health and Wellness: % Value 2015-2018
Table 20 Distribution of Health and Wellness by Format: % Value 2013-2018
Table 21 Distribution of Health and Wellness by Format and Category: % Value 2018
Table 22 Forecast Sales of Health and Wellness by Type: Value 2018-2023
Table 23 Forecast Sales of Health and Wellness by Type: % Value Growth 2018-2023
Table 24 Forecast Sales of Health and Wellness by Category: Value 2018-2023
Table 25 Forecast Sales of Health and Wellness by Category: % Value Growth 2018-2023
Table 26 Forecast Sales of Health and Wellness by Prime Positioning: Value 2018-2023
Table 27 Forecast Sales of Health and Wellness by Prime Positioning: % Value Growth 2018-2023

DEFINITIONS

SOURCES

Summary 1 Research Sources