Peruvian consumers are highly price sensitive. The leading player, Nestlé Perú, is extremely aware of this and attracted consumers to its impulse ice cream by offering small portions at the eye-catching price of PEN1.
Demand for ice cream is not exclusively characterised by socioeconomic factors. It is, in fact, determined by the need for refreshment, particularly in the warmer months.
Both impulse and take-home ice cream witnessed significant retail volume declines in 2018 due to political and economic instability, which reduced consumer purchasing power. Shoppers therefore cut back on their purchases of indulgence items, such as ice cream, in favour of focusing on their basic needs.
Nestlé Perú continued to dominate ice cream and frozen desserts in 2019, largely due to the popularity of its D'onofrio brand. The player’s main strategy is to ensure the brand is widely available in all distribution channels across the country.
Private label represents the main competition for Nestlé Perú. Private label understandably focuses on take-home ice cream and therefore its growth is limited as the category is significantly smaller than impulse ice cream.
Reduced-sugar ice cream has recorded sales growth since emerging in 2015, with a small group of consumers seeking products with fewer calories or which are considered healthier. Growth of healthier versions with lower sugar and fat contents are likely to enjoy strong growth rates over the forecast period.
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Discover the latest market trends and uncover sources of future market growth for the Ice Cream and Frozen Desserts industry in Peru with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport.