Latin America

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

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…

Amid the constraints imposed by the impacts of the pandemic, rising inflation, the devaluation of the Brazilian real against the US dollar, and successive restrictions in various global supply chains, players have had to concentrate their efforts on…

Despite the easing of the consumer price index throughout 2022, Brazilian consumers continued to pay high prices for food items. Like other categories, sauces, dips and condiments has experienced a period of widespread price increases that persists…

Economic uncertainty in 2022 impacted access not only to high-value products in Brazil but also to basic items for various consumer groups in the country. The inflationary process triggered by macroeconomic policies, combined with external shocks to…

The recent trajectory of edible oils in Brazil brings with it dynamics influenced by both the consumption of a product predominantly manufactured abroad, such as olive oil, and by its commodity-like characteristics, as seen in soy oil. The average…

Retail demand for cooking ingredients and meals experienced a slowdown in 2022 during a period of high inflation. Throughout the year, the intensification of a phenomenon locally known as the “hourglass” effect was evident. It divided consumers into…

This report examines inflation levels and drivers globally and in key countries in Q4 2023 and 2024. Global inflation is moderating, although divergence remains among the key economies. Higher volatility in the energy markets and disruption of…

Jams and preserves remains the largest category in sweet spreads, registering a slight contraction in retail volume terms in 2023. The decline can be explained by a rise in the number of Uruguayans crossing the border into Argentina in order to buy…

Chocolate spreads maintained its growth in 2023, in contrast to other categories within sweet spreads, which registered high growth rates during the COVID-19 crisis, but then saw sales fall away as life returned to normal and people started going…

The jams and preserves category holds significant importance in terms of retail volume sales, following substantial growth during the COVID-19 pandemic. In 2023, volume growth has returned to normal rates with retail prices stabilising. Local brands…

Historically, chocolate spreads have been an expensive option for Ecuadorians and is usually only found in modern retail channels where shoppers tend to have higher purchasing power. As a result, chocolate spreads have been inaccessible to a large…

Jams and preserves is the largest category by volume with the majority of production originating from local companies that use well-known and popular fruits. While some imported brands are available in the Dominican Republic, they are less prevalent…

Honey is expected to register the highest current value growth, Consumers perceive honey as a healthy option as it is a natural product which is rich in minerals, vitamins and trace elements and as such honey continues to perform well. That being…

Retail sales of sweet spreads are seeing growth boosted in Colombia in 2023 by the expansion of consumption opportunities, with consumers increasingly choosing to use chocolate spreads as ingredients in the preparation of home-made desserts and…

Sweet spreads are expected to register a decrease in volume sales in 2023. Part of this decline is due to the widespread availability of smuggled sweet spreads in outdoor markets. Smuggling has increased significantly in recent years. Bolivia’s fixed…

Following impressive growth during the first half of the review period, chocolate spreads in Argentina saw retail volume sales contract in 2022. While the rate of decline has slowed, the category is poised to register another negative performance in…

Sauces, dips and condiments registered a low increase in retail volume terms in 2023, with supply levels normalising after the fluctuations seen in 2021 and 2022. The rising cost of raw materials has been an issue for manufacturers, as well as custom…

Powders are replacing cubes as the preferred format for stock in Peru. Consumers prefer powders for reasons of practicality, as they are perceived to be easier to use and dissolve. They also come in smaller pack sizes and can be bought in single unit…

Despite its maturity, ketchup is witnessing robust growth as lower-quality value offerings gain traction in the category. The surge in retail prices has created a favourable environment for domestic producers, supporting cheaper brands, such as B&B…