Packaged Food in Chile

Packaged food sees healthy growth

Chile’s healthy economy and falling unemployment supported strong growth in packaged food in 2018. With consumers leading increasingly busy lives there was growing demand for convenient products towards the end of the review period, with ready meals seeing particularly strong retail volume growth, while in other areas such as vegetables ready-to-cook options proved popular.

Premiumisation helping to drive value growth

With Chile’s packaged food industry being relatively saturated there was a growing premiumisation trend towards the end of the review period, supported by rising disposable income and falling unemployment. This was seen in a number of categories with companies looking to add value to their ranges, such as the introduction of gourmet burgers and organic fruit and vegetables.

Local players and private label see strong performances

Global giant Nestlé maintained its lead in packaged food in 2018 thanks to its wide portfolio of popular products. However, the company continued to lose share in 2018 with it facing growing competition from local players such as Watts SA and dairy producer Soprole SA.

Modern grocery retailers continue to dominate

Hypermarkets and supermarkets continued to dominate distribution in 2018. The discounters channel also continued to perform well with leading retailer Bodega ACuenta (Walmart Inc) continuing its expansion.

A stable economy set to support ongoing growth

Although Chile’s economy is projected to see slower growth over the forecast period it is nonetheless expected to remain relatively stable, with this expected to support ongoing growth within packaged food. Dairy is projected to see dynamic growth with consumers continuing to shift to packaged options, while the health and wellness trend will likely also be key to growth with consumers increasingly looking for natural and nutritious products such as cheese.

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