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Learn moreDec 2020
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The Guatemalan government was quick to respond to the threat of COVID-19, shutting down almost all non-essential activity in March 2020 and enforcing a nightly curfew for its residents. When lockdown was announced, some consumers rushed to stockpile essential goods, including breakfast cereals as well as rice, pasta and noodles.
Restrictions with a corresponding national lockdown were imposed swiftly in Guatemala beginning on 17 March when the country reported its first COVID-19 death. All public transport was suspended, although personal vehicles and taxis were still permitted to travel.
Domestic companies have fared better than others in Guatemala during the COVID-19 pandemic. In 2020, imported packaged food brands suffered with supply chain disruptions that were mainly caused by outbreaks in cases.
Pre-pandemic, the most important distribution channels in Guatemala were traditional open markets and independent small grocers. The emergence of COVID-19 in 2020 has forced the closure of traditional open markets for much of the year, which has benefited the sales of packaged food.
Starting in March 2020, non-essential businesses were mandated to close in Guatemala, including horeca outlets, restaurants and bars, with only takeaway and home delivery services available to curb the spread of COVID-19. As a result, volume sales via foodservice outlets are anticipated to significantly drop in 2020.
Following the anticipated strong retail value growth in 2020, packaged food is set to post much slower growth in 2021 as consumers destock and resume their daily lives which will lead to less time cooking. As businesses begin to reopen and people begin to return to work, they will likely be eager to eat out more often which will lower the demand for packaged food for home consumption, which was a huge proponent of growth in 2020.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food industry in Guatemala with research from Euromonitor's team of in-country analysts.
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If you're in the Packaged food industry in Guatemala, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Packaged Food market research database.
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.