In 2020, consumer demand for processed fruit and vegetables booms in Guatemala due to several factors related to COVID-19. Most importantly, shortages and distribution issues with fresh fruit and vegetables increased consumer propensity to purchase processed fruit and vegetables.
Frozen processed potatoes and shelf stable beans are expected to benefit most from increased demand and the COVID-19 pandemic in 2020. Frozen processed potatoes experienced the most dynamic growth in 2019, benefitting from being a popular choice as a side dish for home-cooked burgers.
Due to the scarcity from COVID-19 in fresh fruit and vegetables with the closure of local markets, several processed fruit and vegetables brands are looking to fill the demand in cities where these markets were typically operated. Brands have focused on their product availability in modern grocery retailers, where consumers have been increasingly using delivery services such as Hugo and Glovo in 2020.
Following the anticipated year of strong current value and retail volume growth for processed fruit and vegetables in 2020, the current value growth rate is expected to fall drastically in 2021, possibly even posting a decline. This is because fresh fruit and vegetables are generally favoured in Guatemala, and consumers are expected to return to these purchasing patterns once local markets reopen and prices stabilise post-lockdown.
In the forecast period, frozen processed potatoes is set to post the highest CAGR in current value terms. Indeed, frozen potatoes tend to be a popular choice for side dishes in the home, which will support growth.
Leading player Alimentos Kern de Guatemala will likely remain the strongest company in terms of investment in advertising campaigns in the forecast period. It often runs mass media campaigns to promote its Ducal beans in Guatemala.
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Understand the latest market trends and future growth opportunities for the Processed Fruit and Vegetables industry in Guatemala with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Processed Fruit and Vegetables research and analysis database.
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