After declining in 2018 and 2019 amidst worsening economic conditions, processed meat and seafood retail volume sales look set to grow strongly over 2020 as a whole. The turnaround is partly the result of panic buying and stockpiling that occurred in March and April after the Argentinian government moved to contain the COVID-19 pandemic via the imposition of a nationwide lockdown.
Shelf stable seafood and shelf stable processed red meat and poultry are expected to record the fastest growth in retail volume and current value terms in 2020. Growth rates for all three categories have been lifted by the fact that sales are emerging from a comparatively low base.
Private label have long accounted for a larger share of processed meat and seafood retail current value sales than any single branded manufacturer in Argentina. Major supermarkets and hypermarkets chains like Coto, Jumbo and Carrefour offer extensive private label lines comprising products that are widely perceived to compare favourably with branded alternatives in terms of quality, but retail at more competitive prices.
Processed meat and seafood retail volume sales are expected to decline in 2021, in part because the anticipated easing of the COVID-19 pandemic should result in Argentinians spending less time at home. Moreover, economic conditions are projected to improve as the threat of the virus recedes.
Frozen processed poultry is expected to be the most dynamic performer in retail volume growth terms over the forecast period, followed by frozen meat substitutes. While growth rates for both categories will be bolstered as sales continue to emerge from a relatively low base, their expansion will also be fuelled by rising health-consciousness among Argentinians.
As Argentinians start to regularly eat out again in line with improvements in epidemiological and economic conditions, processed meat and seafood is expected to see foodservice volume sales rebound strongly in 2021. Recovery should also be supported by the return of inbound tourists.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood industry in Argentina 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 Meat and Seafood research and analysis database.
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