Venezuelan consumers enjoy a wider brand variety in processed meat compared with categories such as breakfast cereals or soup. According to trade sources, the meat business in Venezuela poses low barriers to new entrants, so there is a great deal of rivalry and a relative abundance of brands available.
By contrast, processed seafood – which makes up a smaller share of overall processed meat and seafood – has suffered a loss of brands, especially in shelf stable tuna, due to the high cost of imported fish – which mostly comes from Ecuador. Fishing companies are not selling tuna to domestic manufacturers because it is more profitable to export it.
Venezuelan consumers do not regard processed meat as essential, so in times of economic constraint they do not hesitate to reduce their frequency of consumption. The prices of processed meat and seafood have not been under regulation like other processed meat, such as raw chicken and beef, so manufacturers have more frequently been transferring cost increases to the end price.
Plumrose Latinoamericana remained the leading company in processed meat and seafood in value terms in 2018, in spite of a fire in one of its manufacturing plants in early June 2018. The company holds a strong position in processed meat, relying on an extensive product portfolio which includes shelf stable, chilled and frozen products.
Overall, most products in processed meat and seafood are positioned in the standard and premium segments, with factors such as brand loyalty, quality and recognition gaining greater importance in consumers’ purchasing decisions. The proportion of red meat products is about 85%, with the remainder being poultry products.
Shelf stable seafood is comprised of canned tuna, sardines and clams, which used to be the only affordable protein option for many consumers. However, higher production costs have placed such products out of the reach of most Venezuelan households.
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Understand the latest market trends and future growth opportunities for the Processed Meat and Seafood industry in Venezuela with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Processed Meat and Seafood industry in Venezuela, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Processed Meat and Seafood research and analysis database.
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