Processed Meat, Seafood and Alternatives to Meat in Latin America

Delivery

This report comes in PPT.

Key Findings

Growth spikes due to the pandemic

Home seclusion and foodservice closures saw sales of processed meat, seafood and alternatives to meat record very strong growth in 2020, when COVID-19 arrived in the region. These products were being increasingly used in home-cooking, helping to drive their sales across the region. Although growth slowed considerably in 2021, retail sales levels in this year remained well above where they were prior to the pandemic.

Mexican consumers look for natural products

There is a growing interest in natural products without artificial ingredients in Mexico, bolstered by the pandemic strengthening the health and wellness trend. This interest in natural products is influencing new product development, with companies looking to present a fresh and healthy image for their product lines. For example, Grupo Lala’s Lala Plenia line of chilled processed meat which offers turkey ham and sausages using 100% turkey meat with no artificial preservatives or added hormones.

Growth for e-commerce

E-commerce recorded strong growth during the pandemic, particularly in Chile and Argentina, as consumers looked to avoid shopping in crowded stores. In Argentina, the value for money that e-commerce offers also attracted consumers at a time of widespread economic hardship. Independent small grocers and supermarkets/hypermarkets remain the biggest distribution channels.

Mexico’s Black Octagons

A number of countries in the region are introducing new regulations calling for products high in fat, sodium, calories etc to have this clearly labelled on their packaging. This includes Mexico’s Black Octagon system. Industry players in these countries are therefore already reformulating their products in order to lower levels of fat, sodium etc.