Growth in retail sales of processed meat, seafood and alternatives to meat recorded a marked slowdown in 2021, However, sales remained well above pre-pandemic levels in 2021, following the year-earlier growth spike due to Coronavirus (COVID-19). Home seclusion and foodservice outlet closures meant more home-cooking for consumers in Latin America during the pandemic, with staples consequently seeing more demand in the retail sales channel.
This report comes in PPT.
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.
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.
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.
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.
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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