The COVID-19 lockdown restrictions caused sales of frozen pizzas to rise, particularly in the first half of 2020, as more consumers spend time at home and seek out accessible indulgences. With the foodservice industry closed during the lockdown period, and no options available for food delivery or take-out, frozen pizza gained popularity as an option for indulgence and as a treat for the family, particularly with children and teenagers.
A range of new product developments have generated growth for a number of companies in Peru in 2020. For example, Casa Verde by Danper Trujillo introduced tamales in a variety of flavours including quinoa, corn and artichoke.
Ready meals will remained a niche in 2020, representing marginal share of overall packaged food. There are areas of ready meals that have not been explored such as chilled lunch kits, chilled pizza, chilled ready meals and dinner mixes.
Ready meals are likely not to see widespread distribution in Peru into the forecast period. Cooking with fresh ingredients, instead of purchasing ready meals, is cheaper in Peru and unit price will remain extremely important to consumers in coming years, especially for medium and large families, which comprise the majority of Peruvian households.
New products are expected to continue to enter ready meals into the forecast period, with innovations including frozen ready meals or shelf stable ready meals based on quinoa as well as tamales. Interestingly, most manufacturers are not specifically dedicated to producing ready meals; it is usually an extension of their core business, such as Pesquera Hayduk, which is mainly dedicated to shelf stable seafood, or DanPer Trujillo, which originally was an agricultural player.
Peruvians are expected to continue to cook their meals at home on a daily basis into the forecast period, using fresh ingredients which they also purchase every day from traditional small grocery retailers or market stalls. More affluent families will continue to purchase weekly from supermarkets or hypermarkets, which have a large variety of fresh products such as fruit, vegetables, meat, poultry or seafood.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Ready Meals industry in Peru 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 Ready Meals industry in Peru, 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 Ready Meals research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page