Sauces, dressings and condiments is anticipated to largely benefit from the COVID-19 pandemic in terms of current value sales. The main factor driving growth has been the increased consumption opportunities due to lockdown.
Industrias Venado, a player that has been around for more than 100 years, will remain the clear leader in sauces, dressings and condiments in 2020. This is mostly thanks to its leading brand Kris that specialises in table sauces.
Condiments are widely used in the preparation of many traditional dishes in Bolivia. Traditional meals tend to be full of flavour, thanks to the addition of stock cubes and powders and herbs and spices and monosodium glutamate.
After performing well in response to the pandemic, sauces, dressings and condiments is expected to see declining current values growth rates in 2021. As lockdown eases and consumers return to their pre pandemic lives, consumption opportunities in the home will decrease significantly compared with that seen in 2020.
Over the forecast period, local production of herbs and spices is anticipated to grow in Bolivia which in turn will create new jobs in the country with international institutions supporting the increase of local production. Currently, many herbs and spices are sold unpackaged as Bolivians have a strong tradition for using fresh, locally grown ingredients, and many consumers prefer to buy unpackaged herbs and spices from other grocery retailers.
Another factor driving growth over the forecast period will be consumers’ choosing to eat out at restaurants more frequently. After months of being forced to closed during lockdown, the foodservice industry is set to recover fast as eating out will be somewhat of a novelty at the start of the forecast period.
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Understand the latest market trends and future growth opportunities for the Sauces, Dressings and Condiments industry in Bolivia 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 Sauces, Dressings and Condiments research and analysis database.
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