The rate of growth in retail current value sales of savoury snacks will accelerate modestly during 2021, with tortilla chips remaining the top performer. Despite the pandemic, retail current value sales of savoury snacks grew during 2020, as home-bound consumers snacked more – more than making up for a decline in on-the-go consumption and impulse purchasing.
Evercrisp Snack Productos de Chile AS will remain the leading player in savoury snacks during 2021, with twice the retail value share of its closest rival – ICB SA. Evercrisp Snack Productos de Chile AS is the local distributor of such PepsiCo Inc brands as Lay’s, Evercrisp, Doritos, Cheetos, Cheezels, Mom’s, Chis Pop, Gatolate and Cabritas.
Traditional grocery retailers lost significant retail current value share to modern grocery retail outlets – mainly supermarkets and hypermarkets – during 2020, as COVID-19 led many local consumers to make fewer grocery shopping trips. 2020 also e-commerce emerge as a small but significant distribution channel for savoury snacks, as consumers shopped online in greater numbers due to both COVID-19 restrictions and a fear of contagion.
The rate of growth of retail current value sales of savoury snacks will slow during 2022 – as the impact of the post-pandemic rebound fades – and remain relatively modest during the forecast period as a whole. Moreover, many local consumers will remain extremely price sensitive in the aftermath of the economic shock of the pandemic, which could lead to more intense price competition in savoury snacks.
Researchers from the Catholic University of Chile have developed technology to make healthier snacks that better conserve nutrients and maintain their original colour, such as potato chips that have less fat and salt but are just as tasty as traditional potato chips. Empresas Orizon has initiated a pilot project that is attempting to utilise this technology.
Having made a significant breakthrough during 2020 and consolidating its position as a small but expanding distribution channel for savoury snacks during 2021, e-commerce will continue to grow in importance during the remainder of the forecast period. Local consumers, particularly younger ones, will become ever-more comfortable shopping for groceries like savoury snacks online, while retailers will continue to invest in the country’s e-commerce infrastructure – particularly last-mile delivery – leading to faster delivery times and reduced delivery costs.
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Understand the latest market trends and future growth opportunities for the Sweet and Savoury Snacks industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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