The performance of savoury snacks continues to be negatively affected by a diminished product offering due to limited access to costly foreign exchange to import raw materials and finished products. In 2018, popcorn, potato chips and savoury biscuits were among the worst performers, with volume sales declining following sharp falls in 2016 resulting from high reliance on imported inputs.
Other savoury snacks gained popularity during the review period, with mixed snacks being the most recent type that Venezuelan consumers embraced. These are packages that generally contain three types of snacks such as plantain, bacon and pork rinds.
Within a business environment characterised by high import costs, PepsiCo’s key success strategy can be described as focusing on production lines that use local inputs; in this way, the company seeks to bypass obstacles in the access to imported raw materials. Many international suppliers have cut credit lines and corporate headquarters no longer offer financing to their businesses in Venezuela.
PepsiCo Alimentos SCA is the leading company in savoury snacks by leading or dominating every category in which it competes. In potato chips, after retiring its Ruffles brand during the first quarter of 2017, PepsiCo relaunched Papas Jack’s, leveraging its strong brand recognition.
Sucesora de Jose Puig y Cia CA ranks second in savoury snacks thanks to its leadership of savoury biscuits, offering products under its Puig umbrella brand. One of its stronger products is Puig’s Soda Crackers which is considered a staple item in the majority of Venezuelan households and always in high demand among low-income consumers.
Domestic firm Alimentos Munchy CA occupied third place in savoury snacks by advancing one position in 2018. The company entered savoury snacks in 2006, taking advantage of a period of low competition that prompted high unit prices.
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Understand the latest market trends and future growth opportunities for the Sweet and Savoury Snacks industry in Venezuela 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 Sweet and Savoury Snacks research and analysis database.
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