The snacks market is set to record positive growth in 2023 in a continuation from 2022 due to the reopening of society and resumption of pre-pandemic activities. Nonetheless, poverty and income inequality have been exacerbated by the pandemic leading to a decline in disposable incomes.
The return to normality favoured the recovery of snack sales in 2022 and 2023, surpassing pre-pandemic levels in all snacks categories. The good performance in 2022 is explained by the return to the classroom by children and students and of employees to their places of work.
Consumers in Paraguay typically eat four meals per day: breakfast, lunch (which is considered the most important meal), merienda (consumed at teatime and usually consisting of a hot drink and a baked snack) and dinner. Nevertheless, mealtimes vary according to region and family.
Around 50% of the population of Paraguay is economically active, with the middle class representing around 23% of all households in 2023. Nevertheless, poverty and income inequality remain a major challenge, with Paraguay being one of the poorest nations in the region.
The condition of the roads in Paraguay varies depending on the region, with the most developed highways connecting Asuncion, Encarnacion and Ciudad del Este in the southern half of the country. Much of the country’s infrastructure requires improvement given that there are still thousands of miles of rural, unpaved roads, which are impassable during the rainy season.
The rebound in GDP growth in 2023 and the positive growth expected in the following years will play a key role in the consumption of snacks over the forecast period. Incomes are set to rise again with the normalisation of inflation rates, while increased urbanisation should enable more of the population to afford products beyond their primary necessities.
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Understand the latest market trends and future growth opportunities for the Snacks industry in Paraguay with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This report originates from Passport, our Snacks research and analysis database.
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