Soup hugely benefitted from the pandemic, with double-digit current value and volume growth. Consumers stocked up on long-life soup in case of food shortages.
The soup market in Bolivia is highly concentrated, with two companies. Nestlé Bolivia, with its brand Maggi, and Unilever Andina Bolivia, distributor of Knorr, accounting for nearly half of value share.
In 2021, local brands continued betting on local flavours, in instant or dehydrated soup formats. The strategy adopted by these brands is to offer traditional local soups such as Chairo (dehydrated potato and wheat base soup) or Lagua de Choclo (corn-based soup).
Soup will register moderate value growth over the forecast period in what is a mature product area, with little room for growth. Instant and dehydrated soups are consumed as a quick lunch or dinner when time is limited.
As in most packaged foods, value sales of instant and dehydrated soups are threatened by illegal sales through informal retailers, with the leading brands most affected, as consumers recognise them and so smugglers tend to concentrate on those brands. To counteract the effects of the illegal trade, these brands regularly offer promotions such as two for the price of one, or offering a gift when consumers buy multiple packs.
In recent years, an increasing number of mini-markets have opened that offer healthier soups such as organic or vegan, with ingredients such as tofu, chickpeas or other vegetable proteins. These stores are mostly located in higher-income urban neighbourhoods and the trend is expected to grow over the forecast period.
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Understand the latest market trends and future growth opportunities for the Soup industry in Bolivia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Soups is the aggregation of dried (dehydrated formats), shelf stable and chilled and frozen soups. Includes: Ready-made, pre-packaged soup, regardless of format. Excludes: Liquid stocks and or stock/bouillon cubes. These are tracked in sauces, dressings and condiments, under cooking ingredients. Herbal soup mixes common in Asia are also excluded.See All of Our Definitions
This report originates from Passport, our Soup research and analysis database.
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