Soup consumption is generally deep rooted in Bolivia across all the socioeconomic segments. Throughout the country, but particularly in colder western regions, soup is often eaten as one of the three main meals of the day.
Nestlé Bolivia, who own Maggi, will remain the leading player in soup in 2020. Its position is primarily attributed to the long-standing presence of Maggi in Bolivia, which is well-recognised and trusted by consumers.
Instant soup manufacturers have adapted their products to local taste preferences, for example offering soups including popular ingredients such as rice, pasta and vegetables. To make instant soup a daily meal option, players have also introduced international flavours, such as asparagus, mushroom and prawn.
After seeing success in 2020 in response to the pandemic, soups is anticipated to record declining current value sales in 2021. The main cause of this will be due to the resumption of pre pandemic lifestyles which will lead to a lack of consumption opportunities in the home.
Over the forecast period, home-made soups will continue losing out to packaged offerings due to a lack of time as busy lifestyles resume post lockdown. This will therefore continue driving the current value growth of dehydrated soup which are a popular and quick meal amongst many Bolivians.
Over the forecast period, soup will continue to be threatened by a newer product that has been growing in popularity towards the end of the review period. Instant noodle cups and pouches are becoming increasingly popular in Bolivia and although being sold at similar prices as soup, are preferred by consumers as they are easier and faster to prepare.
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This report originates from Passport, our Soup research and analysis database.
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