Retail volume sales of soup declined steeply for the third consecutive year in 2019. The weak economic situation in the country led many to suffer lower disposable incomes, turning them away from packaged varieties of soup.
Prices of soup, particularly dehydrated soup, the most popular format, and instant soup, are high in Uruguay and experienced steep increases in 2019 as manufacturers sought to shore up value sales in light of the steep declines in consumption. This is somewhat of a vicious circle, as higher prices inevitably lead to lower volume sales, particularly among lower-income demographics.
Uruguay has traditionally had only two or three months of hot weather, with temperatures during the rest of the year being much colder. Nevertheless, during the review period, the hot season was longer, thus shortening the colder periods.
Unilever del Uruguay continued to lead soup sales in Uruguay in 2019. Knorr is one of the company’s most popular brands as it has been available in Uruguay for many years and is the preferred option for the majority of consumers, particularly for dehydrated and instant soups.
Luis G Bonomi & Cía ranked second and extended its retail value share in 2019, mainly thanks to sales of its Sopa Monte Cudine brand. The product is available in a wide range of flavours and is positioned as offering something for all members of the family for consumption on a variety of occasions, being easy and convenient to prepare whether at home, at work or in school.
There is strong competition in instant soup and dehydrated soup, with several companies and brands and a wide variety of prices available in the market.
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This industry report originates from Passport, our Packaged Food market research database.