Executive Summary

Nov 2019
PROSPECTS
Third consecutive year of declining consumption, with consumers turning increasingly to home-made soup

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.

High prices restrict sales and innovation

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.

Climate change negatively affects soup sales and may impact product development

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.

COMPETITIVE LANDSCAPE
Unilever del Uruguay maintains its lead

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 strengthens its share

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.

Competition varies between the categories

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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Soup in Uruguay

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Overview

Discover the latest market trends and uncover sources of future market growth for the Soup industry in Uruguay with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Soup industry in Uruguay, our research will save you time and money while empowering you to make informed, profitable decisions.

The Soup in Uruguay market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Soup in Uruguay?
  • What are the major brands in Uruguay?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • Are consumers moving from traditionally canned and dehydrated variants to more innovative chilled, frozen and UHT formats?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaged Food market research database.

Soup in Uruguay - Category analysis

HEADLINES

PROSPECTS

Third consecutive year of declining consumption, with consumers turning increasingly to home-made soup
High prices restrict sales and innovation
Climate change negatively affects soup sales and may impact product development

COMPETITIVE LANDSCAPE

Unilever del Uruguay maintains its lead
Luis G Bonomi & Cía strengthens its share
Competition varies between the categories

CATEGORY DATA

Table 1 Sales of Soup by Category: Volume 2014-2019
Table 2 Sales of Soup by Category: Value 2014-2019
Table 3 Sales of Soup by Category: % Volume Growth 2014-2019
Table 4 Sales of Soup by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Soup: % Value 2015-2019
Table 6 LBN Brand Shares of Soup: % Value 2016-2019
Table 7 Distribution of Soup by Format: % Value 2014-2019
Table 8 Forecast Sales of Soup by Category: Volume 2019-2024
Table 9 Forecast Sales of Soup by Category: Value 2019-2024
Table 10 Forecast Sales of Soup by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Soup by Category: % Value Growth 2019-2024

Packaged Food in Uruguay - Industry Overview

EXECUTIVE SUMMARY

Consumption of packaged food continues to decline
Consumers increasingly looking for healthier products
Cooperativa Nacional de Productores de Leche remains the leader in 2019
Modern grocery retailers gain share in packaged food in 2019
A return to low retail volume growth expected over the forecast period

FOODSERVICE

Sales to Foodservice
Significant declines in inbound tourism lead to lower sales to foodservice outlets
Healthier foodservice options becoming increasingly available
Consumers increasingly buying packaged food online
Category Data
Table 12 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Sales of Packaged Food by Category: Value 2014-2019
Table 18 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 19 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 20 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 21 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 23 Penetration of Private Label by Category: % Value 2014-2019
Table 24 Distribution of Packaged Food by Format: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format and Category: % Value 2019
Table 26 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 27 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources