Retail value and volume growth of spreads both increased in 2017 after significant slowdowns in 2016, driven by a reduction of consumption frequency, given the economic contraction in Ecuador. Nevertheless, spreads did manage to achieve retail value growth in 2016, and this increased in 2017.
Procesadora Nacional de Alimentos remained the leading company in spreads with a 15% retail value share in 2017. This domestic company, through its Mermelada de Fruta Gustadina brand, is the only player among jams and preserves which has a wide distribution in traditional grocery retailers. Its wide availability, good brand and quality perception helped the company maintain its leading position in 2017.
Spreads is expected to continue its positive trend, with a retail value CAGR of 3% at constant 2017 prices over the forecast period, lower than the equivalent CAGR of 9% witnessed over the review period. The main reason behind the decline is the conservative forecasts of the main players, which are negatively affecting marketing investments and expansion plans, driven by the uncertainty of the political and economic scenarios, which may threat future growth.
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Understand the latest market trends and future growth opportunities for the Spreads industry in Ecuador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Spreads research and analysis database.
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