In 2020, economic uncertainty amplified by the pandemic continued to impact consumers’ buying habits. Due to budgetary concerns, some Argentinians switched from higher priced categories such as filled biscuits and chocolate coated biscuits to cheaper options like cookies and plain biscuits.
Protein/ energy bars will see the most dynamic current value growth in 2021 after being severely impacted as a result of the COVID-19 pandemic in 2020. This comes as no surprise as once gyms and sports facilities reopen properly, many consumers will be eager to re-join and get back into shape, especially given the months of a sedentary lifestyle during lockdown.
After being negatively impacted by the COVID-19 pandemic in 2020, PepsiCo Snacks Argentina will see a strong recovery from as soon as 2021. In 2020, the company registered a poor performance as healthier alternatives such as high fibre biscuits were more impacted compared with regular sweet biscuits.
The post-pandemic outlook for the forecast period is not too promising as the economic impact of the COVID-19 pandemic may see many consumers continue to reduce spending on food as disposable income falls. In value terms, consumers may well eschew premium health and wellness-claim snacking products by seeking value for money.
Over the forecast period, the fierce competition between sweet biscuits and breakfast cereals is expected to intensify. Argentina has one of the highest per capita consumption rates of sweet biscuits in the world.
E-commerce will continue to gather pace over the forecast period, having largely benefited from the COVID-19 pandemic in 2020. Retailers such as Coto, Jumbo and Carrefour will continue to invest in an omnichannel strategy resulting in more sophisticated and appealing e-commerce offerings.
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Understand the latest market trends and future growth opportunities for the Sweet Biscuits, Snack Bars and Fruit Snacks industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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