Yoghurt and Sour Milk Products in Peru

PROSPECTS

On-the-go trend underpins yoghurt increase

Yoghurt registered the largest growth rate within all dairy products due to the fact that most people consider yoghurt as an excellent source of nutrients being positioned as a healthy beverage or food. This combined with the fact that everyday lifestyles are becoming more hectic due to traffic congestion as well as work, school and university being more demanding, has created more demand, since the product is easy to grab and go.

Demand for HW yoghurt is increasing rapidly

Demand for probiotic yoghurt or for those products with reduced fat and/or reduced sugar has increased rapidly. This is because consumers recognise the benefits that probiotics have for health, improving the digestive system, being used regularly to prevent gastric disorders or constipation.

Fruited and flavoured yoghurt are preferred by consumers

Peruvian consumers prefer flavoured or fruited yoghurt, and the last three years has seen the expansion of products that include honey, granola or cereals, for both adults and children. Despite these innovations, the flavours they prefer remain the same, mainly strawberry, vanilla and peach, so innovations typically revolve around these same varieties.

COMPETITIVE LANDSCAPE

Grupo Gloria SA enjoys sustained leadership over time

Grupo Gloria SA has led the yoghurt category across the review period with around three quarters of total retail value. The company has reached this large presence through constant innovation, mainly in flavours, and having representation in all distribution channels due to a wide distribution network managed by Deprodeca SA, a company within the same corporate group.

Wide distribution is a key success factor

In order to successfully compete in Peru, companies need to have a large distribution network to reach small independent grocery stores which form the main channel, while convenience stores are rapidly spreading. At the same time, supermarkets and hypermarkets will keep gaining share in distribution through constant price reduction promotions, but the traditional channel will retain its leadership through small independent grocery stores.

Premium brands gain share

The main difference between premium and economy brands are the flavours, because premium products can be found in exotic flavours such as golden berry or coffee. In addition, premium brands are only available through supermarkets and hypermarkets.

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