Latin America

2022 was an extremely challenging year for cooking ingredients and meals in Chile, and the economic effects experienced in the country during that period are still relevant in 2023. Despite consumers' anticipation of an improved economic landscape…

The production of olive oil in 2023 has been slowing in 2023 due to two crucial factors: adverse weather conditions and the increasing cost of fertilisers. Weather conditions have a significant impact on olive tree cultivation and subsequently on…

Inflation has presented numerous challenges for innovation in several categories, and soup is no exception. When inflation becomes an issue, the overall cost of production increases, which can have a significant impact on the performance of the…

As Chilean consumers experience a paradigm shift in dining habits and continue to embrace home cooking, they appreciate various condiments that help elevate dishes. As inflation impacts the purchasing power of Chileans and dining out in foodservice…

Northern Chile is not known for being an apicultural region due to its desert-like climatic conditions. However, a beekeeper from Pampa del Tamarugal has managed to produce honey; María Eliana Jofré hails from the town of La Huayca in the Tarapacá…

Sales of cooking ingredients and meals rose marginally in volume terms in 2023 as the home cooking trend experienced during the pandemic faded dramatically. Inflationary pressures and economic uncertainty stimulated growing price sensitivity which…

Price increases due to widespread inflation observed in 2022 continue in 2022, albeit at a slower rate. According to Euromonitor International's Voice of the Industry: Food Survey 2023, 90% of the food industry has been impacted by inflation and the…

Price increases of edible oils in Mexico stemming from widespread inflation seen in 2022 persist; however, these are generally slower in 2023. According to Euromonitor International's Voice of the Industry: Food Survey 2023, 90% of the food industry…

Health and wellness trends have been on the rise since the pandemic in Mexico. According to Euromonitor International's Voice of the Consumer: Lifestyles Survey 2023, 55% of consumers actively seek products containing healthy ingredients in their…

Health and wellness trends have been on the rise in Mexico since the pandemic. According to Euromonitor International's Voice of the Consumer: Lifestyles Survey 2023, 55% of consumers are looking for products with healthy ingredients in their food…

Several trends have emerged since the pandemic in Mexico and continue to shape consumers’ daily lives. According to Euromonitor International's Voice of the Consumer: Lifestyles Survey 2023, 55% of consumers seek products with healthy ingredients in…

While total current value sales growth for cooking ingredients and meals in Argentina in 2023 is set to be up markedly on the previous year, this is primarily because the country’s already chronically high inflation has skyrocketed due to the sharp…

Bolivia has managed to protect itself to a large extent from inflation by continuing to have a fixed exchange rate against the dollar. However, there has been challenges for the economy in 2023, with sharp falls in foreign currency reserves and this…

The Colombian economy began to recover in the second half of 2021, with growth reaching + 7.5% by the end of the year 2022. This was fuelled by fiscal stimuli registered in 2021, increased oil prices and a boost in food and beverages exports which…

While there is still economic uncertainty, inflationary pressure eases significantly in 2023, even falling into deflation territory for part of the year. This is seen particularly in edible oils, where prices fall after the highs experienced in 2022,…

The swift reopening of the Dominican Republic following the COVID-19 pandemic gave the economy a boost, with the influx of tourists reinvigorating businesses. The tourism sector is a significant contributor to GDP and so the rebound in tourism has…

Cooking ingredients and meals experienced strong growth during the COVID-19 pandemic as consumers spent more time cooking meals at home. Since the sharp spike in retail volume sales in 2020, retail consumption has gradually normalized, with consumers…

In 2023, inflation has begun to subside in Guatemala although retail price inflation continues to impact the basic food basket. Lower prices of some imported goods, regulatory interest rate policies and reduced agricultural production costs have…

Cooking ingredients and meals registered value sales growth across the market in 2023 due to rising prices while volume sales growth was modest. Consumers sought out lower priced options such as private label and stand-up pouches due to ongoing…

Cooking ingredients and meals slowed in volume terms in 2023 while value sales rose strongly due to rising inflation. Substantial unit price increases put significant pressure on household incomes, resulting in a more conservative approach to…

While value sales rose of cooking ingredients and meals rose in 2023, volume sales contracted. High inflation forced consumers to reduce the frequency of purchases. Nevertheless, while poverty and income inequality characterise Paraguay’s small…

Peru has been experiencing a sustained increase in prices since 2021, which slowed down but persisted in 2023.

In 2023, cooking ingredients and meals registered a modest growth in volume terms, as it faced various challenges. The weaker purchasing power seen in 2022 has continued in 2023 and is impacting negatively on demand, although mainly in sweet spreads…

To secure an adequate domestic supply of edible oils and keep prices for consumers at affordable levels, early in 2023 the Argentinian government renewed its subsidy agreement with members of industry representative group CIARA (Chamber of the Oil…

Edible oils is expected to register a slight decrease in volume sales in 2023. That being said, consumers have not been exposed to the same global inflationary pressures for edible oils as many other countries arising both from the war in Ukraine and…

Global prices of cooking oils have been rising since the COVID-19 pandemic began, with the price hikes intensified thanks to the war in Ukraine and the resultant regional shortage of sunflower oil. Though no such shortage was noted in Colombia during…

Both constant and current values are expected to fall, as edible oil prices see a gradual fall in 2023, from the highs of the previous year, that were mainly caused by shortages caused by the war in Ukraine. Not surprisingly, volume sales are…

Retail prices of edible oils continued to rise in 2023 due to the inflationary climate, although at a slower rate than was witnessed in 2022. External factors, such as the high price of commodities and the war in Ukraine, have impacted the supply…

In 2023, the price of edible oil in Ecuador has stabilized following the soaring prices witnessed in 2022. Global oil prices have decreased and the emergence of hard discount chains, such as Tuti, are fostering greater price competition, with other…

Stand-up pouches have become increasingly popular in the edible oil category in 2023. This stand-up pouch is becoming more prevalent in the landscape, as it is considered as a useful alternative to PET and glass bottles. Capullo from Naturaceites SA…

Peru has been experiencing a sustained increase in prices since 2021, with prices growing most rapidly in 2022 but continuing to rise in 2023. Although Peru is a country that has strong local brands, many of the final products and supplies are…

Pressure on households budgets is driving many Uruguayans to cross the border into Argentina and buy edible oils, alongside other grocery items, at a cheaper price. According to industry sources, edible oil retail prices are up to 70% cheaper in…

After several years of decline, soup in Argentina saw overall retail volume sales return to positive territory in 2022. While it looks set to record an improved performance in this regard in 2023, growth remains modest, partly due to strong…

Meals and soup are expected to register a decrease in volume sales in 2023. In particular, soup is expected to register a steep volume decline. Part of this decline is due to the widespread availability of smuggled soup in outdoor markets. Smuggling…

Sales of ready meals are declining in retail volume terms in 2023, with people returning to their normal routines and spending more time outside of the home thanks to the lifting of COVID-19 restrictions. This is seeing a shift back towards…

Meals and soups is expected to register both current value and volume growth in 2023. With society fully opened up post pandemic, and consumers leading busy lives, they appreciate the convenience of meals and coups, with ready meals in particular…

Meals and soups continues to be impacted by rising prices in 2023 as inflation remains high, resulting in double-digit current value growth. Since 2022, increases in the cost of raw materials, shipping costs, labour wages and energy have led to…

Dry soup is a prominent category within the packaged food industry in Ecuador. Nestlé Ecuador is the leading player due to its popular and affordable Maggi brand, which has an extensive portfolio focused on cream and traditional soups and newer…

In 2023, meals and soups witnessed a moderate lift in retail volume sales as consumption of dry soups increased. Standard brands, including Maggi, Malher and Knorr, continue to characterise soup in 2023 with similar products, flavours and unit…

Growth in the meals and soups category has been driven by value rather than volume. With a marked rise in prices generally, volume sales have contracted. This has been a particularly prominent feature of categories like this, which are usually not…

Dry soup remains the largest category in sauces, dips and condiments, in current value terms. The reduction of imports, largely from Argentina, is hindering retail volume sales in 2023. Category leader Unilever del Uruguay SA leads sales of dry soup…

Sauces, dips and condiments has recorded another solid performance in retail volume terms in 2023, with growth expected to be up slightly on 2022. The resumption of pre-pandemic routines has helped to lift overall demand, in that as the pace of life…

Sauces, dips and condiments are expected to register healthy current value and volume growth in 2023. With increasing inflationary pressure, consumers look to cook at home, with cooking ingredients and condiments especially performing well. That…

Remote and hybrid working models are shifting consumption habits towards more flexible patterns of eating at more convenient times, with the impact of rising living costs on consumer confidence and household spending levels also supporting these…

The variety of formats and brands available for pasta sauces has increased over the past few years, with newer options including Kern’s 435g jars, Naturas 430g jars, Great Value and Rao’s 680g jars; Sabemas stand-up pouches; Del Monte and Contadina…

Ketchup continues to lead in cooking and table sauces in the Dominican Republic. Brands are innovating by introducing stand-up pouches that provide greater convenience for consumers, such as from the likes of Gourmet, Linda, Heinz and Famosa.…

Private label continues to gain prominence within sauces, dips and condiments. Ecuador's largest retailer, Corporación Favorita, has a range of private label options including Akí and Supermaxi, as well as La Original, which is the cheapest option…

Despite its maturity, ketchup is witnessing robust growth as lower-quality value offerings gain traction in the category. The surge in retail prices has created a favourable environment for domestic producers, supporting cheaper brands, such as B&B…

Powders are replacing cubes as the preferred format for stock in Peru. Consumers prefer powders for reasons of practicality, as they are perceived to be easier to use and dissolve. They also come in smaller pack sizes and can be bought in single unit…

Sauces, dips and condiments registered a low increase in retail volume terms in 2023, with supply levels normalising after the fluctuations seen in 2021 and 2022. The rising cost of raw materials has been an issue for manufacturers, as well as custom…