Cooking ingredients and meals in 2024: The big picture
Throughout the review period, Ecuador has faced numerous social and economic challenges that have significantly influenced consumption patterns. Early in 2024, the country confronted unprecedented levels of insecurity, prompting the newly appointed government of Daniel Noboa to declare a state of armed conflict and implement a nighttime curfew.
Key trends in 2024
The unemployment rate in Ecuador stands at 5.2% in 2024 (according to Euromonitor data), but the country faces a significant issue with underemployment.
Competitive landscape
La Fabril SA and Danec SA lead cooking ingredients and meals in Ecuador, primarily due to their strong presence in edible oils, which is the largest subcategory within this industry. These companies have effectively leveraged economies of scale in the production and distribution of palm oil, their main product in edible oils.
Channel developments
The foodservice channel in Ecuador has encountered significant difficulties in recent years, driven by a combination of security concerns, nighttime curfews, and constrained consumer purchasing power. These factors have led to notable declines in sales across various foodservice categories.
What next for cooking ingredients and meals?
Pricing strategy is expected to be a critical factor in sales growth over the coming years. Ecuador’s macroeconomic landscape, combined with the government’s high debt levels and the planned closure of the ITT oil field following the 2023 national referendum, is likely to result in reduced public investment through 2025 and 2026, leading to further shifts in the national economy.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals 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.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Ecuador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Cooking Ingredients and Meals in Ecuador report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in Ecuador?
- Which are the leading brands in Cooking Ingredients and Meals in Ecuador?
- How are products distributed in Cooking Ingredients and Meals in Ecuador?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Ecuador?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in Ecuador
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Edible Oils in Ecuador
KEY DATA FINDINGS
Palm oil maintains dominance amid production challenges
Decreased inflation and shifting habits lower prices
Retailers expand olive oil offerings amid economic pressures
Palm oil faces perception challenges in coming years
Private label and retailers expected to drive competition
Sunflower oil poised for growth as price competitiveness increases
Meals and Soups in Ecuador
KEY DATA FINDINGS
Nestlé dominates soups with limited competition
Foodservice choices impact retail sales of meals and soups
Encebollado’s limited retail presence despite cultural popularity
Younger generations show reduced interest in multi-dish meals
Hard discounters pave the way for affordable chilled and frozen pizza
Ready meals poised to cater to specialist dietary preferences
Sauces, Dips and Condiments in Ecuador
KEY DATA FINDINGS
Lead contamination report affects sauces, dips, and condiments
Hard discount and private label gain ground but struggle in mayonnaise
Intensifying competition in the stock cubes market
Increased brand competition expected to drive growth
Packaging preferences differ across consumer groups
Health-conscious consumers present a growth opportunity
Sweet Spreads in Ecuador
KEY DATA FINDINGS
Hard discounters broaden access to chocolate spreads
Rising prices in jams and preserves to counter cost pressures
Nutella invests in brand awareness to strengthen market presence
Health and wellness trends challenge sweet spreads
Seasonal dependence of jams and preserves on the Christmas Period
Significant growth prospects for private label in sweet spreads
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
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 report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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