Cooking ingredients and meals in 2024: The big picture
In 2024, price remains a crucial factor for Guatemalan consumers. Inflation reached 9.
Key trends in 2024
The variety of products available in Guatemala continues to expand, with an increasing number of lower-cost brands as well as premium and imported options catering to affluent consumers. Although still niche, health consciousness is growing among higher-income consumers, who are increasingly scrutinising product labels for health claims and carefully reading ingredient lists.
Competitive landscape
In May 2023, Guatemala became the first country in Central America to host a food factory with Gluten-Free certification. Nestlé received certification for its Maggi Chicken Noodle Soup, assuring consumers that the product meets gluten-free standards and is safe for coeliac consumers.
Channel developments
While e-commerce continues to develop in Guatemala, consumers still prefer shopping in person. In 2024, the online channel's growth remains driven primarily by high-income consumers and the younger demographic.
What next for cooking ingredients and meals?
Cooking ingredients and meals in Guatemala is expected to become more specialised, offering options that cater to diverse consumer tastes. The market is witnessing increasing demand for unique products, especially those with international influences and exotic flavours.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Guatemala 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 Guatemala, 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 Guatemala 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 Guatemala?
- Which are the leading brands in Cooking Ingredients and Meals in Guatemala?
- How are products distributed in Cooking Ingredients and Meals in Guatemala?
- 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 Guatemala?
- 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 Guatemala
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 Guatemala
KEY DATA FINDINGS
Growth in bundle offers and volume packaging for value-oriented customers
Increasing demand for economical oil options
Rising olive oil prices amidst supply challenges
Premium product demand from higher-income consumers
Growing availability and popularity of avocado oil
Expansion of private label blended edible oils
Meals and Soups in Guatemala
KEY DATA FINDINGS
Growing popularity of international flavours in frozen foods among higher-income consumers
Convenience and inflation fuel demand for noodle cups
Limited growth for packaged meals due to accessibility of freshly prepared foods
Expansion of new ready-made products through PriceSmart
Increasing demand for ethnic flavours in ready-made meals
Rising interest in clean ingredients among health-conscious consumers
Sauces, Dips and Condiments in Guatemala
KEY DATA FINDINGS
Increased demand for ready-made sauces as consumers seek time-saving solutions
Stand-up pouches gain popularity as convenient, value-priced packaging
Innovation in powdered seasoning mixes enhances the home-cooking experience
Opportunities for smaller brands through unique and niche flavour offerings
Increased demand for clean label products among health-conscious consumers
Growth in private brand options as consumers look for cost savings
Sweet Spreads in Guatemala
KEY DATA FINDINGS
Expanding variety of flavours targets higher-income consumers
Preference for volume packaging among middle- and higher-income consumers; smaller sizes favoured by lower-income shoppers
Diet claims gain popularity in marmalades as health awareness increases
Gourmet honey presents growth opportunity inspired by Costa Rican model
Continued growth expected for pure nut butters
Efforts by imported brands to align with local culture expected to continue
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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