Cooking ingredients and meals in 2024: The big picture
Despite significant progress in controlling inflation, cooking ingredients and meals in Peru is seeing growth in many segments driven primarily by price increases in 2024, rather than by sales volume expansion. This ongoing trend is exacerbated by the fact that incomes have not kept up with the rising costs of goods and services in recent years.
Key trends in 2024
Despite ongoing economic uncertainty and a general trend towards more cost-effective products, polarised consumption is evident in the market. While many consumers are gravitating towards cheaper options, there remains a distinct niche willing to pay a premium for high-quality and healthier products.
Competitive landscape
Private label players are somehow struggling to fully capitalise on trends pushing Peruvians to low-cost options. While shoppers are increasingly comparing prices across various sources, private labels often fall short of offering the lowest prices.
Channel developments
Amid rapid expansion and growing market share of modern retail channels, traditional outlets like small local grocers and market stalls continue to hold a crucial role in cooking ingredients and meals in Peru. These traditional venues persist in their importance due to several unique advantages that modern stores have yet to fully replicate.
What next for cooking ingredients and meals?
Cooking ingredients and meals in Peru is set to show positive growth in both volume and value terms during the forecast period. Emerging segments such as ready meals and some members of sweet spreads will key growth drivers, while traditional product areas like soup and some within edible oils will see more moderate development.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Peru 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 Peru, 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 Peru 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 Peru?
- Which are the leading brands in Cooking Ingredients and Meals in Peru?
- How are products distributed in Cooking Ingredients and Meals in Peru?
- 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 Peru?
- 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 Peru
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 Peru
KEY DATA FINDINGS
Price cuts aim to push consumption in vegetable and seed oils
Olive oil continues to lose ground
Private label and low-cost options gain ground
Palm oil faces continued public scrutiny over the forecast period
Health trends and increased innovation will drive category expansion
Retailer ranges set to strengthen their position in coming years, while Alicorp likely to remain on top
Meals and Soups in Peru
KEY DATA FINDINGS
Practicality drives growth in ready meals
Soup sees recovery in 2024
Meals and soups remains hindered by fragmentation
Prepared salads expected to see further growth over the forecast period
Attractive prices and quality flavours will be key for category expansion
Meal kits may rise during forecast period
Sauces, Dips and Condiments in Peru
KEY DATA FINDINGS
Economic stress continues to impact consumption trends
Alicorp maintains overall leadership, while MSG benefits from player efforts
Local player Lopesa expands its presence
Consumption to remain polarised over the forecast period
La Bodeguita set to increase share in traditional channel, while Alicorp will remain overall category leader
Innovative flavours will expand as natural trend gathers pace
Sweet Spreads in Peru
KEY DATA FINDINGS
Health trends rise in jams and preserves in 2024
Molitalia remains overall category leader
Nut and seed based spreads leads growth
Sugar-free and other health-positioned variants will drive growth in sweet spreads, with honey set to rise further
Niche brands to expand in coming years
Private label likely to gain ground
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?
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This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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