Cooking ingredients and meals in 2024: The big picture
In 2024, Uruguay’s GDP rose by 3.5% and purchasing power continued to recover, with salaries increasing above inflation.
Key trends in 2024
Sales of cooking ingredients and meals in 2024 also benefited from the devaluation of the exchange rate in Argentina at the end of 2023. During 2023, local sales in Uruguay were impacted by lower prices in the neighbouring country, with many consumers crossing the border to make purchases.
Competitive landscape
The national company Cía Oleaginosa Uruguaya SA (COUSA) continues to lead cooking ingredients and meals in Uruguay in 2024 thanks to its solid position in edible oils with its Optimo and Delicia brands. The company is also strong in mayonnaise, offering a wide product portfolio that includes a vegan option which was introduced during the review period.
Channel developments
Although small local grocers lead sales of cooking ingredients and meals in Uruguay, modern grocery retailers are increasingly attracting consumers with their cheaper and good-quality private label portfolios, particularly in categories such as edible oils, jams and preserves, tomato pastes, purées, and pasta sauces. Leading chains such as Tienda Inglesa, Tata, and Disco have significantly invested in improving their portfolios in recent years.
What next for cooking ingredients and meals?
Cooking ingredients and meals are expected to record positive growth in retail volume terms over the forecast period, driven by the recovery of purchasing power and less cross-border shopping following the strong exchange rate devaluation in Argentina at the end of 2023. Healthy trends are expected to gain traction in the short term, with companies continuing to improve their portfolios with healthier alternatives, as recently seen by COUSA with a new vegan mayonnaise and the Chilean food-tech company NotCo’s launch of NotMayo.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Uruguay 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 Uruguay, 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 Uruguay 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 Uruguay?
- Which are the leading brands in Cooking Ingredients and Meals in Uruguay?
- How are products distributed in Cooking Ingredients and Meals in Uruguay?
- 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 Uruguay?
- 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 Uruguay
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 Uruguay
KEY DATA FINDINGS
Falling prices drive volume growth in 2024
Less cross-border shopping as prices increase in neighbouring Argentina
Substantial price increases impact olive oil sales in 2024
Cost-effective corn oil set to gain ground
Olive oil to recover from its poor performance
Private label growth as it offers a cost-effective alternative to branded products
Meals and Soups in Uruguay
KEY DATA FINDINGS
Purchasing power recovery drives growth of frozen pizza following years of decline
Lack of brand availability and innovation impacts dried ready meals in 2024
Supply shortage and unhealthy image result in decline for dry soup
Growth potential in the underdeveloped frozen ready meals category
Food kits set to remain negligible
Unilever del Uruguay to lose its leadership to Frigorifico Tacuarembo
Sauces, Dips and Condiments in Uruguay
KEY DATA FINDINGS
Growth supported by lower prices in 2024
Price increases in neighbouring Argentina reduce cross-border shopping
Unilever del Uruguay maintains its lead in 2024
Health trend to gain traction
Gibur acquired by Morixe
Leading small local grocers to lose ground to modern retailers offering private label
Sweet Spreads in Uruguay
KEY DATA FINDINGS
Less cross-border shopping drives volume growth in 2024
Demand for jams and preserves is driven by the affordability of thin plastic containers
Low level of innovation, with companies expanding into other categories
Local companies to maintain their lead, supported by loyal consumers
Apicultural Society’s campaign to boost honey consumption
Chocolate spreads to record the most dynamic growth
The following categories and subcategories are included:
Cooking Ingredients and Meals
-
- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
-
-
- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
-
- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
-
- Chilled Pizza
- Frozen Pizza
-
- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
-
-
-
-
- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
-
-
-
- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
-
- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
-
- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
-
-
- 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.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!