The country’s GDP is expected to climb 3.6% in 2025, placing the country among the strongest economies in the region. In this regard, the World Bank (WB) updated its global economic projections and placed Paraguay as the second fastest-growing economy in 2025, behind Argentina. Consequently, income levels are rising and living standards are improving once more, resulting in further expansion of the middle class and a further erosion of poverty.
Despite the warm climate, ice cream is not a popular choice of snack in Paraguay. Nevertheless, ice cream is set to register the strongest performance in snacks in 2025. The expanding base of middle- and upper-income consumers has helped to boost demand over the review period, as have significant investments of ice cream players in product variety, the expansion of freezers in convenience stores, and the opening of several new ice cream retailers. Impulse ice cream, which is mostly sold in convenience stores and kiosks, is likely to make the most progress fuelled by the resounding expansion of the convenience store chain, Biggie. In 2024, the company had achieved a chain of 230 stores, with 30 openings along during the year. Biggie has a strong presence in the ice cream business, surpassing both modern grocery retailers and small local grocers in terms of outlets. Moreover, unpackaged ice cream sales will perform well thanks to the growing proliferation of ice cream retailers.
Arcor is the leading snacks company in Paraguay thanks to its solid position in confectionery. The company remains a key player in sugar confectionery, being one of the world’s leading producers. The company offers a wide portfolio such as pastilles, chewing gum, bubble gum, gummies, jellies, chews and medicated confectionery. Arcorpar also plays a key role in developing new acid flavours and formats in gummies with its Mogul brand, while in chocolate confectionery it competes across all categories with a value-price positioning, which favours a massive scale of operations. The company is also performing well in sweet biscuits with its Tortuguita brand, as well as Saladix in savoury biscuits, while the company leads in snack bars with Cereal Mix.
Snacks sales are mostly driven by small local grocers, (despensas) where confectionery is often bought for on-the-go consumption. These outlets have wide distribution in urban centres as well as in the interior of the country. Most of the population visit small local grocers to buy daily supplies. Most small local grocers buy their supplies from outdoor markets and remain important because they offer goods on credit to customers who are known to them. Consumers who buy snacks in convenience stores, on the other hand, tend to acquire mid-priced or even premium brands.
Ongoing strong GDP growth over the early years of the forecast period, together with low inflation rates, will play a key role in the consumption of snacks over the forecast period. Purchasing power and employment are set to rise while increased urbanisation should enable more of the population to afford products beyond their primary necessities.
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