In 2024, Uruguay’s GDP rose by 3.5% and purchasing power continued to recover, with salaries increasing above inflation.
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.
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.
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.
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.
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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.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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