Sales of dairy products and alternatives have improved in 2024 due to a drop in contraband products from Argentina. Despite this, the consumer base for dairy products and alternatives remains small, comprised of Paraguay’s growing middle class and inhabitants of large cities who are better able to afford the higher prices of packaged dairy and appreciate their convenience.
During 2023, sales of some dairy products such as cheese contracted due to the high levels of contraband from Argentina, where prices were notably lower compared to Paraguay due to the disparity in exchange rates. However, the situation changed completely during 2024 after Javier Milei was elected Argentina’s new president at the end of 2023 and devaluated the exchange rate in Argentina.
Consumers in Paraguay typically eat four meals per day: Breakfast, lunch (which is considered the most important meal), merienda (consumed at teatime and usually consisting of a hot drink and a baked snack) and dinner. Nevertheless, mealtimes do vary according to region and family.
Younger mid- and high-income consumers are boosting demand for plant-based dairy as well as new high protein dairy products, some of which they have become familiar with from travelling to other countries in Latin America, the US and Europe.
The condition of the roads in Paraguay varies depending on the region, with the most developed highways connecting Asuncion, Encarnacion and Ciudad del Este in the southern half of the country. Much of the country’s infrastructure requires improvement given that there are still thousands of miles of rural, unpaved roads, which are impassable during the rainy season.
Illegal trade will likely continue to present a challenge to formal sales of some dairy products and alternatives over the forecast period, primarily in the case of essential and profitable products such as cheese. It is expected that more controls along the borders will be introduced to address this issue.
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Dairy Products and Alternatives
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