Latin America

Sweet spreads is seeing positive gains in both value and volume terms in Mexico in 2024, with value sales supported by a stabilisation in unit prices. Notably, in 2023, significant price hikes pushed up value but suppressed volume at the same time.…

Health and wellness trends are noted in sauces, dips and condiments in Mexico in 2024, which are influencing new formulations in popular products. Indeed, consumers becoming increasingly interested in the ingredients of foods and opting for healthier…

Meals and soups is seeing slightly stronger volume sales in Mexico in 2024, compared to 2023. This is attributed to the fact that price hikes were significant in 2023, supporting stronger value sales, but suppressing potential volume. In 2024, price…

Edible oils continues to face challenges in Mexico in 2024, resulting in ongoing declines in both value and volume sales. However, after a challenging 2023, when edible oil prices rose significantly above general inflation rates, the situation is…

Cooking ingredients and meals in Mexico in 2024 is being influenced by the economic situation in the country, with a low GDP indicating a struggling economy. Despite 2024 being an election year in Mexico, which was expected to bring a solid rebound…

Despite lower levels of inflation in 2024, many product areas within staple foods continued to experience value growth that was bolstered by unit prices rather than an expansion of retail volume sales. This outcome was the result of stagnant incomes…

Economic instability and household budget concerns led to fluctuations in retail demand during 2024, dampening purchasing power and shaping consumer purchasing habits. Consequently, the staple food landscape experienced a decline in retail volume…

Despite being a relatively small segment compared to rice and pasta, noodles experienced notable growth in 2024, particularly in their cup presentation. This product area attracts innovation and new entrants to the market, especially in contrast to…

In 2024, rice, pasta, and noodles benefited from an increasing preference for home cooking due to the rising cost of living and stable prices during the reviewed period. Despite the cost-effectiveness of larger packs, consumers continue to prefer…

The impact of inflation has been notable across various product areas, especially in processed meat and processed poultry, both experienced a decline in retail volume while still achieving healthy growth in current value terms. In contrast, the…

In 2024, processed meat, seafood, and alternatives to meat saw retail value sales grow by 5% in current terms, while retail volume growth was positive at 3%. Although the category of processed poultry—shelf-stable, chilled, and frozen—remains small,…

Despite ongoing economic challenges and the perception that frozen potatoes are not staple products, this product area showed a slight recovery in 2024. This resurgence can be attributed to frozen potatoes' convenience, particularly appealing to…

Consumption of processed fruits and vegetables has declined in 2024, primarily due to rising prices that have seen two-digit growth over the review period. Many consumers perceive fresh produce as tastier and more healthful compared to frozen or…

The Dominican Republic enjoys increasing economic freedom and political stability, although relations with its neighbour remain stressed. Economic momentum is set to recover strongly and inflation is now within its target range, but the external…

Due to an ongoing uncertain economy, consumers are increasingly seeking lower price points. While retail value sales grew by 3% in 2024, volume was much lower at under 1%. While prices stabilised in 2024, this was insufficient to trigger significant…

The breakfast cereals landscape underwent changes in 2024, driven by intensified competition from private labels and competition from alternative breakfast options, including bread. Retailer-affiliated private label lines have gained substantial…

Following a difficult 2023, which was impacted by warm temperatures and a virtually absent winter, in 2024 baked goods recorded positive retail value growth of 3%, and retail volume growth of 2%. This improvement is largely attributed to cooler…

The baked goods industry faced significant challenges due to sharp increases in raw material, labour, and energy costs, resulting in a substantial reduction in profit margins in 2024. This led to a staggering 30% decline in production and sales for…

Sweet spreads in Perus is seeing health and wellness trends spread through jams and preserves in 2024. The push towards healthier options, coupled with the mandatory implementation of the labelling law, has prompted manufacturers to create sugar-free…

Honey is predicted to be the most dynamic performer within sweet spreads in Costa Rica in current value growth terms in 2024, and also looks set to post above-average growth in retail volume sales. Rising health-consciousness among the population has…