Dairy Products and Alternatives in Peru

Dairy Products and Alternatives in Peru
Euromonitor International
September 2022

List Of Contents And Tables

DAIRY PRODUCTS AND ALTERNATIVES IN PERU
EXECUTIVE SUMMARY
Dairy products and alternatives in 2022: The big picture
Imported powdered milk prohibited as an ingredient in the production of evaporated milk
Large unit price increments affect demand due to diminishing household budgets
Competitive landscape
Consumers return to pre-pandemic habits boosting foodservice to the detriment of retail sales
Stable consumption levels over the forecast period
CHART 1 Dairy Products and Alternatives Value Sales Growth Scenarios: 2020-2027
CHART 2 Dairy Products and Alternatives Impact of Drivers on Value Sales: 2020-2027
MARKET DATA
Table 1 Sales of Dairy Products and Alternatives by Category: Value 2017-2022
Table 2 Sales of Dairy Products and Alternatives by Category: % Value Growth 2017-2022
Table 3 NBO Company Shares of Dairy Products and Alternatives: % Value 2018-2022
Table 4 LBN Brand Shares of Dairy Products and Alternatives: % Value 2019-2022
Table 5 Penetration of Private Label by Category: % Value 2017-2022
Table 6 Distribution of Dairy Products and Alternatives by Format: % Value 2017-2022
Table 7 Forecast Sales of Dairy Products and Alternatives by Category: Value 2022-2027
Table 8 Forecast Sales of Dairy Products and Alternatives by Category: % Value Growth 2022-2027
DISCLAIMER
SOURCES
Summary 1 Research Sources
BABY FOOD IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
Growth in value sales despite declining birth rate as lifestyles return to normal and economic improvement boosts disposable incomes
Busy lifestyles stimulate demand for prepared baby food as parents seek convenience, though high unit prices and limited availability hamper demand
Multinational brands characterise the category thanks to their "marketing" activities, while private label develops
PROSPECTS AND OPPORTUNITIES
Growth opportunities for prepared baby food and other baby food
Growing product awareness key in boosting milk formula consumption among babies over six months old
Household incomes remain a significant barrier to the prospects of baby food sales growth
CATEGORY DATA
Table 9 Sales of Baby Food by Category: Volume 2017-2022
Table 10 Sales of Baby Food by Category: Value 2017-2022
Table 11 Sales of Baby Food by Category: % Volume Growth 2017-2022
Table 12 Sales of Baby Food by Category: % Value Growth 2017-2022
Table 13 Sales of Growing-Up Milk Formula by Age: % Value 2017-2022
Table 14 NBO Company Shares of Baby Food: % Value 2018-2022
Table 15 LBN Brand Shares of Baby Food: % Value 2019-2022
Table 16 Distribution of Baby Food by Format: % Value 2017-2022
Table 17 Forecast Sales of Baby Food by Category: Volume 2022-2027
Table 18 Forecast Sales of Baby Food by Category: Value 2022-2027
Table 19 Forecast Sales of Baby Food by Category: % Volume Growth 2022-2027
Table 20 Forecast Sales of Baby Food by Category: % Value Growth 2022-2027
BUTTER AND SPREADS IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
High price increases have negligible impact on consumption as butter and spreads are staples, while private label still has no presence in the category
Growth of butter and cooking fats as Peruvians remain proud of their newly found culinary skills while margarine and spreads suffers from the health trend
Despite its healthier credentials, margarine remains a larger category than butter with sales supported by small local grocers
PROSPECTS AND OPPORTUNITIES
Slow growth for margarine and spreads over the forecast period, with butter being more dynamic
Slow recovery for foodservice with sales only likely to reach 2019 levels by the end of the forecast period
Large national companies retain leadership while new premium products are launched
CATEGORY DATA
Table 21 Sales of Butter and Spreads by Category: Volume 2017-2022
Table 22 Sales of Butter and Spreads by Category: Value 2017-2022
Table 23 Sales of Butter and Spreads by Category: % Volume Growth 2017-2022
Table 24 Sales of Butter and Spreads by Category: % Value Growth 2017-2022
Table 25 NBO Company Shares of Butter and Spreads: % Value 2018-2022
Table 26 LBN Brand Shares of Butter and Spreads: % Value 2019-2022
Table 27 Distribution of Butter and Spreads by Format: % Value 2017-2022
Table 28 Forecast Sales of Butter and Spreads by Category: Volume 2022-2027
Table 29 Forecast Sales of Butter and Spreads by Category: Value 2022-2027
Table 30 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2022-2027
Table 31 Forecast Sales of Butter and Spreads by Category: % Value Growth 2022-2027
CHEESE IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
Artisanal players pose growing competition for the two outstanding companies in cheese
Small packages of sliced cheese help stimulate consumption growth
Consumption slows considerably in 2022 as consumers resume normal lifestyles after home seclusion leads to a spike in demand
PROSPECTS AND OPPORTUNITIES
National brands increase their share in spreadable cheese
Home consumption stunted by economic constraints in the wake of the pandemic
Private label continues to gain ground while supermarkets increase their portfolios of cheese in general
CATEGORY DATA
Table 32 Sales of Cheese by Category: Volume 2017-2022
Table 33 Sales of Cheese by Category: Value 2017-2022
Table 34 Sales of Cheese by Category: % Volume Growth 2017-2022
Table 35 Sales of Cheese by Category: % Value Growth 2017-2022
Table 36 Sales of Spreadable Processed Cheese by Type: % Value 2017-2022
Table 37 NBO Company Shares of Cheese: % Value 2018-2022
Table 38 LBN Brand Shares of Cheese: % Value 2019-2022
Table 39 Distribution of Cheese by Format: % Value 2017-2022
Table 40 Forecast Sales of Cheese by Category: Volume 2022-2027
Table 41 Forecast Sales of Cheese by Category: Value 2022-2027
Table 42 Forecast Sales of Cheese by Category: % Volume Growth 2022-2027
Table 43 Forecast Sales of Cheese by Category: % Value Growth 2022-2027
DRINKING MILK PRODUCTS IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
Despite a decline in 2022, the size of the shelf-stable milk category exceeds pre-pandemic level as industry players invest in new packaging technology
Demand for fresh milk has yet to recover fully in the wake of the pandemic with only a handful of brands available
Stronger growth for flavoured milk drinks though the category hindered by economic constraints and the availability of milk modifiers
PROSPECTS AND OPPORTUNITIES
High-protein flavoured milk drinks are expected to be launched over the next years
Growth in coffee in the foodservice channel accelerate demand for drinking milk products
Price competition in drinking milk products intensifies over the forecast period
CATEGORY DATA
Table 44 Sales of Drinking Milk Products by Category: Volume 2017-2022
Table 45 Sales of Drinking Milk Products by Category: Value 2017-2022
Table 46 Sales of Drinking Milk Products by Category: % Volume Growth 2017-2022
Table 47 Sales of Drinking Milk Products by Category: % Value Growth 2017-2022
Table 48 NBO Company Shares of Drinking Milk Products: % Value 2018-2022
Table 49 LBN Brand Shares of Drinking Milk Products: % Value 2019-2022
Table 50 Distribution of Drinking Milk Products by Format: % Value 2017-2022
Table 51 Forecast Sales of Drinking Milk Products Products by Category: Volume 2022-2027
Table 52 Forecast Sales of Drinking Milk Products Products by Category: Value 2022-2027
Table 53 Forecast Sales of Drinking Milk Products Products by Category: % Volume Growth 2022-2027
Table 54 Forecast Sales of Drinking Milk Products Products by Category: % Value Growth 2022-2027
YOGHURT AND SOUR MILK PRODUCTS IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
Consumption of yoghurt faces partial recovery as restrictions are lifted
Greek yoghurt becomes more affordable for consumers thanks to new APP and aseptic packaging
Drinkable Greek yoghurt arrives in the Peru
PROSPECTS AND OPPORTUNITIES
Private label gathers momentum over the forecast period through wider product portfolios and increasing number of retailing outlets
Health trend stimulates growth of sugar-free and fat-free products
Organic or all-natural products unlikely to make inroads in Peru over the forecast period
CATEGORY DATA
Table 55 Sales of Yoghurt and Sour Milk Products by Category: Volume 2017-2022
Table 56 Sales of Yoghurt and Sour Milk Products by Category: Value 2017-2022
Table 57 Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2017-2022
Table 58 Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2017-2022
Table 59 NBO Company Shares of Yoghurt and Sour Milk Products: % Value 2018-2022
Table 60 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2019-2022
Table 61 Distribution of Yoghurt and Sour Milk Products by Format: % Value 2017-2022
Table 62 Forecast Sales of Yoghurt and Sour Milk Products by Category: Volume 2022-2027
Table 63 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value 2022-2027
Table 64 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2022-2027
Table 65 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2022-2027
OTHER DAIRY IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
New regulation that mandates the exclusive use of raw milk to manufacture evaporated milk has serious negative consequences
Slowdown for condensed milk in 2022 after spike during the pandemic despite introduction of multiple pack types
Manufacturers manage their costs by mixing milk sources
PROSPECTS AND OPPORTUNITIES
Resumption in slowing trend for evaporated milk over the forecast period
Potential for chilled and shelf stable desserts
Slow growth for cream due to lack of changes in usage habits and its ready substitution by evaporated milk as an ingredient in the production of sauces
CATEGORY DATA
Table 66 Sales of Other Dairy by Category: Volume 2017-2022
Table 67 Sales of Other Dairy by Category: Value 2017-2022
Table 68 Sales of Other Dairy by Category: % Volume Growth 2017-2022
Table 69 Sales of Other Dairy by Category: % Value Growth 2017-2022
Table 70 Sales of Cream by Type: % Value 2017-2022
Table 71 NBO Company Shares of Other Dairy: % Value 2018-2022
Table 72 LBN Brand Shares of Other Dairy: % Value 2019-2022
Table 73 Distribution of Other Dairy by Format: % Value 2017-2022
Table 74 Forecast Sales of Other Dairy by Category: Volume 2022-2027
Table 75 Forecast Sales of Other Dairy by Category: Value 2022-2027
Table 76 Forecast Sales of Other Dairy by Category: % Volume Growth 2022-2027
Table 77 Forecast Sales of Other Dairy by Category: % Value Growth 2022-2027
PLANT-BASED DAIRY IN PERU
KEY DATA FINDINGS
2022 DEVELOPMENTS
Plant-based dairy is characterised by limited demand and a small product range
Growing competition for soy drinks from other plant-based milk due to GMO of soy drinks
Black labels in plant-based dairy products limit their popularity
PROSPECTS AND OPPORTUNITIES
Millennials and Generation Z support demand growth over the forecast period
Products become more accessible as unit prices decline
Modern retailers gain importance and help widen the product range and availability
CATEGORY DATA
Table 78 Sales of Plant-Based Dairy by Category: Volume 2017-2022
Table 79 Sales of Plant-Based Dairy by Category: Value 2017-2022
Table 80 Sales of Plant-Based Dairy by Category: % Volume Growth 2017-2022
Table 81 Sales of Plant-Based Dairy by Category: % Value Growth 2017-2022
Table 82 NBO Company Shares of Plant-Based Dairy: % Value 2018-2022
Table 83 LBN Brand Shares of Plant-Based Dairy: % Value 2019-2022
Table 84 Distribution of Plant-Based Dairy by Format: % Value 2017-2022
Table 85 Forecast Sales of Plant-Based Dairy by Category: Volume 2022-2027
Table 86 Forecast Sales of Plant-Based Dairy by Category: Value 2022-2027
Table 87 Forecast Sales of Plant-Based Dairy by Category: % Volume Growth 2022-2027
Table 88 Forecast Sales of Plant-Based Dairy by Category: % Value Growth 2022-2027