Consumer foodservice was one of the industries most badly impacted by the pandemic and its slew of restrictions, recording major losses across regions. It has been recovering in most areas of the world since the pandemic, although the recovery is starting to slow, due to high inflation rates pushing up costs and eating into consumers’ disposable incomes.
With climate change influencing all consumer sectors, integrating sustainable practices becomes paramount for risk reduction and resilience building. Amidst this, phenomena like El Niño pose additional challenges, altering consumption patterns and sparking new demands, especially in Latin America.
Latin America is expected to finish 2023 with GDP growth of 1.7% and an inflation rate of 15.1%. The packaged food industry in the region is expected to finish with double-digit sales growth in value terms, but close to flat volume growth. In this context, Euromonitor International has examined the main drivers for food consumers in the region, identifying seven key factors.
Understanding market trends, how competitors are innovating in response, and what new brands are entering the market are all crucial elements in building a well-informed brand strategy. Euromonitor has been tracking New Product Development (NPD) in the Beauty and Personal Care industry in key markets across the region, including Brazil, Mexico, Chile, and Argentina, to understand the innovation occurring within the industry.
The home care industry in Latin America is currently navigating a complex landscape characterised by inflationary pressures, which have adversely affected sales across various categories, both in terms of volume and value. Given this situation, what strategies should be employed to navigate this landscape, and what key insights can be gleaned from this context?
One of the most noticeable features of beverages in the last decade has been the dramatic growth in popularity of the metal beverage can. While proponents of the can like to tout features like sustainability and portability as the driving forces behind this, what has really happened is that the can has aligned itself well with some of the most dynamic growth categories in beverages. It is this category alignment that has been the key to cans’ success.