Food - Argentina

Argentina

Revenue in the Food market amounts to US$56.56bn in 2024. The market is expected to grow annually by 10.29% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$12.14bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,238.00 are generated in 2024.
In the Food market, 3.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 25.02bn kg by 2029. The Food market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Food market is expected to amount to 498.20kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Argentina is facing subdued growth due to various factors such as economic instability, rising inflation, and changing consumer preferences. Despite this, the market is expected to experience steady growth, driven by the increasing demand for convenience food, health-consciousness, and the growing availability of online food services. Additionally, the sub-markets of dairy products, meat, fruits, and vegetables are expected to contribute significantly to the overall market growth. However, challenges such as food safety concerns and high production costs may hinder the market's growth potential.

Customer preferences: In Argentina, there has been a noticeable shift towards healthier food choices, with consumers becoming more health-conscious and seeking out organic, natural, and plant-based options. This trend is driven by a growing awareness of the importance of nutrition and its impact on overall well-being. As a result, there has been a surge in demand for alternative protein sources, such as soy and quinoa, as well as a rise in sales of health supplements and functional foods. This shift is also influenced by the rising number of individuals adopting vegetarian or vegan diets, as well as an increased focus on sustainability and ethical consumption.

Trends in the market: In Argentina, The Food market industry is experiencing a surge in demand for organic, locally sourced produce. This trend is driven by a growing consumer awareness of the health and environmental benefits of sustainable food options. Additionally, there is a rise in e-commerce platforms and delivery services, providing convenience and accessibility to customers. As this trend continues, industry stakeholders must adapt to meet consumer demands and capitalize on this shift towards healthier and more sustainable food choices. This includes investing in technology and supply chain efficiency to meet the growing demand for organic products.

Local special circumstances: In Argentina, The Food market is heavily influenced by the country's diverse and rich culinary traditions. The local cuisine is a blend of indigenous, European, and African flavors, which has led to a wide variety of unique dishes and products. Additionally, Argentina's vast land and fertile soil allow for the production of high-quality crops and livestock, making it a major exporter of agricultural goods. The country's strong cultural emphasis on food and the growing demand for healthy and sustainable options have also shaped the local Food Market. These factors, combined with government policies promoting local production and consumption, have created a dynamic and competitive market for food products in Argentina.

Underlying macroeconomic factors: The Food market in Argentina is heavily influenced by macroeconomic factors such as the country's overall economic health, global economic trends, and fiscal policies. The stability of the national economy, as well as any fluctuations in the global economy, can impact consumer spending and purchasing power within The Food market. Additionally, policies related to trade and tariffs can also impact the availability and cost of imported food products, ultimately affecting market performance. Furthermore, factors such as inflation, unemployment rates, and income inequality can also influence consumer behavior and market demand for different types of food products.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.