Food - Chile

Chile

Revenue in the Food market amounts to US$35.20bn in 2024. The market is expected to grow annually by 6.23% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$7.71bn 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$1,791.00 are generated in 2024.
In the Food market, 3.1% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 9.54bn kg by 2029. The Food market is expected to show a volume growth of 3.0% in 2025.
The average volume per person in the Food market is expected to amount to 431.80kg 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

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Analyst Opinion

The Food market in Chile is experiencing minimal growth, impacted by factors such as changing consumer preferences, increasing health consciousness, and the convenience of online shopping. This trend is evident in sub-markets like dairy products, meats, fruits, and vegetables, where consumers are seeking healthier and more sustainable options. Additionally, the market is influenced by the rising demand for convenience foods and the growing pet food industry. Overall, these factors contribute to the slow but steady growth of The Food market in Chile.

Customer preferences: Consumers in Chile are increasingly showing a preference for healthier and more sustainable food options, driven by growing awareness of the impact of diet on overall well-being and the environment. This has led to a rise in demand for organic, plant-based, and locally sourced products. Additionally, there is a growing trend towards convenience and on-the-go food options, as busy lifestyles and urbanization continue to shape consumer behavior. This has led to an increase in online food delivery services and the popularity of meal prep and meal kit subscriptions.

Trends in the market: In Chile, The Food market industry is seeing a rise in demand for natural and organic products, with consumers becoming more health-conscious. This trend is significant as it reflects a shift towards sustainable and ethical consumption. It also presents opportunities for industry stakeholders to cater to this growing demand and differentiate themselves in the market. Additionally, there is a growing trend of online food delivery services, driven by the convenience and safety it offers during the ongoing pandemic. This trend is expected to continue, with implications for traditional brick and mortar businesses to adapt and incorporate online channels to remain competitive.

Local special circumstances: In Chile, The Food market is heavily influenced by the country's unique geographical location, with its long coastline and diverse ecosystems providing a wide variety of fresh seafood, fruits, and vegetables. In addition, the Chilean culture values traditional dishes made with locally grown ingredients, creating a strong demand for locally-sourced, organic products. This, combined with strict government regulations on food safety and labeling, has shaped the market dynamics, with consumers preferring to buy from small, family-owned businesses rather than large multinational corporations.

Underlying macroeconomic factors: The Food market in Chile is heavily influenced by macroeconomic factors such as the country's economic health and government policies. Chile has a stable and growing economy, with a high level of economic freedom and a strong market-oriented economy. The government's commitment to free trade agreements has led to increased foreign investment and a more open market for food products. Additionally, Chile's stable political climate and relatively low inflation rate create a favorable environment for businesses to operate and thrive in The Food market. Furthermore, the country's growing middle class and increasing disposable income are driving demand for higher quality, imported food products. These factors contribute to a positive outlook for the Chilean food market, with continued growth and potential for expansion in the future.

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.