Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food Market in Argentina has been experiencing subdued growth, influenced by factors such as changing consumer preferences, increasing competition, and economic instability. The market for Tortilla Chips, Flips & Pretzels, Potato Chips and Cookies & Crackers is facing challenges due to the rising demand for healthier snacking options and the impact of fluctuating exchange rates on imported ingredients. Despite these challenges, the convenience and variety offered by online shopping is driving growth in the overall Confectionery & Snacks Market in Argentina.
Customer preferences: With the rise of health consciousness and changing dietary preferences, the Snack Food Market in Argentina has seen a shift towards healthier options. Consumers are increasingly demanding snacks made with natural and organic ingredients, as well as gluten-free and vegan options. This trend is driven by a growing awareness of the impact of diet on overall well-being and a desire for more sustainable food choices. This has led to the emergence of new snack brands that cater to these preferences, as well as a rise in sales of healthy snack bars and fruit-based snacks.
Trends in the market: In Argentina, the Snack Food Market of the Confectionery & Snacks Market within The Food market has seen a rise in demand for healthier and more natural snack options. This trend is driven by consumers' growing awareness of the importance of nutrition and a desire for more transparency in food ingredients. As a result, there has been a shift towards products made with natural and organic ingredients, as well as gluten-free and vegan options. This trend is expected to continue, as consumers prioritize health and wellness in their food choices. Industry stakeholders should take note of this trend and consider incorporating more natural and healthier options into their product offerings to remain competitive in the market. Additionally, this trend presents an opportunity for companies to tap into the growing demand for functional snacks, such as those with added vitamins and minerals, to cater to health-conscious consumers.
Local special circumstances: In Argentina, the Snack Food Market within the Confectionery & Snacks Market of The Food market is influenced by the country's cultural preference for indulgent and sweet snacks. This is reflected in the popularity of traditional treats such as dulce de leche and alfajores. Additionally, the country's high consumption of mate, a traditional herbal beverage, has also led to a demand for snacks that pair well with it. Furthermore, the government's strict regulations on food labeling and ingredients have also played a role in shaping the market, as consumers prioritize quality and transparency in their snack choices.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market in Argentina is heavily impacted by macroeconomic factors such as consumer spending power, inflation rates, and trade policies. The country's economic instability and high inflation rates have led to a decrease in consumer purchasing power, resulting in a decline in demand for premium snacks and confectionery products. Additionally, fluctuations in the exchange rate and trade restrictions have made it challenging for international companies to enter the market, limiting competition and innovation. However, the recent economic reforms and government initiatives to attract foreign investment and improve trade relations are expected to boost the growth of the Snack Food Market in Argentina.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
