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Convenience Food - Central America

Central America
  • Revenue in the Convenience Food market amounts to US$5.02bn in 2024. The market is expected to grow annually by 6.13% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$154bn in 2024).
  • In relation to total population figures, per person revenues of US$95.07 are generated in 2024.
  • In the Convenience Food market, volume is expected to amount to 930.30m kg by 2029. The Convenience Food market is expected to show a volume growth of 3.7% in 2025.0.
  • The average volume per person in the Convenience Food market is expected to amount to 15.5kg in 2024.

Definition:

The Convenience Food market covers any form of pre-packaged or prepared food that is intended to be simple to prepare or consume quickly, requiring little to no cooking or other preparation. Examples include ready-to-eat meals, frozen dinners, and soups. The focus of these meals is less on quality and nutrition and more on convenience and accessibility.

Structure:

The market consists of two different submarkets:

  • The Ready-to-Eat Meals market covers products that require minimal preparation by the consumer, i.e., meals that only require heating up.
  • The Soups market covers finished products such as powders for making soup (instant soups), and broth or liquid soups that are purchased in prepared form (tinned soups).

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), 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.

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

In-Scope

  • Ready-to-eat meals
  • Soups

Out-Of-Scope

  • Fresh cut salad
  • Frozen vegetables
  • Cut fruit
  • Out-of-home consumption
Convenience Food: market data & analysis - Cover

Market Insights report

Convenience Food: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Convenience Food Market in Central America is experiencing minimal growth, influenced by factors such as the increasing demand for ready-to-eat meals and soups, and the convenience offered by these products. However, the market is also impacted by challenges such as limited access to technology and low consumer awareness of online food services. These factors contribute to the slow growth rate in the region.

    Customer preferences:
    Convenience and ease are becoming key factors in consumer food choices, leading to a rise in demand for pre-packaged and ready-to-eat meals. Moreover, with the increasing busy and on-the-go lifestyles, time-saving solutions are gaining popularity in Central America. As a result, there is a growing preference for convenience foods that offer quick and easy meal options without compromising on taste or nutrition. This trend is also fuelled by the growing influence of Western fast food culture and the desire for modern, convenient food options.

    Trends in the market:
    In Central America, the Convenience Food Market is experiencing a shift towards healthier and more sustainable options. This trend is being driven by a growing awareness of the negative impacts of processed and fast food on health and the environment. As a result, there is a rising demand for organic, plant-based, and locally sourced convenience food options. This trend is expected to continue as consumers become more health-conscious and environmentally aware. Industry stakeholders should adapt to this trend by offering healthier and sustainable convenience food options to stay relevant and competitive in the market.

    Local special circumstances:
    In Central America, the Convenience Food Market within The Food market is heavily influenced by the region's diverse cultural heritage and geographical factors. For instance, in countries like Mexico and Guatemala, the market is driven by the popularity of traditional street food and the presence of a large informal economy. In contrast, in countries like Costa Rica and Panama, the market is dominated by the demand for healthy and organic convenience food options, driven by the growing health-conscious middle class. Additionally, varying regulatory policies and trade agreements between Central American countries and the US also impact the market dynamics.

    Underlying macroeconomic factors:
    The Convenience Food Market within The Food market is heavily impacted by macroeconomic factors in Central America. The region's economic stability, government policies, and investment in infrastructure play a crucial role in the growth of the convenience food industry. Countries with strong economic growth and stable political environments, such as Costa Rica and Panama, are experiencing higher market growth compared to countries with economic volatility and political instability. Additionally, with the increasing urbanization and busy lifestyles in Central America, there is a growing demand for convenient and ready-to-eat food products, further driving the growth of the convenience food market in the region.

    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.

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    Convenience Food: market data & analysis - BackgroundConvenience Food: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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