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Convenience Food - Chile

Chile
  • Revenue in the Convenience Food market amounts to US$2.28bn in 2024. The market is expected to grow annually by 5.13% (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$115.90 are generated in 2024.
  • In the Convenience Food market, volume is expected to amount to 383.30m kg by 2029. The Convenience Food market is expected to show a volume growth of 2.1% in 2025.0.
  • The average volume per person in the Convenience Food market is expected to amount to 17.8kg 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 Chile is seeing steady growth, driven by factors such as increasing demand for ready-to-eat meals and soups, along with the convenience and time-saving offered by these products. However, the market growth rate is minimal, potentially impacted by factors such as economic downturn and changing consumer preferences towards healthier options.

    Customer preferences:
    As Chilean consumers become more health-conscious, there is a growing demand for convenient and healthy convenience food options. This trend is fueled by busy schedules and a desire for balanced nutrition. As a result, we are seeing a rise in the availability of ready-to-eat meals made with natural and organic ingredients, as well as an increase in plant-based and gluten-free options. Additionally, there is a growing interest in sustainable and eco-friendly packaging for convenience foods, reflecting a shift towards more conscious consumption habits.

    Trends in the market:
    In Chile, the Convenience Food Market is experiencing a rise in demand for healthy and organic convenience food options, driven by a growing health-conscious population. This trend is expected to continue, with consumers increasingly seeking out convenient yet nutritious food choices. As a result, major players in the industry are investing in innovations and partnerships to meet this demand. This shift towards healthier convenience food options is not only significant in terms of promoting better dietary habits, but also presents opportunities for industry stakeholders to tap into this growing market segment. Moreover, it also reflects a larger trend towards sustainable and environmentally-friendly food choices, which could have positive implications for the industry in the long run.

    Local special circumstances:
    In Chile, the convenience food market is heavily influenced by the country's unique geographical landscape. Chile is a long and narrow country, stretching over 4,300 kilometers, which makes transportation of fresh produce challenging. This has led to a high demand for packaged and processed foods, especially in rural areas where access to fresh ingredients is limited. Additionally, Chile's strong agricultural sector and diverse cultural influences have contributed to the popularity of convenience foods, such as empanadas and pastel de choclo, which are quick and easy to prepare. Furthermore, the government's strict regulations on food labeling and safety have influenced consumer preferences, with a growing trend towards healthier and more natural convenience food options.

    Underlying macroeconomic factors:
    The Convenience Food Market within The Food market in Chile is heavily influenced by macroeconomic factors such as the country's economic stability, consumer spending patterns, and government policies. With a growing middle class and increasing disposable income, Chileans are increasingly turning to convenience foods for their busy lifestyles. Moreover, favorable trade agreements and increasing investments in the food industry are also contributing to the growth of the market. However, rising inflation and fluctuating commodity prices can pose challenges for market growth. It is also worth noting that shifting consumer preferences towards healthier and sustainable food options are driving the demand for convenience foods with natural and organic ingredients.

    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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