Convenience Food - Peru

Peru

Highlights

Revenue in the Convenience Food market amounts to US$4.26bn in 2024. The market is expected to grow annually by 5.89% (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$122.70 are generated in 2024.
In the Convenience Food market, volume is expected to amount to 996.00m kg by 2029. The Convenience Food market is expected to show a volume growth of 5.0% in 2025.0.
The average volume per person in the Convenience Food market is expected to amount to 24.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Convenience Food Market in Peru is experiencing minimal growth, influenced by factors such as increasing demand for ready-to-eat meals and soups, as well as rising health consciousness among consumers. The convenience offered by these products is also contributing to the market's growth, as more people opt for easy and quick meal options. However, challenges such as high costs and competition from traditional food options may impact the growth rate in the future.

Customer preferences: In Peru, the Convenience Food Market within The Food market is experiencing a rise in demand for healthy and natural convenience food options. This can be attributed to the growing health consciousness among consumers, as well as the increasing popularity of plant-based and organic diets. Additionally, there is a shift towards sustainable packaging and sourcing of ingredients, as consumers become more environmentally aware. This trend is also influenced by the younger generation's preference for ethical and socially responsible products.

Trends in the market: In Peru, the Convenience Food Market within The Food market is seeing a rise in demand for healthier options among consumers. This trend has led to the introduction of more natural and organic convenience food products in the market. Additionally, there is a growing preference for locally-sourced and sustainable ingredients in convenience food. This trend is significant as it reflects a shift towards healthier and more environmentally-friendly choices. Industry stakeholders should adapt to this trend by offering more diverse and healthier options in their convenience food offerings to cater to the changing consumer preferences.

Local special circumstances: In Peru, the Convenience Food Market is heavily influenced by the country's diverse geography and rich cultural heritage. The availability of a wide range of local ingredients and traditional recipes has led to a unique and dynamic market for ready-to-eat and convenience food products. Additionally, the government's efforts to promote healthy eating habits and regulate food labeling have played a significant role in shaping consumer preferences and market trends. This has resulted in a thriving market for healthy and organic convenience food options, catering to the growing demand for quick and nutritious meals among busy urban populations.

Underlying macroeconomic factors: The Convenience Food Market within The Food market in Peru is heavily influenced by macroeconomic factors such as the country's national economic health and fiscal policies. As a developing country, Peru has experienced economic growth and stability in recent years, leading to an increase in disposable income and consumer spending. This, coupled with changing consumer lifestyles and preferences, has driven the demand for convenient and ready-to-eat food options. Additionally, global economic trends such as the rise of e-commerce and increasing urbanization have also contributed to the growth of the Convenience Food Market in Peru. However, challenges such as food safety and quality regulations and rising inflation rates may hinder market growth in the future.

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.