Food - Paraguay

Paraguay

Revenue in the Food market amounts to US$7.58bn in 2024. The market is expected to grow annually by 8.06% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$1.73bn 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$1,094.00 are generated in 2024.
In the Food market, 3.8% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 2,885.00m kg by 2029. The Food market is expected to show a volume growth of 4.6% in 2025.
The average volume per person in the Food market is expected to amount to 351.90kg 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.

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Analyst Opinion

The Food market in Paraguay has been experiencing slow growth, influenced by factors such as limited access to technology, low health awareness among consumers, and preference for traditional food options. However, the market is expected to see some growth due to increasing demand for convenience food and rising urbanization.

Customer preferences: In Paraguay, there has been a notable increase in demand for locally sourced and organic food products as consumers become more conscious of their health and the impact of their food choices on the environment. This trend is also influenced by the growing middle class and their willingness to pay a premium for high-quality and sustainable food options. Additionally, there is a growing preference for online grocery shopping and food delivery services, as busy urban lifestyles and the COVID-19 pandemic continue to drive the need for convenience and safety.

Trends in the market: In Paraguay, The Food market industry is seeing a rise in demand for organic and locally sourced products, driven by a growing consumer interest in healthy and sustainable food options. This trend is expected to continue, with an increasing number of food producers and retailers incorporating sustainable practices and offering a wider range of organic products. This shift towards healthier and more environmentally friendly food choices is not only significant for consumers, but also for industry stakeholders who must adapt to meet these changing preferences. It presents opportunities for growth and innovation, but also challenges in terms of supply chain management and meeting consumer expectations. As the trend towards sustainable food continues to gain momentum in Paraguay, it will be important for industry players to stay ahead of the curve in order to remain competitive in the market.

Local special circumstances: In Paraguay, The Food market is heavily influenced by the country's agricultural landscape and traditional cuisine. The nation's rich biodiversity and fertile land allow for a diverse range of locally sourced ingredients, making The Food market unique and distinct. Additionally, Paraguay's cultural heritage, with a strong emphasis on communal dining and food sharing, plays a significant role in shaping consumer preferences and purchasing behaviors in the market. Regulatory measures, such as the promotion of sustainable and organic farming, also contribute to the market's dynamics, creating a demand for eco-friendly and ethically sourced food products.

Underlying macroeconomic factors: The Food market in Paraguay is impacted by various macroeconomic factors, including global economic trends, the country's economic health, fiscal policies, and other relevant financial indicators. The market is particularly influenced by changes in global food prices, as Paraguay is a major exporter of agricultural products. Additionally, the country's economic stability, inflation rates, and government policies on trade and investments also play a crucial role in shaping The Food market. The demand for food products is closely tied to the overall economic conditions of the country, making it vital to monitor and analyze these macroeconomic factors to understand the performance of The Food market in Paraguay.

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.