Spreads & Sweeteners - Peru

Peru

Highlights

Revenue in the Spreads & Sweeteners market amounts to US$363.50m in 2024. The market is expected to grow annually by 4.19% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$144bn in 2024).
In relation to total population figures, per person revenues of US$10.48 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 199.00m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 5.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Spreads & Sweeteners market in Peru is facing minimal growth, influenced by factors such as consumer preferences shifting towards healthier options, increasing competition from alternative sweeteners, and the impact of the current economic climate on consumer spending. Despite these challenges, the market continues to grow due to the convenience and versatility of spreads and sweeteners in various food products.

Customer preferences: Consumers in Peru are becoming more health-conscious and are actively seeking out healthier and natural alternatives when it comes to their food choices. This has led to a growing demand for spreads and sweeteners made from natural ingredients, such as honey and agave nectar, rather than processed sugars. Additionally, there is a rising preference for locally sourced and sustainable products, as consumers become more aware of the impact of their food choices on the environment. This trend is also reflected in the popularity of artisanal and small-batch spreads and sweeteners, as consumers seek out unique and authentic flavors.

Trends in the market: In Peru, the Spreads & Sweeteners market is experiencing a shift towards healthier and more natural options. Consumers are increasingly seeking out products with natural ingredients and lower levels of added sugars. This trend is driven by a growing awareness of the negative health effects of excess sugar consumption. Industry stakeholders in Peru are responding by offering more natural and low-sugar options, with some companies even reformulating their existing products. This trend is expected to continue, with potential implications for the overall market share of traditional spreads and sweeteners and the introduction of new, healthier alternatives.

Local special circumstances: In Peru, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's diverse agricultural landscape. Peru is known for its production of high-quality natural sweeteners, such as agave and stevia, which are in high demand among health-conscious consumers. Additionally, the use of traditional spreads made from local fruits and nuts, such as lucuma and maca, adds a unique flavor profile to the market. The government's efforts to promote sustainable agriculture and support small-scale producers also play a significant role in shaping the market dynamics. Furthermore, the cultural preference for homemade and artisanal products has created a niche market for small, locally-owned businesses specializing in spreads and sweeteners.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in Peru is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's economic stability, consumer spending power, and government policies towards food production and consumption significantly impact the performance of the market. Furthermore, changing dietary preferences, rising health consciousness, and increasing disposable income are driving the demand for healthier and natural sweeteners in the market. As the economy grows and consumer purchasing power increases, the demand for premium and organic spreads & sweeteners is expected to rise, creating growth opportunities for the market.

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.