Peru Baby Food - Market Assessment and Forecasts to 2029

Peru Baby Food - Market Assessment and Forecasts to 2029

Peru Baby Food - Market Assessment and Forecasts to 2029

Summary

The number of live births in Peru declined by 9.2% during 2017-23, reaching 178,958 in 2023. This resulted in a baby population of 513,276 in 2023. The GDP of Peru declined by 0.2% in 2023, due to unfavorable economic conditions, while consumer price inflation stood at 6.4%. Overall sales in value terms grew in recent years with the sector registering a CAGR of 3.8% during 2017-23. In volume terms, sales increased marginally in 2023 registering a CAGR of 0.7% during 2017-23. Baby milks remained the largest category in value terms with over 90% of the baby food sector, followed by baby wet meals & others. Nestlé and Mead Johnson (Reckitt Benckiser) were the top two companies in 2023. Hypermarkets & supermarkets remained the leading distribution channel, accounting for over 70% of overall value sales in 2023. GlobalData estimates that the number of live births will decrease over the forecast period in Peru. The market for baby food in the country is expected to increase in value terms during 2023-29, registering a CAGR of 1.9%.

Key Highlights

• Value sales of baby milks grew from PEN667.4 million ($204.7 million) in 2017 to PEN839.7 million ($222.8 million) in 2023, registering a CAGR of 3.9% during this period.
• Baby cereals & dry meals’ volumes increased marginally from 0.67 million kg in 2017 to 0.68 million kg in 2023, at a CAGR of 0.3%.
• Value sales of the baby wet meals & others category rose from PEN41.7 million ($12.8 million) in 2017 to PEN49.4 million ($13.1 million) in 2023, at a CAGR of 2.9%.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the baby food sector in Peru, as part of GlobalData’s global coverage of the sector. It includes an analysis of the following -

• Market environment: The report provides a comparative analysis of the value and volume shares of Peru against the Latin American and global baby food sectors. Additionally, the per capita consumption (PCC)* of and per capita expenditure (PCE)* on baby food in Peru are compared at regional and global levels.

Background: Provides an overview of births, consumer trends, socio-demographic trends, working women population, and regulations in the Peruvian baby food sector.

• Category coverage and competitive landscape: The report offers an overview of growth at a sector level and provides an analysis of three categories: baby milks, baby cereals & dry meals, and baby wet meals & others. These categories are analyzed by value, volume, and CAGR for the 2017-29 period. The analysis also includes the PCC of and PCE on baby food in Peru, by category. The report provides an analysis of leading manufacturers and brands in the Peruvian baby food sector in 2023 and their market shares in each category.
• Production and trade: The report provides an analysis of imports and exports in the Peruvian baby food sector.
• Distribution channel: Provides analysis on the leading distribution channels at both sector and category level in 2023.
• Economic background: The report also provides an outlook on macroeconomic indicators in Peru, with a detailed summary of the economy and labor market.

Reasons to Buy

• Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
• Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
• Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
• Investigates which categories are performing the best and how this is changing market dynamics.