Peru Baby Food - Market Assessment and Forecasts to 2030

Peru Baby Food - Market Assessment and Forecasts to 2030

Summary

The number of live births in Peru declined by 10.6% during 2018-24, reaching 506,706 in 2024. This resulted in a baby population of 1.5 million in 2024. The GDP of Peru grew by 2.9% in 2024, while consumer price inflation stood at 2.4%. Overall sales in value terms increased in recent years with the sector registering a CAGR of 2.9% during 2018-24. In volume terms, sales decreased in 2024 registering a negative CAGR of 0.6% during 2018-24. Baby milks remained the largest category in value terms of the baby food sector. Nestlé and Reckitt Benckiser were the top two companies in 2024. Hypermarkets & supermarkets remained the leading distribution channel, accounting for over 70% of overall value sales in 2024. 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 2024-30, registering a CAGR of 1.6%.

Key Highlights

• Value sales of baby milks grew from PEN726.1 million ($220.9 million) in 2018 to PEN861.8 million ($227.7 million) in 2024, registering a CAGR of 2.9% during this period.
• Baby cereals & dry meals volumes decreased from 0.7 million kg in 2018 to 0.66 million kg in 2024, at a negative CAGR of 0.9%.
• Value sales of baby wet meals & others rose from PEN43.8 million ($13.3 million) in 2018 to PEN50.8 million ($13.4 million) in 2024, at a CAGR of 2.5%.

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, sociodemographic 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 2018-30 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 2024 and their sales shares in each category. A small number of finger foods are available in Peru, but sales remain very low and are not included in the sales figures in this report.
• Production and trade: The report provides an analysis of imports and exports in the Peruvian baby food sector (2016-23).
• Distribution channels: Provides analysis on the leading distribution channels at both sector and category level in 2024.
• Economic background: The report also provides an outlook on macroeconomic indicators in Peru, with a snapshot 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.