Brazil Dominates Latin American Dairy Market, States Euromonitor in Its Insightful Report Available at MarketPublishers.com
06 Apr 2017 • by Natalie Aster
LONDON – Latin America accounts for less than 15% of the worldwide dairy sales, which is equal to nearly USD 60 billion. It is one of the most rapidly growing regional markets worldwide, driven largely by cheese and fruited yoghurt categories. The depression of economic activity across certain markets, specifically in Brazil and Venezuela, has had its effect on dairy sales, particularly through traditional grocery retailers, which generally have higher price points. Moving forward, goods availability, price promotions and diversity will likely be of key importance.
Brazil is the largest dairy market in the region. Drinking milk is the leading market category, grabbing 40% of the region’s retail sales as of 2016. Milk is a prime product in Brazil, consumed not only by kids, but also by grown-ups for breakfast and lunch, as a snack or dessert, as well as an addition to drinks, meals, etc.
Apart from Brazil and Chile, where contemporary grocery retailers capture more than 70% of dairy sales, conventional stores remain vitally important in cheese distribution across Latin America. The prevalence rate of conventional stores is specifically apparent in smaller markets, encompassing Bolivia, Ecuador and Guatemala.
Latin America’s dairy markets are still fragmented. Nestlé is taking lead due to geographic diversification, but Danone is drawing nearer. Lala is the dominant brand in the region, and La Serenísima is the best-performing brand.
Insightful research report “Dairy in Latin America” drawn up by Euromonitor is aimed at carefully assessing the overall dairy market, focusing on the dairy sector on a regional level.
The study limelights key industry trends, market opportunities and threats; identifies outstanding growth sectors and various factors driving change; throws light on the competitive scenario in the regional marketplace and gives an insightful overview of the leading companies and brands. Detailed country market snapshots are available. Furthermore, the report offers detailed forecast data giving an idea of how the market is likely to develop in the offing.
More insightful market studies by our partner can be found at Euromonitor page.