Snacks is set to see modest growth in 2023 due to rising prices caused by inflationary pressures and increasing prices of raw materials, with imported brands being especially affected. Lower consumer purchasing frequency will lead to flat volume growth but greater dynamism in value.
In 2023, the snacks market in El Salvador is set to see greater dynamism in retail value than volume sales. Inflationary pressures continue to affect the market with price increases seen in certain inputs such as corn flour, edible oil, packaging, as well as logistics and supply chain costs.
Consumers in El Salvador typically have three meals a day, consisting of breakfast, lunch and dinner. Lunch is usually considered the most important meal but is often only eaten together as a family at weekends due to work and school commitments, though this changed during the pandemic due to lockdown and home seclusion as normal lifestyles and routines were severely disrupted.
In 2021 El Salvador became the first country in the world to officially adopt the use of bitcoin as legal tender. However, a significant proportion of the population continue to use physical bills and have not adopted digital currency for their daily transactions.
Connectivity is good in El Salvador with the World Economic Forum (WEF) ranking the country’s road network among the best in the region. However, gang-related extortion makes it difficult for distributors to reach all neighbourhoods, which means they often prefer to go to a distribution centre and then deliver to a supermarket warehouse, with supermarkets having "agreements" with gangs to allow them to deliver their products.
The birth rate continues to slow in the country, passing from about 19% per 1,000 of population in 2013, to an estimated 17% by 2023. This trend is expected to continue in the coming years.
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Understand the latest market trends and future growth opportunities for the Snacks industry in El Salvador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Snacks industry in El Salvador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Snacks
This report originates from Passport, our Snacks research and analysis database.
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