Sales of dairy products and alternatives are set to register marginal growth in 2023. Despite the resumption of society in the wake of the pandemic, the consumer base for dairy products and alternatives remains small, comprised of the growing middle class and inhabitants of large cities who are able to afford their higher prices and appreciate their convenience.
Dairy products and alternatives is expected to register a rebound in retail volume terms in 2023 after a contraction seen in 2022. Better weather conditions are positively impacting raw milk production and as consequence the production of dairy products.
Consumers in Paraguay typically eat four meals per day: breakfast, lunch (which is considered the most important meal), merienda (consumed at teatime and usually consisting of a hot drink and a baked snack) and dinner. Nevertheless, mealtimes do vary according to region and family.
Younger medium and high-income consumers are boosting demand for plant-based dairy as well as new protein products, with which they have become familiar from travelling to other countries in Latin America, the US and Europe.
The condition of the roads in Paraguay varies depending on the region, with the most developed highways connecting Asuncion, Encarnacion and Ciudad del Este in the southern half of the country. Much of the country’s infrastructure requires improvement given that there are still thousands of miles of rural, unpaved roads, which are impassable during the rainy season.
Sales of dairy products and alternatives are set to increase over the forecast period. Rising incomes and increased urbanisation should enable more of the population to afford products beyond their primary necessities, although macroeconomic growth could slow compared to the review period.
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Dairy Products and Alternatives
This report originates from Passport, our Dairy Products and Alternatives research and analysis database.
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