USDA’s Office of Agricultural Affairs (OAA) in Lima, hereinafter referred to as “Post,” and Food Export’s In-Market Representative report that Peru is the second largest export market for U.S. agricultural products in South America reaching 16% of market share. For over a decade, Peru has been one of the world’s top-performing economies, registering sustained high growth accompanied by low inflation.
U.S.-origin food and agricultural product exports to Peru benefit significantly from the U.S.-Peru Trade Promotion Agreement (U.S.-PTPA), with all tariffs to be phased out completely by 2026. U.S. agricultural exports have increased from $514 million in 2009 to reach over $1.36 billion in 2018. In 2021, U.S. exports neared US$1 billion and are expected to remain stable in 2022. The U.S. accounts for a 30% share of the consumer-oriented foods segment.
“All of Food Export’s programs were a tremendous help getting us export ready, understanding the challenges that come with international business, and learning how to navigate them.”
Katz Gluten Free
Food Export-Northeast Participant since 2018
According to the Ministry of Production, retail sales accumulated 18 months of continuous growth in Peru. The retail market accounts for over US$23 billion in sales as of 2021, and growth is driven by the modernization of the sector, e-commerce, and delivery apps. The sector also benefited in the last 10 years from the consolidation of middle-class and economic indicators.
The traditional channels, formed by over 500,000 mom-and-pop stores called “bodegas,” still dominate the market, especially in smaller cities, away from the capital Lima. Despite modernization with financial and delivery tools implemented by those independent businesses, it is estimated that they are not having revenue growth over the last few years, whereas the modern channels are experiencing sales increases.
Modern retailers have been offering product assortment that has been changing habits with the consumers, this includes a wide variety of brands and types of products that range from standard or conventional items to specialty and luxury items, such as imported high-end brands, gourmet or organic or vegan food products.
Best Product Prospects:
Top product prospects include alcoholic beverages (wine, beer, whiskey), bakery products (bread, pastry, cookies), beef, poultry, cheeses, dairy products, condiments and sauces, food preparations, fresh fruits (stone fruits, deciduous, citrus), juices and non-alcoholic beverages, snacks and confectionery, nuts and almonds, and soups and broths.
The restaurant industry has recovered from the pandemic and has been changing with the boosting of delivery apps, which were already in the country before the pandemic and have consolidated after it. The industry has also been going through formalization and modernization, including concepts of customer loyalty, brand positioning in the market, and better customer service techniques.
Fast food has been expanding throughout Peru; however, most of the international food cuisine and items will be concentrated in tourist areas of Lima and major touristic cities such as Cusco. This is a sector that absorbs around 20% of all food and beverage imported by the country.
Best Product Prospects:
Top product prospects include beef and offal, cheese, distilled spirits, fresh fruit (apples and citrus), pork, poultry, processed fruits and vegetables, sauces and condiments, tree nuts, and wine.
Best Product Prospects:
Top product prospects include almonds, concentrated milk, enzymes and preparations, flour meat meals and vegetable fats, hop cones and roasted malt, mixtures of edible oils and fats, preparations of semolina, protein concentrates, skim powdered milk, starch flour or malt extract, vegetable saps and extracts, wheat, whey, and modified whey.
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