COUNTRY PROFILE
Discover more about the Chile market including overviews about the retail, foodservice, and food-processing sectors. Events, resources, and more are linked throughout the profile.
$477.9 million
total U.S. exports of processed foods to Chile in 2024
2nd
largest market in South America for U.S. consumer-oriented agricultural exports
18.6 million
total population in 2024
USDA’s Office of Agricultural Affairs (OAA) in Santiago, hereinafter referred to as “FAS Post Santiago,” reports that U.S. agricultural exports to Chile totaled US$1 billion in 2023. The U.S. is the fourth largest supplier of agricultural and related products to Chile, after Argentina, Brazil, and Paraguay. Chile is also the second largest market in South America for U.S consumer-oriented agricultural products, with US$539 million worth of exports in 2023, after Colombia. Competition from Mercosur/Mercosul and regional suppliers remains fierce for consumer-oriented products, grains, soybean products, and pet food.
Chile is also now the second largest in South America for U.S. processed food product exports after Colombia, totaling US$515.2 million in 2023. In 2024, U.S. exports of processed food dropped 7% to US$477.9 million.
Top processed food exports to Chile in 2024 included:
$18.3 billion
estimated total retail sales in the packaged food market in 2024
$23.4 billion
expected total retail packaged food sales by 2029
$28.5 billion
total value of the retail food industry in Chile
According to Euromonitor, retail sales in the packaged food market in Chile had been estimated to reach US$18.3 billion in 2024. By the year 2029, retail sales in the packaged food market in Chile are expected to reach US$23.4 billion.
FAS Post Santiago reports that in 2023, the Chilean retail food industry witnessed a moderate recovery, with total sales reaching approximately US$28.5 billion. Supermarkets and grocery stores remained the primary retail channels for food products, accounting for around 53.6% of the market share. Technology adoption will be a key driver in shaping the Chilean retail industry landscape. Furthermore, focusing on sustainability, health, and personalized experiences will be paramount in meeting evolving consumer demands. tworks and optimizing their store layouts to enhance the overall shopping experience. Spid from Cencosud is a new player, which opened nine stores in Santiago and has online sales in different cities of Chile.
FAS Post Santiago reports that U.S. consumer food products with good potential in the Chilean retail food market include distilled spirits, dog and cat food, essential oils, food preparations, beer, chocolate and cocoa products, dairy products, beef and beef products, tree nuts, condiments and sauces, bakery goods, cereals, pasta, and vegetable oils.
9.7%
of Chilean economy from travel and tourism in 2023
45%
of foodservices sales value from delivery services and takeout food sales
$4 billion
in sales from over 15,500 Chilean restaurants in 2022
FAS Post Santiago reports that Chile’s hotel, restaurant, and institutional (HRI) sector rebounded in 2023, with hotel occupancy reaching 51% and 9.1 million guests, driven by domestic tourism and normalized activities. Chile’s travel and tourism sector also saw significant contributions to the economy, with US$32.5 billion added to the GDP in 2023, representing 9.7% of the economy. Looking ahead to 2024, there are optimistic expectations for continued growth.
The restaurant industry in Chile displayed resilience and adaptability despite persistent challenges. Chile sets itself apart from other Latin American countries in the sense that it is not an oversaturated market. Restaurants adapted to rising demand for healthier, sustainable options and embraced digital tools like online ordering and AI.
FAS Post Santiago reports that Chile offers excellent opportunities for U.S. food exports in the HRI sector. The best prospects for U.S. food products reside in supplying high-end hotels and restaurants along with coffee shops and fast-food restaurant chains. Products which have good sales potential include bakery goods, cereals, and pasta, dairy products, pulses, beef and beef products, tree nuts, pork and pork products, poultry and poultry products, and craft beer.
30%
increase U.S. agricultural exports to Chile from 2015-2022
50%
of all ingredients used by Chile’s food-processing industry are imported
60%
of all processed food products sold to supermarkets and hypermarkets
FAS Post Santiago reports that Chile has a modern and developed food and beverage processing industry. The Chilean food sector is the second most relevant export sector in the country after mining. There are significant opportunities for imported food ingredients in Chile, as half of all ingredients used by the food-processing industry are imported.
FAS Post Santiago reports that the best prospects for U.S. exporters in the Chilean food-processing sector include wheat, bakery ingredients, essential oils, vegetable oils, and condiments and sauces. Products not present in significant quantities, but which have good sales potential include flours and starches, plant extracts, animal and vegetable fats or oils, corn and whey, peptones, and other protein derivatives.
