Sales of cooking ingredients and meals rose marginally in volume terms in 2023 as the home cooking trend experienced during the pandemic faded dramatically. Inflationary pressures and economic uncertainty stimulated growing price sensitivity which boosted demand for cheaper products, especially as many people live in poverty in El Salvador.
Inflationary pressures continued in 2023, although at a lower rate than in the previous year, leading to increasing retail prices of cooking ingredients and meals. This trend was especially prominent in imported brands which faced rising production and logistics costs in their countries of origin, leading to retail price adjustments in local countries.
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.
In 2022, El Salvador closed the year with reported inflation of 7.2%, according to official figures from the Central Reserve Bank.
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.
From 2024, sustained, albeit moderate growth in retail volume sales of cooking ingredients and meals is expected. Packaged products such as vegetable oil, cooking ingredients and condiments already have high levels of penetration, therefore growth in volume sales is expected to be organic and at similar rate to population growth.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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