Argentina Demographics
- Population of 43 million; 92% urban
- GDP (PPP) of $771 billion (compared to US); est. 2013 ranks 23 in the world
- GDP (OER) of $484 billion (compared to US); est. 2013
- GDP real growth rate 3.5%; est. 2013
- GDP Per Capita (PPP) $18,600; est. 2013 Ranks 75 in the world
- GDP Composition, by end use:
- Household consumption: 55.5%
- Government consumption: 18%
- Investment in fixed capital: 22%
- Investment in inventories: 3.1%
- Export of goods and services: 20.3%
- Import of goods and services: -18.9%
- 6% of all imported products are of US Origin
- Retail sales in the packaged food market in Argentina had been estimated to reach US$28.9 billion in 2012. That represents a growth rate of 119.6% or US$15.7 billion since 2008. The forecast for growth in this market is also promising. By the year 2017, the retail sales in the packaged food market in Argentina is expected to reach US$32.5 billion, a growth rate of 12.6%, or US$3.6 billion.
- High growth categories in the forecast include frozen and canned/preserved food, sauces, dressings and condiments, pasta, ready meals, sweet and savory snack foods and baby food.
- Although large hypermarkets and supermarkets (including warehouse stores, which are owned by large retail chains) still concentrate a significant portion of the retail F&B market (35%), smaller supermarkets and traditional stores have maintained a high market share (approximately 49%). This is due to their lower prices rapidly approaching promotional prices offered by larger supermarkets, and proximity.
- Over 75% of all imported F&B products are sold through hypermarkets and supermarkets. During the past few years, large retail chains expanded to the interior of the country after the City of Buenos Aires and its suburbs became saturated. Investment in new supermarket openings is taking place in larger cities in the interior of Argentina, but at a slower pace compared to the past few years. Several international retail companies operate in Argentina (Carrefour, Wal-Mart, and Jumbo). Currently, there are very good opportunities for some U.S. consumer-ready food products due to their high quality and image.
- During the past couple of years, consumption of premium F&B reached over 10%-12% of total F&B sales. The retail sector is currently showing the following trends: increased investment in the retail food market, especially and in the interior of the country; recovery of some imported product lines; fewer brands; and a re-emergence of more expensive first brands. Ethnic, kosher, organic, and functional foods are gradually gaining more shelf space.