Rice, Pasta and Noodles in Colombia - New Market Research Report

During 2014, rice, pasta and noodles continued expanding, posting 2% volume growth and 7% current value growth. The increases were attributable to a rise in disposable incomes for middle/low-income consumers and the positioning of new and healthy alternatives (such as wholegrain rice and pasta). Despite growing at a lower rate since the end of the commodities boom in international markets, the Colombian economy continued expanding (with the unemployment rate declining from 9.1% in 2014 to 8.8% in 2015), which allowed the strengthening of middle/low incomes. This allowed many Colombians, for whom rice and pasta are part of their daily diets, to migrate from poverty.

Competitive Landscape

Diana Corporación consolidated its leading position in 2015, recording a value share of 25% within rice, pasta and noodles. The player led due to its ability to positioning its rice brand Diana as an affordable and nutritional option, with a high level of quality relative to its price. Since 2013, the firm has added vitamins to its rice, giving this fact high visibility on the packaging, which allowed it to increase its consumer base. The firm also made an effort to position its premium rice, supplying consumers looking for more-sophisticated products who had greater interest in international cuisine. The player uses its website to offer rice recipes and others to educate consumers and to introduce uses for rice that are largely unknown. The player also ran a strong advertising campaign, in relation to which consumers could send its product packages in to stand a chance of winning several lottery awards.

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Industry Prospects

Over the forecast period, rice, pasta and noodles is set to grow at a CAGR of 3% at constant 2015 prices, while volume sales are set to grow at a CAGR of 1%. Expected growth is due to the increasing purchasing powers of middle/low-income consumers, a decline in the number of Colombians living in poverty and greater penetration of more-sophisticated products. Middle-income consumers will become more familiar with wholegrain and flavoured pasta and rice, which are set to become regular purchases.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Rice, Pasta and Noodles industry in Colombia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Rice, Pasta and Noodles industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Rice, Pasta and Noodles in Colombia market research report includes:

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