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Tuti and more local and European offerings drive greater consumption of mature cheeses in Ecuador

Ecuador
Market & Price Trends
Published Feb 25, 2024

Tridge summary

Cheese consumption in Ecuador has significantly increased in 2023, with 40% of the population purchasing ripe and semi-ripe cheeses, a 36% rise from the previous year. This surge is attributed to the expansion of discount retail chain Tiendas Tuti and the pandemic-induced home cooking trend. The market growth is also supported by traditional national brands, new local brands, and increased import of European cheeses. Key industry players include Mondel, Hacienda Zuleta, and Alpina's KiosKo brand, which reported a 7% sales increase in December 2023. The Ecuadorian-Dutch brand Monarkaas, established in 2020, has also gained prominence.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Four out of 10 Ecuadorians bought ripe or semi-ripe cheeses in 2023, a food category that has been growing in Ecuador. According to the market consulting firm Kantar Worldpanel, the purchase value, which reflects the consumption of this category, rose 36% in 2023, compared to the previous year. Households replenish this product every three months and spend, on average, USD 2.40 on each purchase, according to the Kantar study, which measures real purchases. The Internal Revenue Service (SRI) figures also reflect an increase in sales of dairy products, including butter, cheese, curds and whey. Together, sales of these products reached USD 88.72 million in 2023, a growth of 5% compared to 2022, but if compared to 2019, the increase is almost double. Why did consumption increase? One of the factors that explains the increase in the consumption of ripe and semi-ripe cheeses in Ecuador is the national expansion of Tiendas Tuti, with strong growth in Guayaquil and Quito. This retail ...
Source: Primicias
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