COUNTRY PROFILE
Discover more about the Peru market including overviews about the retail, foodservice, and food-processing sectors. Events, resources, and more are linked throughout the profile.
3rd
largest export market for U.S. agricultural products in South America in 2023
32.6 million
people was Peru’s population in 2024
$255 Million
In 2024, U.S. processed food exports to Peru grew by 12% to US$255 million over 2023
USDA’s Office of Agricultural Affairs (OAA) in Lima, hereinafter referred to as “FAS Post Lima,” reports that Peru in 2023 was the third largest export market for U.S. agricultural products in South America. U.S.-origin food and agricultural product exports to Peru benefit significantly from the U.S.-Peru Trade Promotion Agreement (PTPA). The U.S. plays a pivotal role in Peru’s consumer-oriented food sector, accounting for 17% of the market share. In 2023, consumer-oriented imports from the world reached US$1.9 billion. The growing middle class in Peru seeks high-quality products and there is a positive perception of U.S. food quality, variety, and innovation. E-commerce, modern retail, and foodservice sectors are thriving.
Peru also ranks fourth as a South American market for U.S. processed food exports. In 2024, U.S. processed food exports to Peru grew 12% to US$255 million.
Top processed food exports from the U.S. to Peru in 2024 included:
$11.5 Billion
estimated total retail sales in the packaged food market in 2024
$14.5 Billion
By 2029, the retail packaged food market was expected to reach $14.5 Billion
$23 Billion
Sales within the food retail industry of Peru reached US$23 billion in 2023
According to Euromonitor, retail sales in the packaged food market in Peru had been estimated to reach US$11.5 billion in 2024, making it the fifth largest in South America. By the year 2029, the retail sales in the packaged food market in Peru are expected to reach US$14.5 billion.
FAS Post Lima reports that the food retail sector in Peru is anticipated to experience 5% growth by the conclusion of 2024, attributed to the overall enhancement in the country’s economic landscape and targeted strategies devised by both the modern and traditional food channels. The food retail industry saw sales of US$23 billion in 2023.
FAS Post Lima reports that U.S. products with high sales potential in this sector include cheese, chocolate and confectionery, food preparations, red meats, poultry meats, fruit and vegetable juice, bread, pastry and cookies, soups and broths, sauces, and tree nuts.
5.3%
FAS Post Lima reports that the hotel, restaurant, and institutional (HRI) sector grew 5.3% during the first half of 2023
17%
of the food served at Peru’s high-end hotels are made with imports
FAS Post Lima reports that the hotel, restaurant, and institutional (HRI) sector grew 5.3% during the first half of 2023 compared to 2022, yet the sector remains smaller than in 2019. The restaurant sector showed a favorable performance due to higher traffic of consumers at independent and chain restaurants of different categories such as fast-food chains, and more gastronomic events during this period.
High-end hotels, specifically four- and five-star establishments, represent a niche market for U.S. food products. These hotels offer imported food products, with imported food and ingredients accounting for approximately 17% of the food served. It is worth noting that half of all Peruvian high-end hotels are in Lima. Hotels in Peru are actively developing strategic alliances with international chains and major investor groups. Beef, pork, wine, distilled spirits, and frozen products are potential categories for further development within this channel.
FAS Lima reports that U.S. products with good sales potential in this sector include cheese, beef and offal, poultry meat, nuts and almonds, wine, sauces, pork meat and distilled spirits.
17%
The U.S. is the second largest supplier of ingredients, with a 17% market share
$1.1 Billion
imports of food processing ingredients to Peru in 2023
90%
of Peru’s food processing industry is comprised of micro-companies.
FAS Post Lima reports that Peru has a robust food processing industry that is an integral part of its economy. The food industry contributes to nearly 27% of the country’s industrial gross domestic product (GDP). The industry is mainly composed of micro-companies, which account for over 90% of the industry.
Imports of food processing ingredients to Peru totaled US$1.1 billion in 2023.The U.S. is the second largest supplier of ingredients, with a 17% market share. These ingredients are largely made up of wheat, milk powder, flour meals and pellets, animal fats, and nuts.
FAS Post Lima reports that products with high potential in this sector include wheat, mixtures of edible oils and fats, peptones and derivatives, enzymes and prepared enzymes, dried almonds, prepared pork meat, products consisting of natural milk constituents, mixtures of odoriferous substances, other preparations of semolina, starch flour, or malt extract, and vegetable saps and extracts.
