ORLANDO, FLA. — Inflation and other economic problems have impacted Latin American snack trends, but the large population in these countries is still an important part of the snack industry, representing more than $52 billion in annual sales.

That was the message from Daniela Balcazar, leader of new business for Mexico with NielsenIQ, who was speaking about Latin American snack trends at SNAXPO25, which was held March 30-April 1 in Orlando, Fla.

Latin America has 659 million people, representing 8% of the global population, and the massive economies in Latin America are projected to outpace the developed world in 2025, she said. 

However, rising food prices is a top concern among people living in Latin America, with 38% saying they are cautious about their spending. Nearly half (47%) of Latin Americans say they will buy whatever brand is on sale, while 36% of consumers globally say the same.

“Promotions will always be relevant and drive purchases for these consumers,” Balcazar said.

Sweet snacks represent two-thirds of all snack purchases in Latin America, while savory snacks make up the rest.

Among the top five categories, salty snacks and yogurt are the highlights in volume growth, Balcazar said. Among salty snacks, tortilla chips, corn and extruded snacks, and potato chips are among the segments driving volume growth. 

Chocolate is popular in Latin American countries, but the price of cocoa has consumers pursuing smaller sizes, she said. This prompted an innovation combining chocolate and cookies, another popular category. 

“Some brands developed products with less cocoa, “Balcazar explained. “They invested less in the expensive ingredients and introduced more of the cheapest ingredients. So consumers can still have their chocolate, but it just doesn't cost as much because it's mixed with cookies.”

Snack makers are turning to pistachio-flavored items in increasing numbers, she said. It started in ice cream and has expanded to other foods. Pistachio flavored ice cream accounted for 22% of ice cream volume growth in Brazil. 

Balcazar also highlighted the differences in each country. For instance, spicy snacks account for 16.8% of all snacks sold in Mexico, but in Colombia, spicy snacks account for 8% of salty snacks, and 1.7% in Brazil.