Market potential for Peruvian natural ingredients

29 April 2014
ITC News
New publication allows Peruvian entrepreneurs to improve understanding of the regulatory and technical requirements for three biodiversity-based products in the North American market.

Peruvian producers and exporters now have up to date knowledge of the North American market for three of their top natural products, namely golden berry, mesquite and sacha inchi thanks to the publication of a new ITC study.

The study, called ‘Market analysis for three Peruvian natural ingredients’, provides an overview of the market, as well as regulatory and technical requirements for these products in Canada and USA. Furthermore, the study includes contact details for finished-product companies that already use Peruvian natural ingredients.

The purpose of the report is to give practical guidance to SME producer organizations, processing companies and exporters, enabling them to better understand the level of competitiveness for their products in the market, and in particular the scale of production and availability of comparable ingredients. The report also provides insights on key drivers of natural and organic-sector growth.

This study responds to requests of Peruvian companies to understand the market, regulatory and technical requirements for new ingredients that can compete with well-established ingredients.

Successful marketing of the dried golden berry, Peruvian mesquite flour and sacha inchi seed and seed oil, which are relatively new to product development, requires more than competitive price data, according to the study. Technical sales managers need to understand which products these ingredients could be used in; the comparative composition and physical characteristics of competing ingredients; which ingredients that can be processed together, and the types of testing data and technical support that a buyer expects.

The study provides links and contact details for finished-product companies that use Peruvian natural ingredients. These are the most likely partners to launch new products containing the ingredients.

Want to learn more? Watch video on Peruvian enterprises taking part in the project.