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Mémoire
Bachelor thesis

Quinoa steaks : can the Latin American city Lima be the next target market for this meat substitute ?

SONAR|HES-SO

    2020

Mémoire de bachelor: Haute école de gestion de Genève, 2020

English The market for meat substitutes has been booming in recent years. According to a study published by Fortune Business Insights, it was worth USD 4.4 billion in 2018 and is projected to almost double by 2026, with a CAGR1 of 8.4%. The rising popularity of the vegan diet as well as the growing interest in food safety and the environment have placed these alternatives in a prominent position worldwide. But can the quinoa steak euphoria spread to a city where 85% of the people interviewed eat meat several times a week? This research aims to assess whether the Lima population could be the next target market for quinoa steaks. Conclusions will be drawn on the opportunity to expand it in this region, and an action plan will be established to better target its communities. The tools used to achieve this objective were an online questionnaire and a food blindfolded experiment. Interviews with two dieticians were also conducted to establish a future for the meat substitute market. These tools were used to gather in-depth information about each population’s segment and to study their behaviour towards quinoa steaks, to ultimately define whether Peruvians would be ready for meatless food. Through our study, we determined that this sector is little known in Lima. Even though quinoa has an admirable image within the country, 78% of the respondents to the online questionnaire have never tasted its steak version. However, the experiment was conclusive as to the future of this market, as 50% of the participants would recommend quinoa steaks to their relatives. The lack of knowledge of this market is the major barrier to its development in Lima. As a result, an awareness campaign in collaboration with schools, businesses, supermarkets, and local influencers is required to increase the visibility of quinoa steaks and their benefits for health. Workshops, tastings, a wider choice of meat substitutes, and better product placement in stores could also be potential solutions. Based on a bottom-up approach, we estimated the value of the business opportunity in Lima for the quinoa steak market to be worth USD 20’300’545.80 (S/.69’001’556.99) under a base case scenario. The region could therefore be promising if more investment were devoted to promoting this product.
Language
  • English
Classification
Economics
Notes
  • Haute école de gestion Genève
  • International Business Management
  • hesso:hegge
License
License undefined
Identifiers
  • RERO DOC 329879
Persistent URL
https://folia.unifr.ch/global/documents/315158
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