ITC study reveals market potential of Peruvian natural goods

18 September 2013
ITC News
Peruvian entrepreneurs can now better understand the regulatory and technical requirements of three prioritized biodiversity products in the North American market

Peruvian producers and exporters can now better understand the North American market potential of three of their top natural products, namely the 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, regulatory and technical requirements for these products in Canada and the United States of America; has contact details for finished-product companies that already use Peruvian natural ingredients; and lists tips for producing consistently high-quality goods.

The purpose of the report is to give practical guidance to small and medium-sized producer organizations, processing companies and exporters, enabling them to better understand the level of competitiveness of 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 for a way to better understand the market, regulatory and technical requirements for new ingredients that can compete with well-established ingredients.

Golden market opportunities

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 the products that these ingredients could be used in, the comparative composition and physical characteristics of competing ingredients or of 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, which are the most likely partners to launch new products containing the ingredients.

The ITC Trade and Environment team produced the study as part of the Sustainability Market Guides series financed by the Government of Denmark. The series provides entrepreneurs and policymakers with information on trends in the growing market for sustainably produced goods and services.

ITC is implementing the Trade and Environment Programme to strengthen the competitiveness of developing countries in environmental markets and enable them to overcome obstacles to linking to those markets. In this way, the programme supports small and medium-sized enterprises and trade support institutions in accessing niche markets, such as those related to organic and biodiversity products.