The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Bottled water is the largest market in volume sales within soft drinks, with twice the size of carbonates, on a global level. Latin American countries account for around 15% of global bottled water volume and include two of the top 10 largest markets in the world - Mexico and Brazil. Although still water remains the most important category, there are plenty of latent opportunities to be explored in developed and emerging products - such as flavored and functional water.
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Containing two of the top 10 markets for bottled water in the world -Mexico and Brazil -the region still presents latent opportunities for consolidation. Many Latin American countries are marked by bottled water demand, fuelled by poor public water supply and basic needs. Future growth can still be leveraged by consumers’ active desire for bottled water over other soft drinks -especially highly-sugared ones, such as carbonates.
While still bottled water and even carbonated versions are already perceived as essential items in many Latin American countries, flavoured and functional types struggle to find their niches in these markets. Either by targeting children and their parents as a carbonates replacement, or adults with purposeful health claims, these products’ concepts are not yet clear to all consumers or may face regulatory constraints, inhibiting further growth.
A key channel in almost all countries in Latin America is still direct selling. By offering attributes such as convenience, for example, this channel takes advantage of well-established distribution networks and high volumes, contributing to lower unit prices per litre-a key driver for bottled water sales in the region.
Either in very consolidated markets among major multinational companies or in fragmented environments with a high number of local players, fierce competition on unit prices constitutes a high entry barrier for new players. Little or no space for differentiation is left, with most innovations being in terms of packaging sizes and types.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.