After several years of continuous sluggish results, carbonates has returned to growth in 2021 due to the impact of COVID-19. More people worked and studied from home, which contributed to off-trade growth in the year.
Carbonates sales are expected to rebound in 2021, but at a slower pace than expected as the industry is losing ground to natural healthy bottled water options. The COVID-19 pandemic encouraged greater emphasis on public health and may accelerate a long-term progression of purified and mineral water options.
Due to the financial repercussions of the COVID-19 pandemic with increased unemployment and lower purchasing power, there is a clear movement from premium to lower-priced options. B-brands consequently showed a good performance in 2020-2021.
As a long as the economy recovers, consumption is forecast to continue showing good results in the period 2022-2023 with an incremental volume for reduced sugar carbonates linked to the negative consumer attitude towards sugar consumption, and important investment in R&D and advertising for reduced sugar versions from the leaders Coca-Cola and PepsiCo.
B-brands are expected to show a good performance over the forecast period to 2026 due to lower consumer disposable income. On the other hand, Coca-Cola and PepsiCo’s portfolios will recover, fuelled by innovation and a strong advertising budget promoting reduced sugar carbonates.
Foodservice carbonates sales are expected to rise strongly during 2021, however, recovery to pre-COVID levels is not likely until 2024. It is expected that many consumers will continue to avoid socialising outside the home due to lingering fears of catching COVID-19 and economic recession, which will place household incomes under pressure.
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Understand the latest market trends and future growth opportunities for the Carbonates industry in Uruguay with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Carbonates
Sweetened, non-alcoholic drinks containing carbon dioxide are included here. All carbonated products containing fruit juice (“sparkling juices”) are included here, unless they are tea-based (these are included in carbonated RTD tea) or carbonated Energy drinks, which are included in Energy Drinks. Carbonated bottled water is also excluded. Carbonates are an aggregation of cola carbonates and non-cola carbonates, whether regular or low calorie. Euromonitor International includes both naturally and artificially-sweetened carbonates.
See All of Our DefinitionsThis report originates from Passport, our Carbonates research and analysis database.
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