Despite fortified/functional (FF) beverages’ clear association with health and wellness, which could have benefitted from the COVID-19 pandemic, the category saw a significant decrease in growth in retail value sales and in volume terms during 2020. The restriction on traditional grocery retailers during the lockdown had a major negative impact on sales of FF beverages.
FF soft drinks in Peru continued to have the largest retail value share in FF beverages in 2020. However, FF soft drinks were negatively affected by the pandemic due to consumers staying at home during the lockdown resulting in fewer of these products being bought on-the-go.
Ajeper SA, which is part of the global Aje Group retained its leadership in fortified/functional beverages in 2020, despite losing some value share. Its brands Volt in FF energy drinks and Sporade in FF sports drinks are leaders in their categories, enabling the company a strong position in the overall category.
With the threat posed by COVID-19 likely to fade in 2021 as the COVID-19 vaccine is rolled out and daily life gradually normalises in Peru, on-the-go consumption is likely to rebound. Nonetheless, the negative economic effect of the pandemic on consumer confidence is likely to linger, so many consumers are likely to remain cautious with regard to discretionary spending.
FF soft drinks are expected to follow the same trend as the FF beverages category as a whole over the forecast period. However, reduced sugar energy drinks is forecast to grow its constant retail value sales over the entire forecast period and see the highest constant CAGR within FF beverages.
As consumers will look for premium and more specific products to address their needs when they return to their hectic lifestyles over the forecast period, manufacturers are expected to pay greater attention to FF bottled water to ensure their growth in the future. As a consequence, product offers in this category from smaller players are increasing yearly, leading to increased value share under “others”.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Fortified/Functional Beverages industry in Peru with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fortified/Functional Beverages industry in Peru, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Fortified/Functional Beverages research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page