Argentina’s economy faced an unstable situation in the second quarter of 2018, originating from interest rate hikes by the US Federal Reserve, which fortified the US dollar worldwide and caused the Argentinian peso to drop against the dollar, due to investors’ concerns about the government’s ability to control inflation. The depreciation made Argentina’s dollar debts more expensive for the government, encouraging it to turn to the International Monetary Fund (IMF) for a USD50 billion loan.
Awareness regarding the benefits of consuming healthy food and beverages played a favourable role in health and wellness in Argentina in 2018. NH 100% juice experienced expansion through flavour extensions and packaging innovations.
Towards the end of the review period, the dominance of the leading multinational companies such as Coca-Cola Argentina SA, Danone Argentina SA and Mondelez Argentina was challenged by the growth of regional and independent soft drinks manufacturers.
With local consumers looking to save money during economic hardship due to high inflation, they looked to discounters which continued to gradually gain value share. Therefore, consumers’ purchasing power declined notably, and they began to frequently visit independent small grocers and discounters to reduce their bills.
The government predicts that the economic crisis will revert partially in 2019, where GDP will decrease by 0.8%, leading to slow recovery for the economy when the effectiveness of the adjustment plan to reduce the fiscal deficit begins.
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Discover the latest market trends and uncover sources of future market growth for the Health and Wellness industry in Argentina with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Health and Wellness market research database.