In 2022, Argentina faces economic instability, with one of the highest inflation rates in the world. Although the gross domestic product is set to see positive growth at the end of 2022, benefiting from the positive impact of agricultural exports, increasing demand in hotels and restaurants, manufacturing and construction, private consumption will continue to evolve at a lower rate.
Following the outbreak of COVID-19, consumers in 2022 have remained focused on health and nutrition, with the pandemic increasing the interest in healthy lifestyles. This growing interest includes food and drink, especially options which benefit the immune system.
Larger players have been better positioned to deal with economic instability and declining purchasing power in 2022. Nestlé Argentina SA remained the leader of the landscape and of coffee and flavoured powder drinks, offering consumers Nescafé, Nesquik, and Nespresso, plus the latest entry of Starbucks.
The government re-introduced its price control program, "Precios Maximos" at the beginning of 2022 to curb rising inflation. This caused strong price pressure on products, with the programme being mainly focused on staples available in supermarkets and hypermarkets, with traditional stores facing less government controls.
During the outbreak of COVID-19, ongoing home seclusion and government lockdowns led to a challenging time for the foodservice industry. As a result, this caused many traditional bars and restaurants to close permanently.
Despite the economic hardship seen in 2022, the long-term outlook for the hot drinks industry remains strong, with most households in Argentina regarding these products as staples. The recovery of the on-trade channel will boost total volume growth, which will help coffee sales in particular.
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Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of Coffee, Tea, and Other Hot Drinks.See All of Our Definitions
This report originates from Passport, our Hot Drinks research and analysis database.
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