The Bolivian economy recorded a slowdown in 2018 for the third consecutive year, leading to consumers becoming more cautious with their spending on foods and beverages. As a result of this situation, manufacturers kept their prices stable or even reduced them so as to maintain their consumer base.
Hot drinks manufacturers in Bolivia are taking advantage of changing lifestyles. For example, the inclusion of women in the workforce has forced families to look for easier and more convenient alternatives for a nutritional breakfast.
The hot drinks competitive environment in Bolivia remained fragmented in 2018, with four major companies together accounting for a half of overall value sales thanks to their strength in key categories, such as instant coffee, tea and fresh ground coffee. Nestlé Bolivia remained the leading player overall thanks to its dominance in instant coffee and longstanding presence in the country.
Nestlé Bolivia has focused its efforts on making its instant coffee products more accessible by introducing smaller pack sizes due to consumers’ limited budgets. Indeed, these smaller pack sizes are not suffering from the smuggling activities which are affecting larger packs.
Different factors will help the hot drinks industry to record stronger value growth over the forecast period when compared to the review period. These will include trends such as a rising number of more sophisticated consumers demanding more functional products as well as more hot drinks made from healthier ingredients and without any added sugar.
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This industry report originates from Passport, our Hot Drinks market research database.