The hot drinks industry in Ecuador performed well during the initial stage of the COVID-19 pandemic as consumers spent more time at home, plus some hot beverages were consumed preventively or to ease symptoms of the virus. Thanks to the advanced vaccination plan in the country during 2021, the effects of COVID-19 were greatly reduced at the beginning of 2022, then the rest of the year was quite stable after the impact of the Omicron variant during the first quarter.
Inflation has had a major impact on some of the industry's products in 2022, including standard fresh ground coffee, which has recorded extremely high price growth. However, many companies have tried to keep prices stable or increases as low as possible in the year in a bid to maintain customers.
The depreciation of the Colombian peso against the dollar has resulted in products from Colombia having a competitive advantage in Ecuador in 2022. With this, the situation has become more challenging for national producers.
There were many small entrants in the fresh coffee and tea categories in 2022. Supermarkets have a growing product range as they look to give entrepreneurs the opportunity to offer their brands in these outlets.
Foodservice sales saw a negative impact due to the pandemic, with a dramatic volume decline in 2020 followed by only partial recovery in 2021. 2022 was the year of a new normality and the return to consumption in the foodservice channel; however, the national strike in June 2022 that lasted 18 days did once again impact on-trade sales.
Ecuadorian consumers are increasingly concerned about the origin of the products they consume and are increasingly demanding new flavours. Satisfying these needs will be essential for players to ensure growth in the different hot drinks categories over the forecast period.
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Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Ecuador 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.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Hot Drinks industry in Ecuador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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