The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2014
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Latin America was the fastest growing hot drinks market in the review period and will remain so over the forecast period, exceeding all other regions except for Asia Pacific in absolute value growth. Increasing consumption rates will be one factor in future growth as hot drinks’ overall share of throat in Latin America remains low. Demand for premium products that offer innovative formats, specific functions, or appeal to local tastes will also be key to the region’s value growth.
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Latin America was the fastest growing region for hot drinks retail over the review period (2008-2013) and is expected to remain so over the forecast period, increasing by 26% or almost US$4.8 billion between 2013 and 2018. Still, low per capita figures across most Latin American markets demonstrate the potential for even further growth.
Latin America boasts the most diverse hot drinks preferences of any region in the world. In addition to a robust coffee culture, there a strong tradition of other hot drinks consumption both in other-plant based and powdered-based. Such diversity offers growth opportunity for manufacturers across hot drinks categories.
Although coffee accounts for nearly two-thirds of hot drinks consumption in the region, tea is forecasted be the fastest growing hot drinks category. Fruit/herbal teas will make up the bulk of tea sales in the region driven by increased health and wellness concerns and interest in traditional fruits and herbs.
Over the forecast period Brazil is expected to record the largest absolute value growth in coffee in the world. Likewise, Brazil is expected to account for more than half of the region’s tea growth, while it is also the world’s second largest consumer of other hot drinks after China. Although hot drinks consumption is already well-ingrained in Brazil, there remains plenty of opportunity for manufacturers to increase retail occasions and drive value through more premium products.
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