Rising inflation in 2022 has impacted costs and caused supply bottlenecks in the hot drinks category, driving up current value sales. The Uruguayan economy has seen some improvement with unemployment falling and economic activity picking up in 2022.
Falling consumption of yerba maté is impacting the hot drinks category since more than 90% of total hot drinks consumption is from this other plant-based hot drink. Indeed, yerba maté is consumed by Uruguayans of all ages and income levels, but sales are declining as consumers look for alternatives including fruit/herbal tea and green tea.
Canarias SA and Nestlé del Uruguay SA continue to lead coffee and other hot drinks, respectively in 2022, whilst Instituto Botánico La Selva benefits from its wide portfolio of fruit/herbal and traditional medicinal tea. The player is also present in green tea and “other” tea.
Market concentration has increased notably in recent years and intensified in 2022. Ta-Ta became the biggest supermarket chain with the acquisition of Multi Ahorro Hogar in 2021 and wholesaler chain Mayorista in February 2020.
During the COVID-19 pandemic the foodservice sector suffered only a moderate downfall in volume sales, as the Uruguayan government decided not to adopt lockdown measures. However, different sectors had to reduce all or part of their activities (from artistic shows, sports clubs, to tourism activities due to the impact of COVID-19 on tourist numbers), which has a knock-on effect on soft drinks sales in foodservice.
The Uruguayan economy is projected to remain resilient with a firm recovery after the COVID-19 crisis driven by the normalisation of economic activity, a partial recovery of tourism and high demand for its agricultural exports. Total hot drinks consumption will be driven by the improving economic situation for middle- and high-income consumers, whilst rising health and wellness awareness is likely to inform product development in tea and other hot drinks.
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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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