Hot Drinks

This report examines inflation levels and drivers globally and in key countries in Q4 2023 and 2024. Global inflation is moderating, although divergence remains among the key economies. Higher volatility in the energy markets and disruption of…

The briefing examines how the coffee commodity is performing globally and in the largest countries in terms of supply and production. The report also provides data and analysis on coffee price dynamics, as well as analysing trends across key…

The global outlook has improved as of Q1 2021, thanks to vaccination progress in many developed countries. Nevertheless, the recovery prospects remain distant for most economies in the face of the spread of new, more infectious variants of the virus.…

The coronavirus (COVID-19) pandemic has triggered the most severe global recession in nearly a century. Businesses are operating in a world of anxieties and uncertainties, not knowing what will be the new normal or when output and consumer spending…

The coronavirus (COVID-19) pandemic has triggered the most severe global recession since World War II. In Q4 2020, the end of the pandemic started as countries began administering effective vaccines among the population; however, vaccine distribution…

In 2023 Argentina is suffering from political dysfunction and soaring inflation, with consumers seeing historically low average income and diminished purchasing power. A severe drought and the upcoming presidential election are further complicating…

Bolivia has managed to protect itself to a large extent from inflation by continuing to have a fixed exchange rate against the dollar. However, there has been challenges for the economy in 2023, with sharp falls in foreign currency reserves and this…

Tea, which was once a rapidly growing category in Brazil, is encountering a slowdown in its retail volume growth, due to evolving consumer preferences and economic shifts. While tea is no longer viewed as an essential commodity by some, there is…

While retail demand for hot drinks was starting to fall in line with a challenging scenario in late 2022, mainly driven by inflation and a worsening economic context, 2023 has been experiencing a deeper decline for most hot drinks in Chile. Tea is a…

While volume sales growth in overall hot drinks remains quite low in 2023, there have been some notable shifts between the off-trade and on-trade. Overall volume sales in foodservice are strong in 2023, supported by the coffee culture, with affluent…

Inflation has taken its toll on hot drinks in Costa Rica, striking the coffee category especially hard in 2022. Conditions were exacerbated by the swift and unexpected appreciation of the colon vis-à-vis the dollar, which created a set of challenging…

Hot drinks has continued to see dynamic growth in 2023 with this being linked largely to the performance of coffee which is the most popular option among Dominicans. Coffee is not only drunk for breakfast, but also at various times of the day, such…

2023 was a year of sustained positive volume growth for Ecuador’s hot drinks industry as each of the two largest categories, coffee and tea, saw rising demand. However, demand for hot drinks increased only marginally, largely due to rising consumer…

Hot drinks registered a decline in retail volume sales in 2024. Despite some recovery, foodservice failed to reach pre-pandemic levels. Coffee is the largest category due to local cultivation and the popularity of specialist coffee shops. This mature…

Guatemala’s economic challenges have been exacerbated by high inflation levels in recent years, with locals becoming more price sensitive as a result. In 2023, Guatemala also experienced political upheaval, as the progressive Bernado Arévalo was…

Hot drinks saw a contraction in retail volume sales in 2023. Moreover, despite some recovery, foodservice failed to reach pre-pandemic levels. Coffee is the largest category due to local cultivation and the popularity of specialist coffee shops. This…

2023 has been a year full of launches in hot drinks, driven by the changing lifestyles of Mexican consumers in the post-COVID-19 period. Amongst the brands to see the most innovation has been Nestlé’s Nescafé, with releases of products for making…

Hot drinks sales achieved strong growth in 2023. While the largest category coffee performed best, growth was not as strong as had been expected. In addition to category maturity, sales were also hampered by significant global price hikes. Economic…

Hot drinks sales experienced modest growth in 2023 with the category resuming pre-pandemic consumption patterns. Other hot drinks, specifically the national drink yerba mate which comprises the majority of industry sales also returned to growth. The…

Amidst a tumultuous period, 2023 was a challenging year for hot drinks in Peru. The upheaval began with the ousting of President Castillo's government following a failed coup in December 2022. This led to widespread disruptions, prolonged protests,…