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Juice is the third largest category in soft drinks in global volume sales terms, after bottled water and carbonates. Latin America accounts for 12% of global juice volume, and the region is predicted to register one of the highest volume growth rates over 2017-2022. Demand is being boosted by the trend for healthier lifestyles and the preference for natural products. Despite economic challenges, there remain opportunities for manufacturers in all juice types.
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Mexico ranks first in juice consumption in Latin America, well ahead of Brazil, which in turn has much larger sales than Chile, in third place. Consumers’ purchasing power and the availability of fresh fruit are key drivers of the significant discrepancies between countries.
Consumers are increasingly concerned about their health, and the high obesity rates in some Latin American countries are encouraging consumers to change their dietary habits. As many countries are still facing political and economic uncertainties, however, essential items are being prioritised. Consumers do not always have sufficient incomes to maintain packaged juice consumption, forcing them to reduce their purchasing frequency or migrate to cheaper alternatives, like bottled water and concentrates.
Sales of affordable products have benefited from the negative economic conditions in some countries in the region, while higher added value brands appeal to those looking for functional benefits and higher juice content. This reinforces the importance of a clear market positioning, and explains the difficulties affecting nectars in some countries.
Although the Latin American juice market is highly concentrated among the top 10 companies, there are still plenty of opportunities to be explored by new and smaller players. By targeting niches not addressed by mass brands, these players can compete through differentiation and added value, focusing on new ingredients, functionality, sophisticated packaging and unique experiences.
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