The national lockdown throughout Argentina in response to COVID-19 and the introduction of social distancing measures to fight the spread of the virus has strongly impacted sales of other hot drinks via foodservice. Indeed, foodservice chocolate-based flavoured powder drinks sales have been particularly strongly hit as they dominate sales through this channel due to the decline in out-of-home social occasions.
Other plant-based hot drinks is dominated by yerba mate, which remains popular among consumers due to its cheap price and traditional image. Nevertheless, demand for other hot drinks declined in 2020 as low and middle income consumers saw reduced spending power due to the impact of COVID-19.
Other hot drinks continues to be dominated by Establecimiento Las Mari´as and Molinos Ri´o de la Plata. This is due to their strong sales shares in other plant-based hot drinks and well-known yerba mate brands.
As long as the economy continues to recover, consumption of other hot drinks will rebound over the forecast period, with it likely to take until the end of 2022 before retail consumption recovers from the ongoing COVID-19 crisis. Foodservice consumption has been hit even harder and is not expected to reach pre-COVID-19 levels until the end of 2023.
Other plant-based hot drinks, primarily yerba mate, is projected to record growth over the forecast period. Due to its low price positioning, yerba mate sees increased demand during more difficult times, with the category set to post a moderate rebound and reach pre-COVID-19 crisis levels by mid-2023.
For much of the review period, promotional activity for other hot drinks remained very limited. However, growing interest in yerba mate encouraged Establecimiento Las Marías to invest more heavily in promotion, both for leading brand Taragüi and newer launches such as Mañanita BCP.
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