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Learn moreAug 2018
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Other hot drinks is a traditional category in Latin America with ingredients such as chocolate, mate and cereals being indigenous to the region. Latin America is the largest market in terms of per capita consumption globally and remains fairly consolidated with Nestle in the lead. Growth prospects remain limited due to market saturation and economic downturns, however improving consumer confidence, new product launches and innovation paint a positive picture for other hot drinks in Latin America
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Latin America’s strong other hot drinks market is based on the long-standing consumption of chocolate-based flavoured powder drinks and other plant-based hot drinks. The ingredients used in other hot drinks, such as chocolate, mate and cereals are indigenous to the region, making many of these drinks tied to local customs in terms of preparation and consumption.
Latin America recorded USD3.7 billion in sales of other hot drinks in 2017, ahead of all other global regions except Asia Pacific. The region represents a saturated market with per capita consumption of other hot drinks being the highest globally in 2017. This coupled with economic downturns in key markets such as Brazil has limited growth of other hot drinks in the region over 2012-2017.
Other hot drinks in Latin America is a consolidated market with the top five companies accounting for over half of regional sales. Nestlé, with its key brands Nescau and Nesquik, leads the market in 2017 by a wide sales margin compared to its nearest competitor PepsiCo Inc. Performance of individual countries in the region continues to impact the overall competitive landscape, with markets such as Argentina pushing new brands in the top 10 list over 2012-2017.
Positive growth is forecast for other hot drinks in Latin America. This growth will be driven by an improvement in consumer confidence in Brazil, and further supported by new product launches, product innovation, investment by key market players in ad campaigns and traditional consumption of the product in the region. Flavoured powder hot drinks, the largest category within other hot drinks, is set to be the key engine behind this growth, led by markets such as Brazil, Mexico
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