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Learn moreDec 2020
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Due to the impact of the COVID-19 pandemic, there was a huge shift from foodservice to retail consumption of soft drinks in Argentina in 2020. Retail sales were also boosted by initial stockpiling at the start of the crisis.
A lockdown was introduced across Argentina from 20 March 2020. During this time, consumers were required to stay at-home, with only people designated as essential workers being permitted to leave their homes.
Overall, leading players in soft drinks in Argentina faced a bleak year during 2020 due to the slump in demand for their products in the foodservice channel. On-trade sales of soft drinks began declining as soon as the COVID-19 crisis took hold, and then collapsed as the first nationwide quarantine lockdown was implemented.
Mandatory closures of restaurants, cafés, bars and restaurants, in addition to social distancing restrictions during the half of 2020, had a severe impact on soft drinks volume sales. Government lockdown restrictions from March 2020 have thus resulted in notable changes in consumer purchasing behaviour.
Although soft drinks foodservice sales plummeted as a result of the COVID-19 crisis, the consequent shift towards retail sales was somewhat limited as on-trade outlets account for a low share of overall soft drinks sales. However, the shift from foodservice to retail sales had only a slight impact since the on-trade channel accounts for a limited share of total consumption as it is underdeveloped compared to other countries and has suffered from economic instability over the last five years.
The local scale and impact of the COVID-19 outbreak are not yet clear, although Argentina has recorded a higher number of infections and deaths than many of its neighbours, including Brazil, Colombia and Chile. Around one third of the population is currently living in poverty, with many industries scaling back, resulting in an increase in unemployment and considerably lower purchasing power.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Soft Drinks industry in Argentina with research from Euromonitor's team of in-country analysts.
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If you're in the Soft Drinks industry in Argentina, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Soft Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.