While the pandemic, when it first hit the region, resulted in a slight decline in off-trade volume sales of soft drinks and a steep fall in on-trade volumes in Latin America in 2020, both channels have since been recording positive growth, including in 2023. With Latin America having the biggest regional carbonates market, this category dominates sales and plays a major role in the overall soft drinks performance, which is expected to be a positive one over the forecast period.
This report comes in PPT.
Latin America has the biggest regional market for off-trade volume sales of carbonates, with the second and third biggest country markets in Mexico and Brazil (behind only the US), and the top three countries in per capita terms in Chile, Mexico and Argentina. Since the pandemic-affected year of 2020, carbonates have been recording healthy off-trade volume growth.
The National Association of Soft Drink and Carbonated Water Producers (ANPRAC) has become the Mexican Beverage Association (MexBeb). MexBeb aims to drive several industry goals to 2030, including increasing water use efficiency, reducing carbon footprint, expanding the offering of low-calorie products, and promoting a circular economy.
Small local grocers continue to be the most important distribution channel in most countries in Latin America as well as the region as whole. Discounters and atacarejo outlets have been benefiting from the high inflation putting pressure on households’ purchasing power in recent years. E-commerce remains a minor channel for retail sales of soft drinks in Latin America.
The Colombian government introduced a new 10% “health tax” on food and drink products that have high levels of sugar. The tax is slated to see further rises of 5% in each of 2024 and 2025, as the country looks to tackle its increasing obesity problem. Black warning octagons had already been compulsory on the packaging of unhealthy products for a number of years.
This is the aggregation of the following categories; Carbonates, Fruit/vegetable juice, Bottled water, Functional drinks, Concentrates, RTD tea, RTD coffee and Asian speciality drinks.
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