Latin America

Cat food in Brazil is set to maintain its dynamic retail volume and current value growth trajectory in 2024. The Brazilian economy is showing signs of recovery from the economic crisis caused by the COVID-19 pandemic. For instance, inflationary…

Cat food in Argentina registered strong growth in retail volume terms in 2023, and further growth is expected in 2024, albeit at a lower rate due to a slowdown in cat adoptions as a result of the complex economic situation. Cat owners seem keen to…

The past two years of drought in Uruguay have adversely affected the quality of running water, rendering it unsuitable for human consumption due to its 400mg sodium content. This issue was particularly prevalent in Montevideo, Canelones, and San…

The warmer climate of 2023, attributed to El Niño at the year's onset and in the latter half of the year, resulted in a notable surge in soft drinks consumption. This had a significant impact on carbonates, which consumers perceive as one of their…

Carbonates in Mexico observed a significant increase in value sales in 2023. This was driven by price increases as players responded to inflationary pressures, but also by a shift towards smaller formats as consumers resumed out-of-home activities…

In 2023, carbonates continued to witness retail price increases, although to a lesser extent than in previous years. Commodities such as sugar continued to show volatility in international markets. By April 2023, sugar had reached its highest price…

The 2017 imposition of taxes on sugary beverages has led to the emergence of a price gap between regular cola carbonates and reduced sugar cola carbonates, which has made reduced sugar variants more economically attractive. With high inflation having…

Carbonates continues to see healthy growth in 2023, both in retail volume and value terms. Nonetheless, growth has been slower than in the previous two years with economic pressures taking their toll and pushing some consumers to focus their spending…

Carbonates saw a surprisingly strong sales performance over the review period, in both the off- and on-trade channels, with volume growth remaining positive for the second consecutive year. Consumers have continued to purchase carbonates as unit…

Soft drinks producers have faced mounting challenges due to rising input costs and supply chain disruptions, including soaring energy prices, bottlenecks in the supply chain, and escalating prices of primary packaging materials. Despite experiencing…

Off-trade demand for carbonates in Chile is improving in 2023. Following an abnormal year in 2021 and a more normalised performance in 2022, the category is experiencing a rise in volumes in 2023. Like most categories in 2022 and 2023, carbonates has…

As differentiation in carbonates is becoming harder, and consumers are becoming more price-sensitive, players are searching for competitive advantages, such as looking for new claims and improving cost efficiency related to logistics and…

While carbonates continues to be the most popular soft drink in Bolivia, it has reached maturity and volume growth is expected to be muted in 2023. Continuing population growth supports volume sales. but overall carbonates is expected to be the…

Coca-Cola continues to lead carbonates overall in Argentina in 2023, gaining share thanks to its broad portfolio of brands and flavours. The player dominates cola carbonates, and is leading lemonade/lime, and orange carbonates. Coca-Cola continues to…

The cannabis market in Mexico is estimated to be worth MXN33,650 million, with 95% of it being sold through the illicit market.

Colombia, historically linked with drug trafficking, has undergone a noteworthy transformation by actively cultivating a well-regulated cannabis industry. The legalisation of medical cannabis, the establishment of a legal framework for licensed…

The cannabis culture in Chile is at an intermediate stage of development compared to other countries in Latin America. Since decriminalisation of cannabis for medicinal use in 2016, Chile has witnessed an explosion in “grow shops” and home growing to…

Contrary to expectations, the national government did not advance hemp legislation for medical and industrial purposes in 2023. Instead, it opted to sidestep a potentially contentious debate, prioritising a comprehensive tax reformulation on its…

Argentina faced an uncertain macroeconomic scenario due to political disfunction and economic instability, with one of the highest inflation rates in the world, although according to Comisión Económica para América Latina y Caribe (CEPAL), gross…

Cafés/bars continued to see significant growth in both transactions and current value terms in 2023, particularly in chains, although independence continued to represent the largest percentage of transactions. Growth was driven by the dynamism that…

The quest to attract consumers back to cafés/bars in Mexico is a constant in the channel, which has especially intensified post-pandemic. This has led to the resurgence of various in-person events, such as the Rock Duel at McCarthy's Irish Pub,…

In spite of continuing rising prices in 2023, cafés/bars registered an increase in constant value sales and there was also further opening of new outlets. However, profit margins were under strain, as costs also continued to rise. These rising costs,…

In Chile, the historical hindrances of higher prices, limited accessibility, and inadequate information have impeded the widespread embrace of specialist coffee shops. Despite recent shifts, where specialist coffee shops and roasteries have gained…

Having recovered to pre-pandemic value sales levels in 2022, cafés/bars in Brazil continued to record a positive performance in 2023. An easing of pandemic-related restrictions in Brazil in 2022 fuelled the desire for out-of-home experiences that…

Since the onset of the COVID-19 pandemic Argentina has seen significant growth in independent specialist coffee and tea shops, particularly through small outlets serving customers from a window without tables or seating space, catering more to…

Butter and spreads registered a modest increase in retail volume terms in 2022 and a similar performance is expected in 2023. As a mature category, there is little room for growth in butter and spreads. However, the category experienced high demand…

Even though consumers are increasingly aware of the health benefits of butter, margarine and spreads continues to account for most volume sales and registers the highest value and volume growth in 2023. Consumers are price sensitive, as the economy…

In 2023, inflationary pressures have had a noticeable impact on the price of butter and spreads. This has encouraged some consumers to shift towards lower priced options such as cooking oils which resulted in a slowdown in the growth of butter and…

Butter and spreads is expected to register moderate current value growth, but constant value sales are expected to fall as persistent inflation cuts into profitability. In addition, with persistent inflation, consumers are expected to trade down –…

Butter consumption in Ecuador is relatively low compared to other countries in the region. This is due in part to the availability of cheaper alternatives such as margarine, which are more commonly used for both cooking and baking. Margarine has a…

Butter and spreads is expected to register moderate current value growth and marginal retail volume growth, as inflation still bites. Consumers are expected to continue to be highly price sensitive and prioritise value for money, but at the same time…

Current value sales are expected to increase, along with an overall healthy increase in volume sales. While there is still economic uncertainty, as a result of rising inflation, the growth in inflation is expected to ease. That being said, consumers…

Colombia is facing potential shortages in butter, as a large proportion of milk production is used to produce cheese, yogurt and drinking milk. Dairy producers have struggled to meet demand amid a shortage in milk, especially during the first…

Since the vaccination process against COVID-19 began in Chile and the impact of the pandemic started to wane, the home-cooking dynamic that emerged in 2020, when local consumers were forced to spend considerable time at home, has notably lost…

The Brazilian dairy industry has historically had negative results in its balance of trade. The country’s dairy production has not been sufficient to supply all its needs in terms of dairy products. In the past year, for some categories it has been…

In 2023, the consumption of butter at home is expected to register similar healthy growth levels in sales volumes similar to those registered before the start of the pandemic. That being said, value sales are still low, with margarine and spreads and…

Butter and spreads registered a decline in retail volume sales in 2022, which is set to continue throughout 2023. The decline results from the high level of sales reached in 2020 during the pandemic, with many people preparing home-made meals.…

In 2023, sales of breakfast cereals declined in retail volume and current value terms. The increase in prices, as well as the required health labels, warning about excess levels of sugar, has reduced demand for breakfast cereals. Children´s breakfast…

Breakfast cereals in Peru has undergone a significant transformation in recent years, marked by rapid price increases. With inflation rates in this category surpassing the national average, and a rise in poverty levels since the pandemic, Peruvian…

Retail volume sales of breakfast cereals in Mexico are continuing to gradually increase in 2023. However, the performance varies significantly among the different types. Children's breakfast cereals leads the expansion in 2023, driven by the…

Breakfast cereal is expected to register moderate volume growth, but marginal constant value growth, as inflation continues to hit profit margins. Imported brands in particular are hit by price rises as pressures from energy bills, transport, labour…

Breakfast cereal prices have witnessed a significant rise in 2023, the result of the ongoing inflations and the rising costs of raw materials. Many prominent cereal brands, including Chocapic, Froot Loops, Trix, and Zucaritas, are imported, rendering…

A sustained increase in prices has hindered the recovery of breakfast cereals. Double-digit price increases were recorded in 2022, and inflation continues to impact all categories in 2023, especially children’s cereals and muesli and granola.…

Kids' cereals have long been a popular choice among parents, as they offer a convenient and enjoyable breakfast option for their children. In 2023, innovation from established brands is driving consumer interest, such as General Mill’s Trix Bunnies…

In 2023, hot cereals, muesli, and granola, as product areas, have recorded the most robust sales performance. Hot cereals, primarily oats, along with muesli and granola, have benefited from their healthier attributes when compared to other breakfast…

Inflation and reduced at-home consumption occasions are influencing retail volume sales of breakfast cereals in Chile, shaping the category’s dynamics in profound ways. Inflation is severely impacting the production costs of breakfast cereals.…

In 2023, demand for breakfast cereals in Brazil was impacted by higher input costs that were also observed in different consumer goods categories, especially due to wheat and corn prices, freight constraints and other inputs. The cost-of-living…

Breakfast cereals is expected to register healthy value and volume growth in 2023. With consumers leading increasingly busy lives, the convenience of breakfast cereals supports volume sales. Also, in addition, to family packs, there is an increasing…

In 2022, breakfast cereals in Argentina suffered stagnant sales in volume terms, and in 2023 the category is seeing a marginal decline. This dip is down to the repercussions of the labelling law introduced towards the end of 2021, which has altered…

The drought experienced over the past two years in Uruguay severely impacted the quality of running water, rendering it unsuitable for human consumption due to its high sodium content of 400mg. This affected cities like Montevideo, Canelones, and San…