Latin America

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,…

Cafés/bars was among the worst-hit consumer foodservice channels when Coronavirus (COVID-19) arrived in the region in 2020, recording a steep sales decline. With outlet closures, home seclusion and travel restrictions still in place at times in 2021,…

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.…

This report assesses the business environment in Uruguay, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

Peru’s business environment is facing a high tax burden as well as a lack of skilled labour and political instability. However, the country ranks among the top third of countries in the Index of Economic Freedom due to its trade and investment…

This report assesses the business environment in Paraguay, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

This report assesses the business environment in Panama, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

Mexico’s economic modernisation are attempts clouded by widespread corruption, low government integrity and lack of ICT investments. Poor education and labour skills alongside intensive brain drain remain among major issues limiting advancements in…

This report assesses the business environment in Honduras, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

This report assesses the business environment in Guatemala, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

This report assesses the business environment in El Salvador, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

This report assesses the business environment in Ecuador, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

This report assesses the business environment in Dominican Republic, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption…

This report assesses the business environment in Costa Rica, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

In 2022, Colombia showed progress in terms of business freedom and financial regulations, and has been attracting FDI, with flexible business regulations for foreign investors. The country’s judicial effectiveness ranking has improved slightly, while…

Chile continues to lead the region and maintain a significant global stance in the Index of Economic Freedom ranking due to its stable macroeconomic environment, strong financial sector, high higher education attainment rates, and well-established…

Brazil ranked behind major regional peers offering slightly worse conditions to start and operate a business. Lack of macroeconomic stability, heavy tax burden and prevailing corruption holds back the country’s competitiveness. Moreover, Brazil…

This report assesses the business environment in Bolivia, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

Argentina struggles to ensure macroeconomic stability and tackle widespread corruption, weighing on the country’s attractiveness for investors. Businesses face challenges to access credit, especially with soaring interest rates, boosting cost of…

The report observes the changing dynamics of loyalty in mobility, focusing specifically on the automotive, shared mobility and car rental industries. It identifies and examines the key themes shaping modern loyalty and how brands should adjust their…

The Buenos Aires in Argentina report provides comprehensive city level information benchmarked against other cities in the country and region. The report includes historic data and forecasts on city population, consumer expenditure, digital…

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.…