Non-Alcoholic Drinks - LATAM

The Non-Alcoholic Drinks market is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are contributing to this growth.

Customer preferences: Customer preferences play a crucial role in driving the development of the Non-Alcoholic Drinks market. Consumers are increasingly seeking healthier beverage options, leading to a rise in demand for non-alcoholic drinks without sugar. This shift in preferences can be attributed to growing health consciousness, increased awareness about the negative effects of alcohol consumption, and the desire for more diverse and innovative beverage options.

Trends in the market: Trends in the market further contribute to the development of the Non-Alcoholic Drinks market. One prominent trend is the rise of functional beverages. Consumers are looking for drinks that not only quench their thirst but also provide additional health benefits. This has led to the introduction of a wide range of functional beverages such as energy drinks and sports drinks. Another trend is the increasing popularity of premium and artisanal non-alcoholic beverages. Consumers are willing to pay a premium for high-quality, unique, and locally sourced drinks that offer a more personalized and elevated experience.

Local special circumstances: Local special circumstances also play a role in shaping the Non-Alcoholic Drinks market. Cultural and religious factors influence the consumption patterns of non-alcoholic beverages in different regions. Additionally, local ingredients and traditional recipes contribute to the development of unique non-alcoholic beverages that cater to specific regional tastes and preferences.

Underlying macroeconomic factors: Underlying macroeconomic factors further drive the growth of the Non-Alcoholic Drinks market. Rising disposable incomes, urbanization, and changing lifestyles are key factors that contribute to increased consumer spending on beverages. As more people move to urban areas and adopt busier lifestyles, there is a growing demand for convenient and ready-to-drink non-alcoholic beverages. Moreover, the rise of e-commerce and online platforms has made it easier for consumers to access a wide range of non-alcoholic drinks, further fueling market growth.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.