Hot drinks in 2024: The big picture
Hot drinks in Peru is showing signs of recovery in 2024, rebounding from a challenging 2023. Last year, consumption was notably affected by exceptionally high temperatures linked to the global El Niño phenomenon, which lessened the perceived need for hot drinks.
2024 key trends
The high temperatures experienced in the first quarter of 2024, again due to the global El Niño phenomenon, have prompted hot drink brands to promote cold versions of their products. This strategy seeks to leverage the surge in soft drink consumption, as consumers look for hydrating options during the heatwave.
Competitive landscape
Mass-market brands have increased their market presence, particularly in the tea category. The leading brand, Herbi, has shown resilience and stable results, contrasting with some competitors who faced notable declines in 2023.
Retailing developments
Economic constraints and a focus on savings have increased the relevance of traditional retail channels, especially small local grocers, in 2024. These stores are capturing market share from modern channels by offering a wider variety of products, appealing to consumers with traditional tastes.
Foodservice vs retail split
Hot drinks is benefiting from a return to more regular, in-person activities. As work and study routines normalise, the on-trade channel has seen a resurgence, with new cafés and restaurants opening nationwide.
What next for hot drinks?
The industry anticipates a moderate economic recovery, which should support further growth across hot drink categories. Expected stabilisation of temperatures as the El Niño phenomenon subsides could also boost demand, with colder weather likely driving more hot drink consumption.
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Overview:
Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Peru with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Coffee
- Tea
- Other Hot Drinks
If you're in the Hot Drinks industry in Peru, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Hot Drinks in Peru report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Hot Drinks in Peru?
- To what extent are health considerations impacting consumption of Hot Drinks in Peru?
- What are the traditional preferences in Hot Drinks in Peru? To what extent are these tastes changing amidst increasing international influence and the growth of chained cafés?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Hot Drinks in Peru?
- Which are the leading brands in Hot Drinks in Peru?
- How are products distributed in Hot Drinks in Peru?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Hot Drinks?
- Where is future growth expected to be most dynamic?
Hot Drinks in Peru
Hot drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for hot drinks?
DISCLAIMER
Coffee in Peru
KEY DATA FINDINGS
Recovery following a challenging 2023
Dominance of large brands challenges small producers focused on exports
Growth in cold instant coffee consumption driven by promotion efforts
Increased relevance of convenience stores for on-premise consumption
Continued expansion of on-trade channels across Peru
Nespresso launch expected to revitalise coffee pods market
Tea in Peru
KEY DATA FINDINGS
Category recovers growth due to colder temperatures in the second half of the year
Black tea bags gain more ground given the economic context of recession
Brands boost cold consumption of Cold Tea
Herbal/traditional medicines teas with much potential for growth
Convenience stores gain relevance in their on-premise offer
Changes in perception of health claims affect green tea outlook
Other Hot Drinks in Peru
KEY DATA FINDINGS
Category recovers growth after a challenging 2023
Rising cocoa costs affect company margins
Nestlé promotes cold consumption of hot beverages
Nutritional value to gain importance in consumer choices
Pricing strategy as a competitive advantage
On-trade channels provide growth potential
The following categories and subcategories are included:
Hot Drinks
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- Fresh Coffee Beans
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- Fresh Ground Coffee Pods
- Standard Fresh Ground Coffee
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- Instant Standard Coffee
- Instant Coffee Mixes
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- Loose Black Tea
- Tea Bags Black
- Fruit/Herbal Tea
- Green Tea
- Instant Tea
- Other Tea
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- Chocolate-based Flavoured Powder Drinks
- Malt-based Hot Drinks
- Non-Chocolate-based Flavoured Powder Drinks
- Other Plant-based Hot Drinks
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Why buy this report?
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This report originates from Passport, our Hot Drinks research and analysis database.
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