Hot drinks in 2024: The big picture
Uruguay has experienced a notably stable economic performance, maintaining resilience despite the persistent economic crises in neighbouring Argentina. The Uruguayan economy posted positive growth in 2023, reflecting its ability to weather external economic shocks effectively.
2024 key trends
The hot drinks industry in Uruguay has undergone substantial changes in recent years, particularly following the severe droughts that compromised the quality of tap water in major cities such as Montevideo, Canelones, and San José. During this period, starting in March 2023, tap water contained sodium levels as high as 400mg, making it unsuitable for human consumption until the issue was resolved by September 2023.
Competitive landscape
Canarias SA and Nestlé del Uruguay SA remain the leading players in hot drinks in 2024. Canarias dominates the sector, commanding nearly one-third of off-trade retail value sales, primarily through its extensive yerba mate portfolio.
Retailing developments
The retail landscape in Uruguay has undergone significant transformation, with market concentration increasing in recent years. Falter SRL, the owner of Tienda Inglesa, has expanded aggressively, acquiring local supermarket chains and traditional outlets, thereby solidifying its presence in Montevideo and other regions.
Foodservice vs retail split
On-premise consumption of hot drinks has seen substantial recovery since 2021-2022, reaching pre-pandemic levels by the end of 2022. However, Uruguay’s strong monetary policies have kept the country relatively expensive for tourists, particularly those from Argentina.
What next for hot drinks?
As Uruguay’s economy is projected to grow by 3.5% in 2024, improvements in consumer purchasing power, particularly among middle- and high-income households, are expected to drive demand for hot drinks.
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Overview:
Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Uruguay 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 Uruguay, 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 Uruguay 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 Uruguay?
- To what extent are health considerations impacting consumption of Hot Drinks in Uruguay?
- What are the traditional preferences in Hot Drinks in Uruguay? 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 Uruguay?
- Which are the leading brands in Hot Drinks in Uruguay?
- How are products distributed in Hot Drinks in Uruguay?
- 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 Uruguay
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 Uruguay
KEY DATA FINDINGS
Coffee sales post solid growth
Nestlé dominates coffee sales with Increasing Production Facilities
Online sales are forecast to keep growing driven by Nestlé and Mercado Libre websites
On-trade sales will continue growing driven by the expansion of speciality coffee Shopse
Fresh ground coffee pods will grow at higher speed driven by price competition
Further expansion of e-commerce driven by new consumer shopping behaviour
Tea in Uruguay
KEY DATA FINDINGS
Growing appreciation of tea’s health benefits fuels market expansion
José Aldao retains leadership through strength in black tea
Instituto Botánico La Selva gains traction with diverse tea portfolio
Health and wellness trends sustain tea market growth
Functional benefits reinforce tea’s position in consumer preferences
Speciality tea shops propel on-trade growth
Other Hot Drinks in Uruguay
KEY DATA FINDINGS
Yerba mate faces challenges from Its mature market position
Nestlé Del Uruguay dominates flavoured powder drinks
Canarias maintains leadership in Yerba mate, while La Selva gains ground
Yerba mate faces intensifying competition from health-focused tea
Innovation drives sustained growth in flavoured powder drinks
On-trade sales regain momentum with consumer activity resurgence
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?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Hot Drinks research and analysis database.
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