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Strong Economic Indicators and a Reduction In Smuggling Of Goods From Argentina Bolster Sales Of Soft Drinks
The country’s GDP grew 3.6% in 2025, placing Paraguay among the strongest economies in the region. In this regard, the World Bank (WB) updated its global economic projections and placed Paraguay as the second-fastest-growing economy in the year, behind Argentina. Consequently, income levels rose and living standards improved once more, resulting in further expansion of the middle class and a further erosion of poverty. Meanwhile, soft drinks sales experienced moderate growth during 2025. In addition to these positive economic indicators, there was also a significant decrease in contraband since 2024. This was caused by Argentina’s transformation programme led by Milei and subsequent appreciation of the Argentine peso, which made products in Argentina more expensive. This favoured the local industry and a notable decrease in cross-border shopping in 2024 and 2025. In terms of the on-trade, weak recovery continued with pre-pandemic levels only likely to be reached in 2026. Nevertheless, more people started to eat out again which is leading to growth in the number of restaurants and food choices available. This is particularly true in Asunción and its surrounding cities, as well as border cities, such as Ciudad del Este and Encarnación. Growth in foodservice, however, is much slower in rural areas.
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Overview:
Understand the latest market trends and future growth opportunities for the Soft Drinks industry in Paraguay 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:
- Bottled Water
- Carbonates
- Concentrates
- Juice
- RTD Coffee
- RTD Tea
- Energy Drinks
- Sports Drinks
- Asian Speciality Drinks
If you're in the Soft Drinks industry in Paraguay, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Soft Drinks in Paraguay 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 Soft Drinks in Paraguay?
- To what extent are health considerations impacting consumption of Soft Drinks in Paraguay?
- How are changing social attitudes and legislation (eg sugar tax) reshaping demand and consumption?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Soft Drinks in Paraguay?
- Which are the leading brands in Soft Drinks in Paraguay?
- What potential exists for multinational or domestic soft drinks companies to expand in Paraguay?
- How are products distributed in Soft Drinks in Paraguay?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How have home seclusion and social distancing measures following COVID-19 impacted sales of Soft Drinks?
- How are sustainability issues, such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, impacting the soft drinks industry?
- Where is future growth expected to be most dynamic?
Soft Drinks in Paraguay
Strong Economic Indicators and a Reduction In Smuggling Of Goods From Argentina Bolster Sales Of Soft Drinks
KEY DATA FINDINGS
Climate Change Boosts Demand For Thirst-Quenching Soft Drinks
Rising Health Awareness Benefits Bottled Water While Functional Drinks Gain Momentum
Soft Drinks Is Both Positively And Negatively Impacted By Climate Change
Moderate Growth Of Soft Drinks Over The Forecast Period
Health And Wellness And Functionality Characterise Soft Drinks In The Forecast Period
Retail E-Commerce Maintains A Positive Growth Trajectory
The Coca-Cola Co Through Paraguay Refrescos Maintains A Strong Lead In Soft Drinks
Nestlé Paraguay SA Achieves Strong Growth In 2025
Small Local Grocers Are Ubiquitous In The Country
Table 1 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2020-2025
Table 2 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2020-2025
Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2020-2025
Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2020-2025
Table 5 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2025
Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2025
Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2025
Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2025
Table 9 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2020-2025
Table 10 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2020-2025
Table 11 Off-trade Sales of Soft Drinks by Category: Value 2020-2025
Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth 2020-2025
Table 13 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2021-2025
Table 14 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2022-2025
Table 15 NBO Company Shares of Off-trade Soft Drinks: % Value 2021-2025
Table 16 LBN Brand Shares of Off-trade Soft Drinks: % Value 2022-2025
Table 17 Penetration of Private Label in Off-trade Soft Drinks (RTD) by Category: % Volume 2020-2025
Table 18 Penetration of Private Label in Off-trade Soft Drinks by Category: % Value 2020-2025
Table 19 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume 2020-2025
Table 20 Distribution of Off-trade Soft Drinks (as sold) by Format and Category: % Volume 2025
Table 21 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2025-2030
Table 22 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2025-2030
Table 23 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2025-2030
Table 24 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2025-2030
Table 25 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2025-2030
Table 26 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2025-2030
Table 27 Forecast Off-trade Sales of Soft Drinks by Category: Value 2025-2030
Table 28 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 2025-2030
COUNTRY REPORTS DISCLAIMER
Key Data Findings
2025 Developments
Carbonates continues growing but loses consumers to bottled water, particularly flavoured bottled water
Industry Performance
Many consumers remain heavy consumers of carbonates despite the health and wellness trend
Synergy between alcoholic and non-alcoholic drinks benefits sales of tonic water/mixers/other bitters
What’s Next?
Slowing growth of carbonates sales as consumers switch to bottled water and healthy juices
Better For You Trend Continues To Shape The Category
Sustainability Investment Is Driven By Growing Environmental Concerns
Competitive Landscape
Coca-Cola retains its total domination of carbonates sales
Strong growth for PepsiCo thanks to a recent joint venture between CCU and Grupo Vierci
Channels
Small local grocers accounts for the largest share of carbonates
Strong growth of convenience stores thanks to the Biggie chain
Category Data
Table 29 Off-trade vs On-trade Sales of Carbonates: Volume 2020-2025
Table 30 Off-trade vs On-trade Sales of Carbonates: Value 2020-2025
Table 31 Off-trade vs On-trade Sales of Carbonates: % Volume Growth 2020-2025
Table 32 Off-trade vs On-trade Sales of Carbonates: % Value Growth 2020-2025
Table 33 Off-trade Sales of Carbonates by Category: Volume 2020-2025
Table 34 Off-trade Sales of Carbonates by Category: Value 2020-2025
Table 35 Off-trade Sales of Carbonates by Category: % Volume Growth 2020-2025
Table 36 Off-trade Sales of Carbonates by Category: % Value Growth 2020-2025
Table 37 NBO Company Shares of Off-trade Carbonates: % Volume 2021-2025
Table 38 LBN Brand Shares of Off-trade Carbonates: % Volume 2022-2025
Table 39 NBO Company Shares of Off-trade Carbonates: % Value 2021-2025
Table 40 LBN Brand Shares of Off-trade Carbonates: % Value 2022-2025
Table 41 Forecast Off-trade Sales of Carbonates by Category: Volume 2025-2030
Table 42 Forecast Off-trade Sales of Carbonates by Category: Value 2025-2030
Table 43 Forecast Off-trade Sales of Carbonates by Category: % Volume Growth 2025-2030
Table 44 Forecast Off-trade Sales of Carbonates by Category: % Value Growth 2025-2030
Key Data Findings
2025 Developments
Juice consumption increases driven by 100% juices
Industry Performance
100% juice experiences a surge in popularity
The wide availability of fresh fruit in the country limits sales of packaged juice
What’s Next?
Juice sales continue growing driven by 100% juice
Product innovations in vegetable-infused juice appear over the forecast period
Climate change reduces the further expansion of juices
Competitive Landscape
Watt’s remains the undisputed leader in 2025
Paraguay Refrescos SA achieves strong growth with the Del Valle brand
Channels
Small local grocers retains its strong lead in the distribution of juice sales
Strong growth of supermarkets thanks to advertising and scope to stock a wider product range
Category Data
Table 45 Off-trade Sales of Juice by Category: Volume 2020-2025
Table 46 Off-trade Sales of Juice by Category: Value 2020-2025
Table 47 Off-trade Sales of Juice by Category: % Volume Growth 2020-2025
Table 48 Off-trade Sales of Juice by Category: % Value Growth 2020-2025
Table 49 NBO Company Shares of Off-trade Juice: % Volume 2021-2025
Table 50 LBN Brand Shares of Off-trade Juice: % Volume 2022-2025
Table 51 NBO Company Shares of Off-trade Juice: % Value 2021-2025
Table 52 LBN Brand Shares of Off-trade Juice: % Value 2022-2025
Table 53 Forecast Off-trade Sales of Juice by Category: Volume 2025-2030
Table 54 Forecast Off-trade Sales of Juice by Category: Value 2025-2030
Table 55 Forecast Off-trade Sales of Juice by Category: % Volume Growth 2025-2030
Table 56 Forecast Off-trade Sales of Juice by Category: % Value Growth 2025-2030
Key Data Findings
2025 Developments
Bottled water sales register upbeat growth driven by higher demand of natural healthier beverages
Industry Performance
Still flavoured bottled water experiences an increase in popularity
Rising health consciousness as well as affordability and on-the-go convenience boost sales of bottled water
What’s Next?
Further sales growth of bottled water as some consumers switch from carbonates
Flavoured water captures carbonates consumers through flavour innovation and reduced sugar variants
Climate change fuels further development of bottled water sales
Competitive Landscape
Seltz leads sales with Paraguay Refrescos showing good results through Dasani and Benedictino
Paraguay Refrescos SA enjoys strong growth thanks to a widening of its distribution network
Channels
Small local grocers retains its outright share of bottled water sales
Rapid growth for the nascent convenience stores channel
Category Data
Table 57 Off-trade Sales of Bottled Water by Category: Volume 2020-2025
Table 58 Off-trade Sales of Bottled Water by Category: Value 2020-2025
Table 59 Off-trade Sales of Bottled Water by Category: % Volume Growth 2020-2025
Table 60 Off-trade Sales of Bottled Water by Category: % Value Growth 2020-2025
Table 61 NBO Company Shares of Off-trade Bottled Water: % Volume 2021-2025
Table 62 LBN Brand Shares of Off-trade Bottled Water: % Volume 2022-2025
Table 63 NBO Company Shares of Off-trade Bottled Water: % Value 2021-2025
Table 64 LBN Brand Shares of Off-trade Bottled Water: % Value 2022-2025
Table 65 Forecast Off-trade Sales of Bottled Water by Category: Volume 2025-2030
Table 66 Forecast Off-trade Sales of Bottled Water by Category: Value 2025-2030
Table 67 Forecast Off-trade Sales of Bottled Water by Category: % Volume Growth 2025-2030
Table 68 Forecast Off-trade Sales of Bottled Water by Category: % Value Growth 2025-2030
Key Data Findings
2025 Developments
Sports drinks continues to show strong development driven by a resurgence in health and fitness
Industry Performance
Sports drinks remains more popular than energy drinks
Growing consumer base and widening distribution channels boost consumer accessibility to sports drinks
What’s Next?
Sales grow further driven by wellness and functionality
Oral replenishments expand the consumer base towards new consumption occasions
Better for you emerges over the forecast period
Competitive Landscape
Gatorade solidifies its leadership through product innovation
The Coca-Cola Co registers the strongest growth thanks to its Powerade brand
Channels
Food/drink/tobacco specialists retains the lead although competition intensifies
Convenience stores registers the strongest growth from a low base
Category Data
Table 69 Off-trade Sales of Sports Drinks: Volume 2020-2025
Table 70 Off-trade Sales of Sports Drinks: Value 2020-2025
Table 71 Off-trade Sales of Sports Drinks: % Volume Growth 2020-2025
Table 72 Off-trade Sales of Sports Drinks: % Value Growth 2020-2025
Table 73 NBO Company Shares of Off-trade Sports Drinks: % Volume 2021-2025
Table 74 LBN Brand Shares of Off-trade Sports Drinks: % Volume 2022-2025
Table 75 NBO Company Shares of Off-trade Sports Drinks: % Value 2021-2025
Table 76 LBN Brand Shares of Off-trade Sports Drinks: % Value 2022-2025
Table 77 Forecast Off-trade Sales of Sports Drinks: Volume 2025-2030
Table 78 Forecast Off-trade Sales of Sports Drinks: Value 2025-2030
Table 79 Forecast Off-trade Sales of Sports Drinks: % Volume Growth 2025-2030
Table 80 Forecast Off-trade Sales of Sports Drinks: % Value Growth 2025-2030
Key Data Findings
2025 Developments
Upbeat growth of energy drinks fuelled by young adults
Industry Performance
Consumption mainly seen among young people seeking wakefulness
Reduced sugar energy drinks grow in popularity
What’s Next?
Energy drinks sales grow further driven by demand for functional value-added brands
Better-for-you energy drinks widen the consumer base
Surge of plant-based energy drinks due to the long tradition of yerba mate in the country
Competitive Landscape
Dark Dog leads sales with Red Bull increasingly driven by intense advertising activity
Red Bull achieves the strongest growth
Channels
Supermarkets retains the strongest share in energy drinks
Small local grocers and convenience stores achieve strong growth in energy drinks
Category Data
Table 81 Off-trade Sales of Energy Drinks: Volume 2020-2025
Table 82 Off-trade Sales of Energy Drinks: Value 2020-2025
Table 83 Off-trade Sales of Energy Drinks: % Volume Growth 2020-2025
Table 84 Off-trade Sales of Energy Drinks: % Value Growth 2020-2025
Table 85 NBO Company Shares of Off-trade Energy Drinks: % Volume 2021-2025
Table 86 LBN Brand Shares of Off-trade Energy Drinks: % Volume 2022-2025
Table 87 NBO Company Shares of Off-trade Energy Drinks: % Value 2021-2025
Table 88 LBN Brand Shares of Off-trade Energy Drinks: % Value 2022-2025
Table 89 Forecast Off-trade Sales of Energy Drinks: Volume 2025-2030
Table 90 Forecast Off-trade Sales of Energy Drinks: Value 2025-2030
Table 91 Forecast Off-trade Sales of Energy Drinks: % Volume Growth 2025-2030
Table 92 Forecast Off-trade Sales of Energy Drinks: % Value Growth 2025-2030
Key Data Findings
2025 Developments
Modest increase of powder concentrates targeting low- and middle-income groups
Industry Performance
Powder concentrates remains the dominant category
Orange is the most popular flavour followed by mixed fruit flavours
What’s Next?
Sales continue growing driven by low-priced convenient options
Natural ingredients are key to sustaining growth
Growing concerns over tap water hinder sales
Competitive Landscape
Paraguay Trading commands sales with intense product innovation
Modinar Paraguay SA records the strongest growth
Small local grocers accounts for the majority of sales but loses ground to convenience stores
Conveniences stores develop in Paraguay thanks to the expansion of the Biggie chain
Summary 1 Concentrates Conversion Factors for Ready-to-Drink (RTD) Format
Category Data
Table 93 Off-trade Sales of Concentrates (RTD) by Category: Volume 2020-2025
Table 94 Off-trade Sales of Concentrates by Category: Value 2020-2025
Table 95 Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2020-2025
Table 96 Off-trade Sales of Concentrates by Category: % Value Growth 2020-2025
Table 97 NBO Company Shares of Off-trade Concentrates (RTD): % Volume 2021-2025
Table 98 LBN Brand Shares of Off-trade Concentrates (RTD): % Volume 2022-2025
Table 99 NBO Company Shares of Off-trade Concentrates: % Volume 2021-2025
Table 100 LBN Brand Shares of Off-trade Concentrates: % Volume 2022-2025
Table 101 NBO Company Shares of Off-trade Concentrates: % Value 2021-2025
Table 102 LBN Brand Shares of Off-trade Concentrates: % Value 2022-2025
Table 103 NBO Company Shares of Off-trade Liquid Concentrates (RTD): % Volume 2021-2025
Table 104 LBN Brand Shares of Off-trade Liquid Concentrates (RTD): % Volume 2022-2025
Table 105 NBO Company Shares of Off-trade Liquid Concentrates: % Volume 2021-2025
Table 106 LBN Brand Shares of Off-trade Liquid Concentrates: % Volume 2022-2025
Table 107 NBO Company Shares of Off-trade Powder Concentrates (RTD): % Volume 2021-2025
Table 108 LBN Brand Shares of Off-trade Powder Concentrates (RTD): % Volume 2022-2025
Table 109 NBO Company Shares of Off-trade Powder Concentrates: % Volume 2021-2025
Table 110 LBN Brand Shares of Off-trade Powder Concentrates: % Volume 2022-2025
Table 111 Forecast Off-trade Sales of Concentrates (RTD) by Category: Volume 2025-2030
Table 112 Forecast Off-trade Sales of Concentrates by Category: Value 2025-2030
Table 113 Forecast Off-trade Sales of Concentrates (RTD) by Category: % Volume Growth 2025-2030
Table 114 Forecast Off-trade Sales of Concentrates by Category: % Value Growth 2025-2030
Key Data Findings
2025 Developments
Niche RTD coffee experiences double-digit growth driven by convenience and functionality
Industry Performance
RTD coffee players capitalise on seasonal consumption patterns
Sales of iced coffee grow driven by younger generations
What’s Next?
Sales continue expanding with new players making an entrance
Reduced sugar or lactose-free variants provide the category with some impetus
Higher unit prices of RTD coffee compares to other categories of soft drinks dampen forecast period growth
Competitive Landscape
Nestlé Paraguay SA retains the outright lead in RTD coffee expanding its brand to a wider scope
Nestlé Paraguay is also the most dynamic company in 2025
Channels
Supermarkets command strong share
Convenience stores makes great gains
Category Data
Table 115 Off-trade Sales of RTD Coffee: Volume 2020-2025
Table 116 Off-trade Sales of RTD Coffee: Value 2020-2025
Table 117 Off-trade Sales of RTD Coffee: % Volume Growth 2020-2025
Table 118 Off-trade Sales of RTD Coffee: % Value Growth 2020-2025
Table 119 NBO Company Shares of Off-trade RTD Coffee: % Volume 2021-2025
Table 120 LBN Brand Shares of Off-trade RTD Coffee: % Volume 2022-2025
Table 121 NBO Company Shares of Off-trade RTD Coffee: % Value 2021-2025
Table 122 LBN Brand Shares of Off-trade RTD Coffee: % Value 2022-2025
Table 123 Forecast Off-trade Sales of RTD Coffee: Volume 2025-2030
Table 124 Forecast Off-trade Sales of RTD Coffee: Value 2025-2030
Table 125 Forecast Off-trade Sales of RTD Coffee: % Volume Growth 2025-2030
Table 126 Forecast Off-trade Sales of RTD Coffee: % Value Growth 2025-2030
The following categories and subcategories are included:
Soft Drinks
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-
- Carbonated Natural Mineral Bottled Water
- Carbonated Spring Bottled Water
- Carbonated Purified Bottled Water
-
- Still Flavoured Bottled Water
- Sparkling Flavoured Bottled Water
- Functional Bottled Water
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- Still Natural Mineral Bottled Water
- Still Spring Bottled Water
- Still Purified Bottled Water
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-
- Regular Carbonates
- Reduced Sugar Carbonates
-
- Regular Cola Carbonates
- Reduced Sugar Cola Carbonates
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- Regular Non-Cola Carbonates
- Reduced Sugar Non-Cola Carbonates
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- Regular Lemonade/Lime
- Reduced Sugar Lemonade/Lime
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- Regular Tonic Water/Mixers/Other Bitters
- Reduced Sugar Tonic Water/Mixers/Other Bitters
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- Regular Orange Carbonates
- Reduced Sugar Orange Carbonates
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- Regular Other Non-Cola Carbonates
- Reduced Sugar Other Non-Cola Carbonates
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- Liquid Concentrates
- Powder Concentrates
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- Not from Concentrate 100% Juice
- Reconstituted 100% Juice
- Coconut and Other Plant Waters
- Juice Drinks (up to 24% Juice)
- Nectars
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- RTD Coffee
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- Carbonated RTD Tea and Kombucha
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- Regular Still RTD Tea
- Reduced Sugar Still RTD Tea
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- Regular Energy Drinks
- Reduced Sugar Energy Drinks
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- Regular Sports Drinks
- Reduced Sugar Sports Drinks
- Asian Speciality Drinks
Soft Drinks
This is the aggregation of the following categories; Carbonates, Fruit/vegetable juice, Bottled water, Functional drinks, Concentrates, RTD tea, RTD coffee and Asian speciality drinks.
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This report originates from Passport, our Soft Drinks research and analysis database.
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