In 2024, Brazil’s real GDP expanded by 3.4%, surpassing the Latin American average as strong private and public consumption supported growth. Meanwhile, export weakness, led by machinery and electronics, dragged on trade and faces further pressure from impending US tariffs of up to 50%. Looking ahead to 2024-2029, growth is projected to slow to a 2.0% CAGR, while rising inflation and a widening fiscal deficit highlight persistent macroeconomic vulnerabilities.

In 2024, Brazil's average gross income ranked eighth in Latin America, with per capita disposable income increasing by 3.5% in real terms, driven by economic growth and increasing labour productivity. However, tax and social security contributions were higher than the regional average, and income inequality remained significant, with the top 10% of households holding 40.6% of total disposable income. Despite these challenges, consumer expenditure grew by 3.7% in real terms, supported by digital

In 2024, total confectionery packaging retail volumes in Brazil rose by 3% to reach 12 billion units, driven by shifting consumer preferences and evolving market dynamics. The increasing demand for healthier confectionery options, such as low sugar and organic sweets, prompted manufacturers to launch new product lines, which necessitated updated packaging formats to highlight nutritional benefits and differentiate these products on store shelves. Furthermore, the growth of premium and artisanal

In 2024, total dairy packaging retail volumes in Brazil rose by 1% to 27 billion units. This growth reflected higher dairy production and rising demand for fresh and value-added dairy products, as health-conscious consumers sought convenient, safe, and longer-lasting options. Economic improvements and greater purchasing power also supported increased consumption, while the expansion of retail e-commerce and home delivery services made dairy products more accessible, further boosting packaging ne

In 2024, total retail volumes of baby food packaging in Brazil rose marginally to 337 million units. This development reflected a year characterised by heightened demand for convenient and safe feeding solutions amidst shifting consumer habits. The use of liquid cartons for liquid baby food witnessed a marked increase, as busy parents increasingly sought lightweight, resealable, and easy-to-handle formats. Although glass jars remained favoured for certain prepared baby foods, growth was slower a

In 2024, total processed fruit and vegetables packaging retail volumes in Brazil rose by 3% to reach 2.5 billion units, driven by increasing domestic demand for sustainable and flexible packaging solutions. This growth reflected a shift in consumer preference towards eco-friendly materials, such as paper-based and plant-based plastics, further supported by government regulations targeting single-use plastics. The popularity of flexible packaging formats persisted because of their convenience, co

In 2024, total processed meat and seafood packaging retail volumes in Brazil grew by 3% to 2.7 billion units, driven by several key factors. Urbanisation and increasingly busy lifestyles boosted demand for convenient, ready-to-eat, and ready-to-cook products. Technological advancements, such as High-Pressure Processing (HPP) and Modified Atmosphere Packaging (MAP), improved shelf life and food safety. The expansion of e-commerce and modern retail channels increased the accessibility of processed

Total sweet spreads packaging retail volumes experienced a 3% increase in 2024, reaching 373 million units. This growth reflected rising consumer demand for sweet spreads, driven by evolving taste preferences and a heightened interest in indulgent yet convenient food options. Expansion was supported by a broadening range of product varieties, including traditional jams, fruit preserves, chocolate spreads, and innovative combinations incorporating local ingredients such as açaí and guava. Packagi

In 2024, total plant-based dairy packaging retail volumes in Brazil rose by 1% to 135 million units, driven by a combination of factors. Growing health consciousness and increased awareness of lactose intolerance encouraged more consumers to seek alternatives to traditional dairy products. Moreover, the popularity of vegan and flexitarian diets, particularly among younger and urban populations, contributed to this shift. Environmental and ethical concerns also played a significant role, as consu

In 2024, total retail volumes of sauces, dips and condiments packaging in Brazil increased by 3% to reach 7.9 billion units. This growth was driven by shifting consumer preferences and evolving retail dynamics. The rapid expansion of e-commerce platforms led to higher demand for packaging that was not only durable and tamper-evident, but also suitable for shipping. The changing lifestyles of consumers and their increasing preference for convenience drove the demand for single-serve and easy-to-u

In 2024, total meals and soups packaging retail volumes in Brazil are expected to rise by 4% to reach 1.4 billion units, driven by robust consumer demand fuelled by evolving lifestyles and increasing health consciousness. There is a growing inclination towards convenient, ready-to-eat options, particularly in urban areas, where hectic schedules and compact living spaces significantly influence meal choices. Within soup, consumers showed a heightened interest in natural, organic, and plant-based

Climate concerns remain high in Brazil, with most consumers trying to have a positive impact through their everyday actions. Over half of consumers reduce waste and recycle items, with the main type of sustainability consumer being zero wasters. Investing in recycling claims across the strongest area of beauty and personal care is an opportunity to differentiate goods and add value while appealing to zero wasters. When it comes to shopping preferences, a majority prefer to buy fewer but higher-q

The global economy showed resilience in H1 2025, supported by improved financial conditions, lower energy prices and front-loading exports. However, rising US tariffs and persistent uncertainty are set to constrain growth going forward. Global real GDP growth is forecast to stay at 2.9% in 2025 and 2026, down from 3.3% in 2024. Trade tensions, policy risks and inflationary shifts weigh on outlooks for both advanced and developing economies.

Although relatively stable politically, Brazil continues to suffer from corruption and violent crime that is affecting peace. Economic growth is slowing, owing to high interest rates and rising inflation, but exports remain supportive. Its large population and growing incomes will aid discretionary spending, but challenges remain in tackling obesity. Internet use is solid, whilst the mobile industry is huge, both helping to bridge the urban-rural digital gap, but innovation trails a major peer.

In 2024, toys and games in Brazil saw growth, driven by video games and the kidult trend. The return of traditional toys and games, supported by the ban on mobile phones in schools, especially contributed to increased sales of games and puzzles. Established brands continued to dominate, shaping consumer preferences for trusted quality. The landscape remains fragmented, with a concentration of value sales among the top companies.

Traditional toys and games in Brazil saw decelerated growth in 2024 compared to the previous year, and lower than the regional average. Construction was most dynamic, driven by brand awareness and wide penetration. The kidult trend significantly impacted games and puzzles, while licensed products and e-commerce strategies played crucial roles. The category remains fragmented, with key players adapting to evolving consumer preferences and retail dynamics.

In 2024, video games experienced value growth in Brazil, driven by the innovative environment in video games software, improved affordability, and an increase in casual gamers. Key trends included the shift towards multi-platform gaming and the increasing popularity of subscription services. Increased concentration was seen in the competitive landscape, while e-commerce remained the primary sales channel, as the Pix payment system supports ease of online payment.

Eyewear in Brazil operated under the shadow of persistent macroeconomic challenges over the last year. High interest rates, currency volatility and political uncertainty continued to shape consumer behaviour, leading to a cautious and value-driven retail environment. While inflation started to show signs of stabilisation, purchasing power remained under pressure, and consumers across income levels prioritised affordability and essential purchases over discretionary spending. These dynamics influ

Following a slight deceleration in growth in 2024, spectacles in Brazil is expected to see faster retail volume and current value growth over 2025, compared with 2023 and 2024. 2024 began with conservative expectations due to macroeconomic uncertainties, but the market managed to meet projections by year-end. However, the overall performance reflected a more restrained consumer approach.

2024 was complex for wine in Brazil, despite the low single-digit total volume increase the category experienced during the year. Still red wine, within the largest category of still light grape wine, has been facing structural challenges worldwide due to a combination of socio, environmental and macroeconomic factors, and this situation was no different in Brazil. High USD exchange rates, international trade wars, transportation issues and adverse weather conditions were some of the factors dis

2024 was complex for most Brazilians, especially from an economic perspective. The accumulated inflation rate in Brazil finished at 4.8% in 2024, a marginally higher figure than in 2023. Minimum wages increased at the start of 2024, and in early 2025 were at BRL1,518. Nevertheless, Brazilians’ purchasing power has not evolved for several years, especially due to the ongoing price rises across essential food and beverage items. Despite the challenging macroeconomic context and healthier habits (p

In 2024, total volume sales of cider/perry in Brazil were relatively flat, while total value sales faced mid-single-digit growth, mainly driven by strong price increases. Overall, the category remains extremely niche in Brazil, with no major brands available and with very low penetration across most retailers. The fact that Brazil is predominantly a beer and spirits consuming country, and the continuous expansion of RTDs across different retailers, presents strong competition for cider/perry.

Total volume sales of beer recorded a low single-digit increase in 2024, mainly driven by premium lager, which grew by 4%. In total value terms, premium lager sales grew by double-digit figures. The segment continued to expand shelf presence across both off-trade and on-trade premises, as well as receive strong investments from all beer players in Brazil. Conversely, total volume sales of mid-priced and economy lager marginally decreased in 2024.

Total volume sales of spirits in Brazil only marginally increased in 2024, with the pace of growth consistently decelerating each year. However, gin, vodka and whiskies faced total volume declines in 2024. The former category had experienced an increase in popularity earlier in the review period, which has now softened. The fact that gin is mainly dominated by a small number of brands makes it challenging for newcomers to gain stronger penetration. Vodka also faced another year of total volume d