Latin America and the Caribbean: Soft Drink Market 2024

Soft Drink Market Size in Latin America and the Caribbean

The Latin American soft drink market stood at $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Soft Drink Production in Latin America and the Caribbean

In value terms, soft drink production dropped slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Soft Drink Exports

Exports in Latin America and the Caribbean

In 2022, approx. X litres of soft drinks were exported in Latin America and the Caribbean; falling by X% compared with the year before. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X litres, and then shrank in the following year.

In value terms, soft drink exports expanded significantly to $X in 2022. Over the period under review, exports, however, posted resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Mexico was the major exporter of soft drinks in Latin America and the Caribbean, with the volume of exports accounting for X litres, which was approx. X% of total exports in 2022. Guatemala (X litres) ranks second in terms of the total exports with a X% share, followed by El Salvador (X%), Trinidad and Tobago (X%) and Costa Rica (X%). The following exporters - Nicaragua (X litres) and Brazil (X litres) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to soft drink exports from Mexico stood at X%. At the same time, El Salvador (X%), Nicaragua (X%), Brazil (X%), Trinidad and Tobago (X%), Costa Rica (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. El Salvador (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Guatemala saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest soft drink supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports. It was followed by El Salvador, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (X% per year) and El Salvador (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per litre, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. Over the period under review, the export prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Trinidad and Tobago ($X per litre) and Mexico ($X per litre), while El Salvador ($X per litre) and Guatemala ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Soft Drink Imports

Imports in Latin America and the Caribbean

In 2022, approx. X litres of soft drinks were imported in Latin America and the Caribbean; surging by X% against the year before. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, soft drink imports surged to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Guatemala (X litres), Honduras (X litres), Chile (X litres), Brazil (X litres), El Salvador (X litres), Panama (X litres), Mexico (X litres), the Dominican Republic (X litres), Nicaragua (X litres), Suriname (X litres), Jamaica (X litres) and Guyana (X litres) was the largest importer of soft drinks in Latin America and the Caribbean, achieving X% of total import. Costa Rica (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soft drink importing markets in Latin America and the Caribbean were Chile ($X), Brazil ($X) and Guatemala ($X), together comprising X% of total imports. The Dominican Republic, Mexico, Panama, Honduras, El Salvador, Costa Rica, Nicaragua, Jamaica, Guyana and Suriname lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Panama, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per litre, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per litre), while Honduras ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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