Non-Alcoholic Drinks - Chile

The Non-Alcoholic Drinks market in Chile has been experiencing significant growth in recent years.

Customer preferences: Chilean consumers have shown a growing preference for healthier beverage options, which has contributed to the growth of the Non-Alcoholic Drinks market. As more people become health-conscious, they are seeking alternatives to sugary carbonated drinks and alcoholic beverages. This has led to an increased demand for natural and low-calorie drinks such as flavored water, herbal teas, and functional beverages. Additionally, the younger generation in Chile is more open to trying new and innovative drinks, creating opportunities for niche and specialty products.

Trends in the market: One of the key trends in the Non-Alcoholic Drinks market in Chile is the rise of functional beverages. These are drinks that offer additional health benefits beyond hydration. Functional beverages can include ingredients such as vitamins, minerals, probiotics, and antioxidants. Chilean consumers are increasingly looking for drinks that not only quench their thirst but also provide them with added nutritional value. This trend is driven by the growing awareness of the importance of a healthy lifestyle and the desire to maintain overall well-being. Another trend in the market is the increasing popularity of ready-to-drink (RTD) beverages. RTD beverages are convenient and can be consumed on-the-go, making them a preferred choice for busy consumers. This trend is particularly prominent among urban dwellers who have hectic lifestyles and limited time for meal preparation. RTD beverages include options such as bottled iced tea, coffee-based drinks, and fruit juices. The convenience factor and the wide variety of flavors and options available have contributed to the growth of this segment in the Non-Alcoholic Drinks market.

Local special circumstances: Chile is known for its rich agricultural resources, and this has had an impact on the Non-Alcoholic Drinks market. The country produces a wide range of fruits and herbs that are used in the production of natural and flavored drinks. Chilean consumers appreciate locally sourced ingredients and are willing to pay a premium for products that are made with high-quality, natural ingredients. This has created opportunities for local beverage manufacturers to develop unique and authentic products that cater to the preferences of the local market.

Underlying macroeconomic factors: The growth of the Non-Alcoholic Drinks market in Chile can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. As people have more money to spend, they are willing to invest in premium and healthier beverage options. Additionally, the government has implemented policies to promote healthy eating and drinking habits, which has further encouraged the growth of the Non-Alcoholic Drinks market. These factors, combined with changing consumer preferences, have created a favorable environment for the development and expansion of the market in Chile.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.