Retail demand for hot drinks in Chile has faced persistent challenges since late 2022, driven by inflation and a stagnant economy. By 2024, the outlook remains difficult, with hotter weather and reduced disposable incomes continuing to shape consumer preferences.
In 2024, the hot drinks industry in Chile is navigating significant challenges shaped by rising temperatures and stagnant salaries, which are eroding consumers’ disposable incomes. The summer months continue to break high temperature records, while the autumn and winter seasons, though wetter than in recent years, have not been particularly cold.
2024 continues to be a challenging year for most hot drinks and associated brands, and the lack of resources for many players has substantially reduced innovation and delayed planned launches. Major players have made regular efforts to communicate with clients and boost sales; remaining active on television and social media platforms but refraining from investing in major activation campaigns and events.
During times of economic uncertainty, Chileans tend to look for ways to save money. As prices continue to increase and disposable incomes come under pressure, prioritising spending becomes important for consumers who are making greater efforts to search for more competitive prices.
In 2024, the split between foodservice and retail channels within hot drinks remains skewed heavily towards the latter. While hypermarkets and supermarkets dominate distribution, foodservice continues to play a significant role, particularly during the hotter months.
Over the forecast period, total volume sales of hot drinks are expected to return to growth, driven by a gradual normalisation of economic circumstances, the increasing incorporation of functional attributes that cater for wellness trends, and the further penetration of innovations better suited to current warmer temperatures.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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