In 2024, geopolitical tensions and extreme weather conditions have significantly influenced global coffee prices. Coupled with persistent inflationary pressures, these factors have led to increases in the costs of hot drinks in Mexico throughout the year.
Flavoured instant coffee has emerged as a significant trend in hot drinks in Mexico in 2024. Leading the way was Nescafé, which introduced three new flavours: chocolate, vanilla, and hazelnut.
In 2024, hot drinks has seen players adopt compelling strategies to expand their shares of sales. Instant coffee has been marked by fierce competition, particularly within the premium and mid-tier price ranges.
Discounters has gained significance in the distribution of hot drinks in Mexico, as these outlets offer promotions, smaller formats, and a broader range of private label lines. Chained discounters, such as fast-growing brands Tiendas 3B and Aurrera, have rapidly expanded their geographic reach, penetrating medium and small cities that were once dominated by wholesalers and independent grocers.
Innovation in packaged hot drinks is set to fuel retail volume and value growth in 2024, offering consumers a broader selection of flavours and convenient formats for home preparation. Manufacturers have catered to the desire to replicate foodservice experiences at home, delivering products that combine convenience with significant cost savings.
Hot drinks is set to maintain growth in both retail and foodservice volume terms in Mexico in the forecast period, with retail current value sales expected to see dynamic growth, and increases anticipated across all categories. Consumer interest in production processes is expected to grow, which will drive demand for clean label products with credible claims.
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Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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