2023 has been a year full of launches in hot drinks, driven by the changing lifestyles of Mexican consumers in the post-COVID-19 period. Amongst the brands to see the most innovation has been Nestlé’s Nescafé, with releases of products for making cold coffee beverages, new flavours in coffee capsules, and the introduction of coffee from various origins.
Mexican consumers are increasingly seeking to explore new experiences, and are willing to pay for these. According to Euromonitor International’s Voice of the Consumer: Health and Nutrition survey in 2023, 48% of consumers agree that they prefer to spend their money on experiences rather than things.
In 2023, Nestlé is set to increase its dominance of the coffee category in retail value terms, helped by significant product launches such as Nescafé ICE instant standard coffee, Nescafé Latte instant coffee mixes, and Dolce Gusto Starbucks Madagascar Vanilla fresh ground coffee pods. In the tea category, Grupo Herdez (McCormick) is expected to maintain its leading position through image changes and a clear emphasis on health and wellness claims.
Discounters and retail e-commerce have gained significance amongst consumers in the country, and are set to see rising retail volume shares in 2023. After widespread price increases in 2022, driven by the highest inflation experienced in Mexico in the last 20 years, people have remained cautious in their spending habits in 2023.
Despite the continued recovery being observed in the foodservice channel, it has been slower than expected, and the pre-pandemic level of volume sales is not expected to be fully restored in 2023. While people are gradually returning to their normal lifestyles, spending time with family and friends, returning to work, and attending school, this has not been sufficient to significantly boost out-of-home consumption.
There are several health and wellness trends that are expected to continue growing over the next few years. According to Euromonitor International’s Voice of the Industry: Food and Nutrition survey, in 2023 65% of companies believe that health trends such as the use of natural ingredients, less processed ingredients, or functional ingredients will be very or extremely influential in the coming years.
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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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