After a challenging 2023, which was characterised by a tough economic environment that saw high inflation and rising prices, hot drinks companies were hoping for a better year in Spain in 2024. This was particularly needed because prior to 2023 and 2024 the influence of the pandemic had been affecting sales of hot drinks in Spain, especially in the foodservice channel.
Polarisation continues to be the key features of coffee in Spain, something which has now also started to be seen in tea. On the one hand, interest in and awareness of high quality coffee has grown, and an increasing number of consumers now seek new tasting experiences, and many are willing to pay more for better quality coffee.
The competitive landscape in hot drinks in Spain is fairly saturated, dominated by companies such as Nestlé España SA and Jacobs Douwe Egberts ES SLU. As a reflection of the polarisation of coffee, however, it is interesting to note the significant shares of private label producers such as Mercadona SA in Spain, but also that of “others”, which includes small roasters which often sell premium coffee.
The position of different sales channels for hot drinks in Spain is expected to remain broadly similar in 2024 to that seen in 2023. Supermarkets is set to remain the largest distribution channel in terms of retail volume and value sales of hot drinks during the year, with consumers often buying such items as part of their weekly shop.
In 2024, the foodservice vs retail split in hot drinks in Spain is expected to continue its gradual return towards the level seen prior to the pandemic. In coffee, more than 60% of volume sales are expected to take place in the retail channel in 2024, which is slightly above the percentage seen in 2019.
The picture for hot drinks in Spain for the next five years largely differs depending on the type of hot drink in question; however, broadly it can be said that a period of stabilisation is expected over 2024-2029, following several years of upheaval due to the COVID-19 pandemic and economic difficulties.
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Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Spain 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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