Ecuador: Soft Drink Market 2024

Soft Drink Market Size in Ecuador

In 2021, the Ecuadorian soft drink market increased by 29% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.3% against 2017 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Soft Drink Production in Ecuador

In value terms, soft drink production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Soft Drink Exports

Exports from Ecuador

In 2021, overseas shipments of soft drinks were finally on the rise to reach X litres after two years of decline. Overall, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2015 when exports increased by 129%. Over the period under review, the exports hit record highs at X litres in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, soft drink exports skyrocketed to $X in 2021. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2015 when exports increased by 106%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia (X litres), the United States (X litres) and Peru (X litres) were the main destinations of soft drink exports from Ecuador, with a combined 85% share of total exports. Trinidad and Tobago, Panama, Chile and Honduras lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were in Honduras (with a CAGR of +93.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soft drink exported from Ecuador were the United States ($X), Colombia ($X) and Peru ($X), together comprising 86% of total exports. These countries were followed by Honduras, Panama, Trinidad and Tobago and Chile, which together accounted for a further 11%.

Among the main countries of destination, Chile, with a CAGR of +100.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soft drink export price stood at $X per litre in 2021, which is down by -6.8% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 52%. As a result, the export price reached the peak level of $X per litre. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Honduras ($X per litre), while the average price for exports to Chile ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into Ecuador

In 2021, purchases abroad of soft drinks increased by 38% to X litres, rising for the fifth consecutive year after four years of decline. Over the period under review, imports recorded a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 92% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, soft drink imports skyrocketed to $X in 2021. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 61%. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

Mexico (X litres), Colombia (X litres) and Peru (X litres) were the main suppliers of soft drink imports to Ecuador, together accounting for 75% of total imports. These countries were followed by the United States, China, Spain, the Netherlands, Trinidad and Tobago, Germany and Chile, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were in Trinidad and Tobago (with a CAGR of +165.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soft drink suppliers to Ecuador were Mexico ($X), Colombia ($X) and the Netherlands ($X), with a combined 70% share of total imports. These countries were followed by Germany, the United States, China, Spain, Trinidad and Tobago, Peru and Chile, which together accounted for a further 24%.

In terms of the main suppliers, Trinidad and Tobago, with a CAGR of +143.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soft drink import price stood at $X per litre in 2021, with an increase of 5.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 29% against the previous year. As a result, import price attained the peak level of $X per litre. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per litre), while the price for Peru ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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