Peru: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Peru

The Peruvian sugary soft drink market fell modestly to $X in 2022, with a decrease of -1.8% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Sugary soft drink consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Sugary Soft Drink Production in Peru

In value terms, sugary soft drink production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 22%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Sugary Soft Drink Exports

Exports from Peru

After two years of decline, overseas shipments of sugary soft drinks increased by 10% to X litres in 2022. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2015 when exports increased by 475%. The exports peaked at X litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sugary soft drink exports rose rapidly to $X in 2022. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 322% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X litres) was the main destination for sugary soft drink exports from Peru, accounting for a 59% share of total exports. Moreover, sugary soft drink exports to Chile exceeded the volume sent to the second major destination, Ecuador (X litres), threefold. The United States (X litres) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to Chile stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+160.4% per year) and the United States (+25.2% per year).

In value terms, Chile ($X) remains the key foreign market for sugary soft drinks exports from Peru, comprising 49% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Ecuador, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Chile totaled +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+29.6% per year) and Ecuador (+123.5% per year).

Export Prices by Country

In 2022, the average sugary soft drink export price amounted to $X per litre, declining by -3.9% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugary soft drink export price increased by +3.4% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per litre in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per litre), while the average price for exports to Ecuador ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Peru

In 2022, the amount of sugary soft drinks imported into Peru plummeted to X litres, which is down by -29.1% against the year before. In general, imports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2021 when imports increased by 140% against the previous year. Over the period under review, imports reached the maximum at X litres in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, sugary soft drink imports reduced sharply to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 90% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X litres), Mexico (X litres) and the UK (X litres) were the main suppliers of sugary soft drink imports to Peru, together comprising 89% of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sugary soft drink suppliers to Peru were the United States ($X), Mexico ($X) and the UK ($X), with a combined 87% share of total imports.

Among the main suppliers, the UK, with a CAGR of +32.0%, recorded the highest growth rate of 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

In 2022, the average sugary soft drink import price amounted to $X per litre, rising by 7.7% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugary soft drink import price decreased by -18.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 68% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per litre), while the price for Guatemala ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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