A new report by Kantar on food & beverages in Latin America highlight how food and drink consumption in the region are heading in opposite directions.
In mid-2020, social distancing drove in-home food consumption to the highest level seen this decade, but the impact on beverages was less positive. However, the slowdown in FMCG value growth seen in 2021 has mainly affected food, while beverages maintained growth at 11%.
In terms of channels, mini markets and independent stores contributed the most to the growth. This was driven by an increase in the share of occasions they captured, by successfully increasing their relevance to shoppers. E-commerce has also soared in popularity, with 17 million consumers already using this channel to access food and beverage products in Latin America.
Both food and beverage consumption grew above overall FMCG levels during the hardest months of the pandemic, but in 2021, the deceleration has mainly hit food categories. Brazil and Mexico remain below pre-pandemic consumption levels.