Average growth over the past five years has been 25% a year, said Zenith, with market value having increased by an average 22% a year to $1.25 billion in 2012. Sugar Free drinks have rocketed to over $50 million in 2012.
“Although some countries face challenging atmospheres due to restrictive regulations, energy drinks still remain the most dynamic segment in the soft drinks market in the region, with strong growth in most countries,” said Jose Saiz, a consultant with Zenith.
The top three consuming countries among the 7 covered by the Zenith report were Brazil, Argentina, and Mexico. Argentina, Brazil, and Chile had the highest consumption per person in 2012.
Brazil is still the leading region, with 56% of global volume in 2012, followed by Argentina with 17.8% and Mexico with 15%, said Zenith. Chile has made significant gains over the last few years rising to a 4% share. Colombia has also seen its volume share nearly double to 4.5%.
Unsurprisingly, Red Bull is the leading brand in the region, and it present in every market the food and drink consultancy considered. There are some key regional brands, said the consultancy, with Speed in Argentina and Volt and Vive100 in Colombia singled out for specific mention.
Latin America’s energy drinks consumption was estimated to be 249.3 million liters in 2012, an increase of over 148 million liters since 2008. By 2017, Zenith estimates that the global market will have jumped by a further 119% to 545 million liters.