Soft Drinks in Brazil

Euromonitor International
November 2023
SOFT DRINKS IN BRAZIL Passport i

LIST OF CONTENTS AND TABLES

EXECUTIVE SUMMARY .............................................................................................................. 1
Soft drinks in 2023: The big picture .......................................................................................... 1
2023 key trends ........................................................................................................................ 1
Competitive landscape ............................................................................................................. 2
Retailing developments ............................................................................................................ 2
Foodservice vs retail split ......................................................................................................... 2
What next for soft drinks? ......................................................................................................... 3
MARKET DATA ............................................................................................................................ 3
Table 1 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume
2018-2023 .................................................................................................... 3
Table 2 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: %
Volume Growth 2018-2023 .......................................................................... 3
Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2018-
2023 ............................................................................................................. 3
Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value
Growth 2018-2023 ....................................................................................... 4
Table 5 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category:
Volume 2022 ................................................................................................ 4
Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: %
Volume 2022 ................................................................................................ 4
Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2022 ........... 5
Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2022....... 5
Table 9 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2018-2023........ 5
Table 10 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth
2018-2023 .................................................................................................... 6
Table 11 Off-trade Sales of Soft Drinks by Category: Value 2018-2023 ..................... 6
Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth 2018-
2023 ............................................................................................................. 6
Table 13 Sales of Soft Drinks by Total Fountain On-trade: Volume 2018-2023 .......... 7
Table 14 Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth
2018-2023 .................................................................................................... 7
Table 15 NBO Company Shares of Total Soft Drinks (RTD): % Volume 2019-
2023 ............................................................................................................. 7
Table 16 LBN Brand Shares of Total Soft Drinks (RTD): % Volume 2020-2023 ......... 8
Table 17 NBO Company Shares of On-trade Soft Drinks (RTD): % Volume
2019-2023 .................................................................................................... 9
Table 18 LBN Brand Shares of On-trade Soft Drinks (RTD): % Volume 2020-
2023 ........................................................................................................... 10
Table 19 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume
2019-2023 .................................................................................................. 11
Table 20 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2020-
2023 ........................................................................................................... 12
Table 21 NBO Company Shares of Off-trade Soft Drinks: % Value 2019-2023 ........ 13
Table 22 LBN Brand Shares of Off-trade Soft Drinks: % Value 2020-2023 .............. 14
Table 23 Penetration of Private Label in Off-trade Soft Drinks (RTD) by
Category: % Volume 2018-2023 ................................................................ 15

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Table 24 Penetration of Private Label in Off-trade Soft Drinks by Category: %

Value 2018-2023 ........................................................................................ 15
Table 25 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume
2018-2023 .................................................................................................. 15
Table 26 Distribution of Off-trade Soft Drinks (as sold) by Format and Category:
% Volume 2023 .......................................................................................... 16
Table 27 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by
Channel: Volume 2023-2028 ..................................................................... 18
Table 28 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by
Channel: % Volume Growth 2023-2028 ..................................................... 18
Table 29 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel:
Value 2023-2028 ........................................................................................ 18
Table 30 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: %
Value Growth 2023-2028 ........................................................................... 18
Table 31 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume
2023-2028 .................................................................................................. 18
Table 32 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume
Growth 2023-2028 ..................................................................................... 19
Table 33 Forecast Off-trade Sales of Soft Drinks by Category: Value 2023-
2028 ........................................................................................................... 19
Table 34 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth
2023-2028 .................................................................................................. 19
Table 35 Forecast Sales of Soft Drinks by Total Fountain On-trade: Volume
2023-2028 .................................................................................................. 20
Table 36 Forecast Sales of Soft Drinks by Total Fountain On-trade: % Volume
Growth 2023-2028 ..................................................................................... 20
APPENDIX ................................................................................................................................. 20
Fountain sales in brazil ........................................................................................................... 20
DISCLAIMER ............................................................................................................................. 21
SOURCES.................................................................................................................................. 21
Summary 1 Research Sources ...................................................................................... 21

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SOFT DRINKS IN BRAZIL

EXECUTIVE SUMMARY

Soft drinks in 2023: The big picture

In soft drinks in Brazil, multifaceted evolution is underway. The landscape is shaped by a
drive towards sustainability and logistical efficiency, as companies seek differentiation amidst
the strong competition. Sustainability initiatives span water resource management, new
packaging, and organic ingredients, appealing to both stakeholders and shareholders. Amidst
inflationary pressures, strategies also prioritise profitability, aligning with premiumisation trends.
Innovation defines the changing face of carbonates, targeting adult consumers with
unconventional offerings. For instance, Heineken’s Clash'd, a 100% natural, brewed carbonate
with no alcohol, symbolises this shift, attracting health-conscious adults seeking novel beverage
experiences. Simultaneously, consumer preferences display a complex tapestry. While sales of
reduced sugar carbonates are growing, sugary drinks also remain popular, revealing Brazilians’
penchant for both health-focused and indulgent options.
Meanwhile, sports drinks has been witnessing a revival, buoyed by renewed interest in fitness
activities, notably high-intensity workouts. Beyond the sports arena, these find relevance in
hydration solutions for various needs, from digestive issues to hangover remedies. Ingredient-
led innovations, diverse distribution channels beyond traditional retail, and the emergence of
regional players further characterise this vibrant category, illustrating the diverse strategies that
are fuelling ongoing growth.

2023 key trends

As differentiation becomes more challenging amidst price sensitivity, companies are focusing
on gaining a competitive advantage. This entails exploring new claims, optimising logistics, and
improving cost efficiencies. Sustainability takes centre stage, reflecting the desire for a
sustainable future. Brands are embracing water resource management, innovative packaging
formats, and organic ingredients to boost awareness and appeal, while grappling with inflation-
induced margin pressures.
Soft drinks are also evolving to cater more to adult consumers, with the introduction of new
flavours, positionings, and claims. Many appeal to the adult palate with low calorie content and a
slightly bitter taste. Innovation marks a leap into the “grey zone” of adult soft drinks, targeting an
older audience seeking health, wellness, and flavour-aligned options beyond conventional
carbonates or beer.
A new mix of distribution channels is redefining the reach of soft drinks. Pharmacies, such as
Droga Raia, which is expanding rapidly, is emerging as a key distribution channel for health and
wellness beverages, offering sports drinks a fresh avenue with less competition. Gyms, a hub
for sports activities, have also emerged as prime venues for the placement of sports drinks.
Meanwhile, soft drinks is witnessing the emergence of regional players such as Baly
Energéticos, which is challenging energy drinks giants such as Red Bull and Monster with its
diverse flavours and competitive pricing. In addition, the dynamic evolution of energy drinks
finds resonance in diverse occasions – from gaming and sports to adult alternatives for
carbonates, catering to varied consumer preferences.
This robust industry is set to continue its growth trajectory in 2023, fuelled by innovative
consumption occasions, strategic positioning, and competitive pricing strategies. Brands are

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witnessing substantial growth, signifying continued expansion potential for soft drinks in Brazil,
which is still poised for further evolution and innovation.

Competitive landscape
Soft drinks is expected to continue to be led by Coca-Cola Indústrias Ltda in off-trade volume
and value terms in 2023, which is not only the biggest player with continental distribution, but
one of the most innovative, consistently bringing new SKUs to the market in most, if not all, the
categories covered by its portfolio.
At the opposite end of the spectrum, soft drinks focused on health and wellness properties are
dominated by start-ups and drinks techs such as Better Drinks, Super Coffee, and others.
Although in the long term, drinks techs may face problems related to management and the
organisational aspects of logistics and availability, in the short term they are disruptive, and
have intense innovation pipelines that are able to cater to the demand for experimentation
amongst Brazilian consumers.

Retailing developments
In soft drinks in Brazil, retail distribution channels are undergoing a significant transformation.
Pharmacies such as Droga Raia are not just traditional drugstores, but are also becoming
essential distribution avenues for health and wellness beverages. This evolution offers sports
drinks a unique opportunity to tap into this channel, leveraging the growing consumer inclination
towards healthier options. Simultaneously, gyms, which serve as hubs for sports activities, are
emerging as potential retail outlets for beverages. With some gym franchises introducing private
label sports drinks and installing refrigerators for these products, this trend highlights an
unconventional yet promising avenue for diversifying revenue streams in the fitness industry.
Modern retail formats, once dominant, are now experiencing a decline in favour of traditional
outlets and convenience stores. Traditional retail channels, which are known for their
accessibility and familiarity, are gaining traction due to their convenience, proximity, and often
personalised service. Consumers increasingly favour these outlets, appreciating a more familiar
and localised shopping experience, especially for daily essentials such as beverages.
In addition, the concept of atacarejo, a hybrid model combining elements of wholesale
(atacado) and retail (varejo), has gained significant ground amongst Brazilian consumers.
Atacarejo stores offer bulk purchase options at competitive prices, attracting consumers seeking
cost-effective shopping experiences without compromising on quality. These establishments
present a middle-ground between traditional retail and wholesale, appealing to budget-
conscious shoppers looking for value while fulfilling their beverage needs in larger quantities.
The growing popularity of atacarejo signifies a shifting consumer preference towards a more
economical and efficient shopping approach, impacting the distribution and sales strategies of
beverage brands aiming to tap into these evolving retail dynamics.

Foodservice vs retail split

In 2023 the foodservice/retail volume split is set to remain fairly stable, with just a small
increase in the share of foodservice expected, as consumers have continued to return to social
occasions post-COVID-19. Foodservice players have been eager to explore new strategies
focused on experiences and experimentation. Premiumisation has been a driving force,
especially as margins and financial stability have been more important for outlet owners. The
second driving force has been associations with new consumption occasions. This includes
consumption with alcoholic drinks, as is the case of tonic water and energy drinks, which are
both products that in foodservice have a direct relationship with alcoholic drinks consumption
occasions. The search for experiences has also gained attention, with foodservice outlets

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bringing more innovative approaches, such as the case of Burger King, which formed
partnerships with SpongeBob, Barbie, and even Jurassic Park.

What next for soft drinks?

The soft drinks landscape in Brazil is poised for several key trends and developments. First,
the continued growth of reduced sugar carbonates signals a significant shift, with consumers
increasingly leaning towards zero sugar or low sugar options. Major players such as Coca-Cola
and PepsiCo (Cia Brasileira de Bebidas) have capitalised on reformulation, employing different
sweeteners and intense natural flavours; seen notably in products such as Coca-Cola Zero
Sugar and Pepsi Black.
Moreover, the emergence of the adult soft drinks segment presents a new frontier for
beverage companies. This space, marked by competition within soft drinks and alcoholic
beverages, introduces challenges in terms of product development, relying heavily on occasion
strategies and distinct health and wellness claims. The adult soft drinks segment is anticipated
to pivot towards higher price points and cater to health-conscious consumers.
Ingredient-led beverages are gaining momentum, with consumers scrutinising and valuing
products based on their ingredient lists. This trend is driving innovation across soft drinks,
leading to front-of-pack ingredient highlights and formulations. Blended 100% juices are also on
the rise, compensating for quality issues and exploring new flavours, while also leveraging the
halo effect to create healthier associations.

MARKET DATA
Table 1 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2018-
2023

million litres
2018 2019 2020 2021 2022 2023

Off-trade 25,696.9 26,411.9 26,106.6 26,908.7 27,856.2 28,723.3

On-trade 3,687.2 3,785.0 2,998.5 3,407.2 3,851.4 4,162.6
Total 29,384.1 30,196.8 29,105.1 30,315.9 31,707.6 32,885.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 2 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth
2018-2023

% volume growth
2022/23 2018-23 CAGR 2018/23 Total

Off-trade 3.1 2.3 11.8

On-trade 8.1 2.5 12.9
Total 3.7 2.3 11.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2018-2023

BRL million

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2018 2019 2020 2021 2022 2023

Off-trade 70,904.7 77,243.7 80,921.6 94,758.0 113,549.1 127,819.9

On-trade 38,714.4 42,620.4 34,344.7 39,142.0 47,211.9 55,088.2
Total 109,619.1 119,864.1 115,266.3 133,900.0 160,760.9 182,908.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2018-
2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

Off-trade 12.6 12.5 80.3

On-trade 16.7 7.3 42.3
Total 13.8 10.8 66.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2022

million litres
Off-trade On-trade Total

Bottled Water 7,102.4 1,293.4 8,395.8

Carbonates 12,324.9 1,809.3 14,134.2
Concentrates 224.4 - 224.4
Juice 1,721.0 678.2 2,399.1
RTD Coffee 1.1 - 1.1
RTD Tea 177.5 15.4 192.9
Energy Drinks 678.0 47.5 725.5
Sports Drinks 125.1 7.6 132.8
Asian Speciality Drinks - - -
Soft Drinks 22,354.4 3,851.4 26,205.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: Excludes powder concentrates

Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume
2022

% volume analysis
Off-trade On-trade Total

Bottled Water 84.6 15.4 100.0

Carbonates 87.2 12.8 100.0
Concentrates 100.0 - 100.0
Juice 71.7 28.3 100.0
RTD Coffee 100.0 - 100.0
RTD Tea 92.0 8.0 100.0
Energy Drinks 93.5 6.5 100.0
Sports Drinks 94.3 5.7 100.0
Asian Speciality Drinks - - -
Soft Drinks 85.3 14.7 100.0

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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note: Excludes powder concentrates

Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2022

BRL million
Off-trade On-trade Total

Bottled Water 19,398.3 14,404.6 33,802.9

Carbonates 48,699.7 23,448.2 72,148.0
Concentrates 11,104.8 - 11,104.8
Juice 21,066.9 6,134.9 27,201.8
RTD Coffee 19.6 - 19.6
RTD Tea 3,149.0 393.9 3,542.9
Energy Drinks 8,640.0 2,633.6 11,273.5
Sports Drinks 1,470.9 196.6 1,667.5
Asian Speciality Drinks - - -
Soft Drinks 113,549.1 47,211.9 160,760.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2022

% value analysis
Off-trade On-trade Total

Bottled Water 57.4 42.6 100.0

Carbonates 67.5 32.5 100.0
Concentrates 100.0 - 100.0
Juice 77.4 22.6 100.0
RTD Coffee 100.0 - 100.0
RTD Tea 88.9 11.1 100.0
Energy Drinks 76.6 23.4 100.0
Sports Drinks 88.2 11.8 100.0
Asian Speciality Drinks - - -
Soft Drinks 70.6 29.4 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 9 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2018-2023

million litres
2018 2019 2020 2021 2022 2023

Bottled Water 7,369.1 7,657.1 6,757.5 6,969.9 7,102.4 7,173.6

Carbonates 10,796.3 11,186.4 11,604.4 11,785.3 12,324.9 12,875.2
Concentrates 5,743.0 5,714.0 5,808.2 5,824.1 5,726.2 5,610.5
Juice 1,487.7 1,507.7 1,481.8 1,598.7 1,721.0 1,862.3
RTD Coffee 1.4 1.3 1.1 1.1 1.1 1.1
RTD Tea 143.0 159.1 152.5 162.0 177.5 191.4
Energy Drinks 74.5 107.2 233.9 473.4 678.0 841.2
Sports Drinks 81.9 79.0 67.3 94.2 125.1 168.0
Asian Speciality Drinks - - - - - -
Soft Drinks 25,696.9 26,411.9 26,106.6 26,908.7 27,856.2 28,723.3

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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 10 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2018-2023

% volume growth
2022/23 2018-23 CAGR 2018/23 Total

Bottled Water 1.0 -0.5 -2.7

Carbonates 4.5 3.6 19.3
Concentrates -2.0 -0.5 -2.3
Juice 8.2 4.6 25.2
RTD Coffee 5.2 -4.2 -19.4
RTD Tea 7.8 6.0 33.9
Energy Drinks 24.1 62.4 1,028.8
Sports Drinks 34.3 15.5 105.2
Asian Speciality Drinks - - -
Soft Drinks 3.1 2.3 11.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 11 Off-trade Sales of Soft Drinks by Category: Value 2018-2023

BRL million
2018 2019 2020 2021 2022 2023

Bottled Water 13,307.9 14,813.9 14,685.0 16,884.6 19,398.3 21,658.5

Carbonates 31,433.4 33,469.6 34,366.1 39,005.5 48,699.7 54,817.1
Concentrates 8,639.0 8,950.2 9,516.4 10,313.1 11,104.8 11,691.4
Juice 13,263.6 14,545.5 15,209.6 17,709.4 21,066.9 23,967.7
RTD Coffee 20.9 20.8 17.8 17.4 19.6 21.4
RTD Tea 1,393.3 2,152.5 2,277.4 2,558.6 3,149.0 3,718.2
Energy Drinks 2,093.7 2,516.6 4,134.6 7,209.9 8,640.0 9,862.6
Sports Drinks 753.0 774.6 714.7 1,059.4 1,470.9 2,083.2
Asian Speciality Drinks - - - - - -
Soft Drinks 70,904.7 77,243.7 80,921.6 94,758.0 113,549.1 127,819.9
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth 2018-2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

Bottled Water 11.7 10.2 62.7

Carbonates 12.6 11.8 74.4
Concentrates 5.3 6.2 35.3
Juice 13.8 12.6 80.7
RTD Coffee 9.2 0.5 2.3
RTD Tea 18.1 21.7 166.9
Energy Drinks 14.2 36.3 371.1
Sports Drinks 41.6 22.6 176.7
Asian Speciality Drinks - - -
Soft Drinks 12.6 12.5 80.3

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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 13 Sales of Soft Drinks by Total Fountain On-trade: Volume 2018-2023

million litres
2018 2019 2020 2021 2022 2023

Total Fountain On-trade 254.6 251.6 187.2 221.7 239.6 254.9

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 14 Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2018-2023

% fountain volume growth

2022/23 2018-23 CAGR 2018/23 Total

Total Fountain On-trade 6.4 0.0 0.1

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 15 NBO Company Shares of Total Soft Drinks (RTD): % Volume 2019-2023

% total rtd volume

Company 2019 2020 2021 2022 2023

Coca-Cola Indústrias Ltda 23.4 22.8 27.8 28.7 29.6

Cia Brasileira de Bebidas 7.5 7.1 7.2 7.4 7.6
Mondelez Brasil Ltda 7.2 7.6 7.5 7.2 6.9
Heineken do Brasil 2.6 2.5 2.5 2.4 2.4
Comercial Ltda
Indaiá Brasil Águas 2.1 1.9 1.8 1.9 1.9
Minerais Ltda
Ajinomoto Interamericana 1.8 1.9 1.4 1.7 1.7
Indústria e Comércio Ltda
Empresa Brasileira de 2.0 2.0 2.0 1.6 1.6
Bebidas e Alimentos SA
Sucos Del Valle do Brasil 1.1 1.3 1.5 1.5 1.5
Ltda
General Brands do Brasil 1.4 1.4 1.4 1.4 1.2
Indústria e Comércio Ltda
Minalba Alimentos e 0.9 0.8 0.8 0.8 0.9
Bebidas Ltda
3 Corações SA 0.7 0.7 0.7 0.7 0.7
Global Bebidas e 0.2 0.2 0.2 0.6 0.6
Alimentos Ltda
Minalba Brasil 0.7 0.5 0.5 0.6 0.6
Red Bull do Brasil Ltda 0.2 0.3 0.3 0.5 0.6
Tampico Beverages Inc 0.5 0.5 0.5 0.5 0.6
Danone Ltda 0.6 0.5 0.5 0.5 0.5
Natural One SA 0.3 0.3 0.4 0.4 0.4
Alimentos Serigy 0.4 0.4 0.4 0.4 0.4
Leão Júnior SA 0.3 0.3 0.3 0.3 0.3
Wow Indústria e Comércio 0.3 0.3 0.3 0.3 0.3
Ltda
Sucos do Brasil SA 0.3 0.3 0.3 0.3 0.3

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Bebidas Grassi Do Brasil - - - 0.2 0.3

Ltda
Empresa de Águas Ouro 0.3 0.2 0.2 0.2 0.2
Fino Ltda
Viton 44 Indústria, 0.2 0.2 0.2 0.2 0.2
Comércio e Exportação de
Alimentos Ltda
C L Pratinha-Eireli-ME 0.1 0.2 0.2 0.2 0.2
Amacoco Água de Côco da 0.1 0.1 0.1 0.2 0.1
Amazônia Ltda
Ducoco Alimentos SA 0.1 0.1 0.1 0.1 0.1
Sococo SA Indústrias 0.1 0.1 0.1 0.1 0.1
Alimentícias
Incrível Comércio de 0.1 0.1 0.1 0.1 0.1
Bebidas e Alimentos Ltda
Tropical Indústria de 0.1 0.1 0.1 0.1 0.1
Alimentos Ltda
Private Label 0.3 0.3 0.3 0.4 0.3
Others 44.1 44.7 40.1 38.4 37.6
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 16 LBN Brand Shares of Total Soft Drinks (RTD): % Volume 2020-2023

% total rtd volume

Brand (GBO) Company (NBO) 2020 2021 2022 2023

Coca-Cola (Coca-Cola Coca-Cola Indústrias Ltda 15.2 19.3 19.9 20.3

Co, The)
Tang (Mondelez Mondelez Brasil Ltda 4.1 4.0 3.8 3.7
International Inc)
Antarctica (Anheuser- Cia Brasileira de Bebidas 2.9 2.9 3.1 3.1
Busch InBev NV)
Fanta (Coca-Cola Co, Coca-Cola Indústrias Ltda 2.7 2.8 2.6 2.6
The)
Schin (Heineken NV) Heineken do Brasil 2.3 2.3 2.2 2.2
Comercial Ltda
Fresh (Mondelez Mondelez Brasil Ltda 2.3 2.2 2.2 2.1
International Inc)
Indaiá (Minalba Brasil) Indaiá Brasil Águas 1.9 1.8 1.9 1.9
Minerais Ltda
MID (Ajinomoto Co Inc) Ajinomoto Interamericana 1.3 1.3 1.6 1.6
Indústria e Comércio Ltda
Coca-Cola Zero Sugar Coca-Cola Indústrias Ltda 1.0 1.0 1.3 1.5
(Coca-Cola Co, The)
Del Valle (Coca-Cola Sucos Del Valle do Brasil 1.3 1.5 1.5 1.5
Co, The) Ltda
Kuat (Coca-Cola Co, Coca-Cola Indústrias Ltda 1.4 1.2 1.1 1.2
The)
Crystal (Coca-Cola Coca-Cola Indústrias Ltda 1.1 1.0 1.1 1.1
Co, The)
Camp General Brands do Brasil 1.3 1.3 1.3 1.1
Indústria e Comércio Ltda
Pepsi (PepsiCo Inc) Cia Brasileira de Bebidas 1.1 1.1 1.1 1.1
Clight (Mondelez Mondelez Brasil Ltda 1.3 1.3 1.3 1.1
International Inc)
H2OH! (PepsiCo Inc) Cia Brasileira de Bebidas 0.9 0.9 0.9 1.0
Minalba (Minalba Minalba Alimentos e 0.8 0.8 0.8 0.9

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Brasil) Bebidas Ltda

Maguary (Britvic Plc) Empresa Brasileira de 1.3 1.3 0.9 0.9
Bebidas e Alimentos SA
Monster Energy Coca-Cola Indústrias Ltda 0.2 0.4 0.6 0.8
(Monster Beverage Corp)
Dafruta (Britvic Plc) Empresa Brasileira de 0.7 0.7 0.8 0.7
Bebidas e Alimentos SA
Sukita (Anheuser- Cia Brasileira de Bebidas 0.7 0.7 0.7 0.7
Busch InBev NV)
Sprite (Coca-Cola Co, Coca-Cola Indústrias Ltda 0.6 0.6 0.6 0.7
The)
Pepsi Twist (PepsiCo Cia Brasileira de Bebidas 0.6 0.6 0.6 0.6
Inc)
Frisco (Strauss Group 3 Corações SA 0.7 0.7 0.6 0.6
Ltd)
Red Bull (Red Bull Red Bull do Brasil Ltda 0.3 0.3 0.5 0.6
GmbH)
Lanjal Global Bebidas e 0.1 0.1 0.6 0.6
Alimentos Ltda
Tampico (Houchens Tampico Beverages Inc 0.5 0.5 0.5 0.6
Industries Inc)
Bonafont (Danone, Danone Ltda 0.4 0.4 0.4 0.4
Groupe)
Natural One Natural One SA 0.3 0.4 0.4 0.4
Serigy Alimentos Serigy 0.4 0.4 0.4 0.4
Private label Private Label 0.3 0.3 0.4 0.3
Others Others 49.9 45.7 44.4 43.8
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 17 NBO Company Shares of On-trade Soft Drinks (RTD): % Volume 2019-2023

% on-trade rtd volume

Company 2019 2020 2021 2022 2023

Coca-Cola Indústrias Ltda 39.5 42.4 41.2 40.6 39.4

Cia Brasileira de Bebidas 16.2 16.7 14.6 14.8 14.7
Minalba Brasil 2.8 2.6 2.3 2.4 2.6
Empresa Brasileira de 2.5 2.4 2.4 2.3 2.3
Bebidas e Alimentos SA
Indaiá Brasil Águas 2.6 2.4 2.1 2.2 2.3
Minerais Ltda
Minalba Alimentos e 2.4 2.2 2.0 2.0 2.1
Bebidas Ltda
Tampico Beverages Inc 1.5 1.4 1.3 1.2 1.2
Heineken do Brasil 1.2 1.1 1.0 1.0 1.1
Comercial Ltda
Red Bull do Brasil Ltda 0.6 0.5 0.6 0.7 0.7
Danone Ltda 0.9 0.8 0.7 0.7 0.7
Sucos do Brasil SA 0.5 0.5 0.4 0.4 0.4
Empresa de Águas Ouro 0.4 0.4 0.3 0.3 0.3
Fino Ltda
Leão Júnior SA 0.2 0.2 0.3 0.2 0.2
Natural One SA 0.2 0.2 0.2 0.2 0.2
Cervejaria Petrópolis SA 0.1 0.1 0.1 0.1 0.1
Edson de Queiróz, Grupo - - - - -
Nestlé Waters Brasil - - - - -
Bebidas e Alimentos Ltda

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SOFT DRINKS IN BRAZIL Passport 10

Brasil Kirin Indústria de - - - - -

Bebidas SA
Others 28.4 26.2 30.5 30.7 31.6
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 18 LBN Brand Shares of On-trade Soft Drinks (RTD): % Volume 2020-2023

% on-trade rtd volume

Brand (GBO) Company (NBO) 2020 2021 2022 2023

Coca-Cola (Coca-Cola Coca-Cola Indústrias Ltda 30.4 30.6 29.9 28.5

Co, The)
Antarctica (Anheuser- Cia Brasileira de Bebidas 6.2 5.4 5.6 5.5
Busch InBev NV)
H2OH! (PepsiCo Inc) Cia Brasileira de Bebidas 5.1 4.6 4.7 5.0
Crystal (Coca-Cola Coca-Cola Indústrias Ltda 3.7 3.3 3.4 3.6
Co, The)
Fanta (Coca-Cola Co, Coca-Cola Indústrias Ltda 4.4 3.8 3.6 3.4
The)
Pepsi (PepsiCo Inc) Cia Brasileira de Bebidas 3.4 3.0 2.9 2.7
Indaiá (Minalba Brasil) Indaiá Brasil Águas 2.4 2.1 2.2 2.3
Minerais Ltda
Minalba (Minalba Minalba Alimentos e 2.2 2.0 2.0 2.1
Brasil) Bebidas Ltda
Maguary (Britvic Plc) Empresa Brasileira de 1.6 1.7 1.6 1.6
Bebidas e Alimentos SA
Coca-Cola Zero Sugar Coca-Cola Indústrias Ltda 1.6 1.4 1.5 1.5
(Coca-Cola Co, The)
Kuat (Coca-Cola Co, Coca-Cola Indústrias Ltda 1.7 1.5 1.5 1.5
The)
São Lourenço Minalba Brasil 1.3 1.1 1.2 1.3
Tampico (Houchens Tampico Beverages Inc 1.4 1.3 1.2 1.2
Industries Inc)
Schin (Heineken NV) Heineken do Brasil 1.1 1.0 1.0 1.1
Comercial Ltda
Red Bull (Red Bull Red Bull do Brasil Ltda 0.5 0.6 0.7 0.7
GmbH)
Bonafont (Danone, Danone Ltda 0.8 0.7 0.7 0.7
Groupe)
Dafruta (Britvic Plc) Empresa Brasileira de 0.8 0.7 0.7 0.7
Bebidas e Alimentos SA
Monster Energy Coca-Cola Indústrias Ltda 0.1 0.2 0.3 0.6
(Monster Beverage Corp)
Jandaia Sucos do Brasil SA 0.5 0.4 0.4 0.4
Sukita (Anheuser- Cia Brasileira de Bebidas 0.5 0.4 0.4 0.4
Busch InBev NV)
Ouro Fino Empresa de Águas Ouro 0.4 0.3 0.3 0.3
Fino Ltda
Leão (Coca-Cola Co, Leão Júnior SA 0.2 0.3 0.2 0.2
The)
Natural One Natural One SA 0.2 0.2 0.2 0.2
Gatorade (PepsiCo Inc) Cia Brasileira de Bebidas 0.2 0.2 0.1 0.1
TNT Cervejaria Petrópolis SA 0.1 0.1 0.1 0.1
Burn (Monster Coca-Cola Indústrias Ltda 0.1 0.1 0.1 0.1
Beverage Corp)
Burn (Coca-Cola Co, Coca-Cola Indústrias Ltda - - - -
The)

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SOFT DRINKS IN BRAZIL Passport 11

Dafruta Empresa Brasileira de - - - -

Bebidas e Alimentos SA
Maguary Empresa Brasileira de - - - -
Bebidas e Alimentos SA
Indaiá (Edson de Indaiá Brasil Águas - - - -
Queiróz, Grupo) Minerais Ltda
Others Others 29.2 33.1 33.3 34.2
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 19 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2019-2023

% off-trade volume
Company 2019 2020 2021 2022 2023

Coca-Cola Indústrias Ltda 21.1 20.6 26.1 27.0 28.2

Mondelez Brasil Ltda 8.2 8.5 8.5 8.2 7.9
Cia Brasileira de Bebidas 6.2 6.1 6.2 6.4 6.6
Heineken do Brasil 2.8 2.7 2.7 2.6 2.6
Comercial Ltda
Ajinomoto Interamericana 2.1 2.1 1.5 2.0 1.9
Indústria e Comércio Ltda
Indaiá Brasil Águas 2.0 1.8 1.8 1.8 1.8
Minerais Ltda
Sucos Del Valle do Brasil 1.3 1.4 1.7 1.7 1.7
Ltda
Empresa Brasileira de 1.9 2.0 1.9 1.5 1.5
Bebidas e Alimentos SA
General Brands do Brasil 1.6 1.6 1.6 1.6 1.4
Indústria e Comércio Ltda
3 Corações SA 0.8 0.8 0.8 0.8 0.8
Minalba Alimentos e 0.7 0.6 0.6 0.7 0.7
Bebidas Ltda
Global Bebidas e 0.2 0.2 0.2 0.7 0.7
Alimentos Ltda
Red Bull do Brasil Ltda 0.2 0.2 0.3 0.4 0.6
Tampico Beverages Inc 0.4 0.4 0.4 0.4 0.5
Alimentos Serigy 0.5 0.5 0.5 0.5 0.5
Danone Ltda 0.5 0.5 0.5 0.5 0.5
Natural One SA 0.3 0.3 0.4 0.4 0.4
Wow Indústria e Comércio 0.4 0.3 0.4 0.4 0.4
Ltda
Leão Júnior SA 0.3 0.3 0.3 0.3 0.3
Minalba Brasil 0.3 0.3 0.3 0.3 0.3
Bebidas Grassi Do Brasil - - - 0.2 0.3
Ltda
Sucos do Brasil SA 0.3 0.3 0.3 0.3 0.3
Viton 44 Indústria, 0.3 0.2 0.3 0.2 0.2
Comércio e Exportação de
Alimentos Ltda
Empresa de Águas Ouro 0.3 0.2 0.2 0.2 0.2
Fino Ltda
C L Pratinha-Eireli-ME 0.2 0.2 0.2 0.2 0.2
Amacoco Água de Côco da 0.2 0.2 0.2 0.2 0.2
Amazônia Ltda
Ducoco Alimentos SA 0.1 0.1 0.2 0.2 0.2
Sococo SA Indústrias 0.1 0.1 0.2 0.2 0.2
Alimentícias

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SOFT DRINKS IN BRAZIL Passport 12

Incrível Comércio de 0.1 0.1 0.1 0.1 0.1

Bebidas e Alimentos Ltda
Tropical Indústria de 0.1 0.1 0.1 0.1 0.1
Alimentos Ltda
Private Label 0.4 0.4 0.4 0.4 0.4
Others 46.3 46.8 41.3 39.5 38.5
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 20 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2020-2023

% off-trade volume
Brand (GBO) Company (NBO) 2020 2021 2022 2023

Coca-Cola (Coca-Cola Coca-Cola Indústrias Ltda 13.5 17.8 18.5 19.1

Co, The)
Tang (Mondelez Mondelez Brasil Ltda 4.6 4.5 4.3 4.2
International Inc)
Antarctica (Anheuser- Cia Brasileira de Bebidas 2.5 2.6 2.8 2.8
Busch InBev NV)
Fanta (Coca-Cola Co, Coca-Cola Indústrias Ltda 2.5 2.6 2.4 2.5
The)
Fresh (Mondelez Mondelez Brasil Ltda 2.5 2.5 2.5 2.4
International Inc)
Schin (Heineken NV) Heineken do Brasil 2.5 2.5 2.4 2.3
Comercial Ltda
MID (Ajinomoto Co Inc) Ajinomoto Interamericana 1.5 1.5 1.8 1.8
Indústria e Comércio Ltda
Indaiá (Minalba Brasil) Indaiá Brasil Águas 1.8 1.8 1.8 1.8
Minerais Ltda
Del Valle (Coca-Cola Sucos Del Valle do Brasil 1.4 1.7 1.7 1.7
Co, The) Ltda
Coca-Cola Zero Sugar Coca-Cola Indústrias Ltda 0.9 1.0 1.3 1.5
(Coca-Cola Co, The)
Camp General Brands do Brasil 1.5 1.5 1.5 1.3
Indústria e Comércio Ltda
Clight (Mondelez Mondelez Brasil Ltda 1.4 1.4 1.4 1.3
International Inc)
Kuat (Coca-Cola Co, Coca-Cola Indústrias Ltda 1.4 1.2 1.1 1.1
The)
Pepsi (PepsiCo Inc) Cia Brasileira de Bebidas 0.9 0.9 0.9 0.9
Monster Energy Coca-Cola Indústrias Ltda 0.2 0.4 0.6 0.8
(Monster Beverage Corp)
Crystal (Coca-Cola Coca-Cola Indústrias Ltda 0.8 0.8 0.8 0.8
Co, The)
Maguary (Britvic Plc) Empresa Brasileira de 1.3 1.3 0.8 0.8
Bebidas e Alimentos SA
Sprite (Coca-Cola Co, Coca-Cola Indústrias Ltda 0.6 0.7 0.7 0.8
The)
Sukita (Anheuser- Cia Brasileira de Bebidas 0.7 0.8 0.7 0.8
Busch InBev NV)
Dafruta (Britvic Plc) Empresa Brasileira de 0.7 0.7 0.8 0.7
Bebidas e Alimentos SA
Minalba (Minalba Minalba Alimentos e 0.6 0.6 0.7 0.7
Brasil) Bebidas Ltda
Pepsi Twist (PepsiCo Cia Brasileira de Bebidas 0.7 0.7 0.7 0.7
Inc)
Frisco (Strauss Group 3 Corações SA 0.7 0.7 0.7 0.7

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SOFT DRINKS IN BRAZIL Passport 13

Ltd)
Lanjal Global Bebidas e 0.1 0.1 0.6 0.6
Alimentos Ltda
Red Bull (Red Bull Red Bull do Brasil Ltda 0.2 0.3 0.4 0.6
GmbH)
Tampico (Houchens Tampico Beverages Inc 0.4 0.4 0.4 0.5
Industries Inc)
Serigy Alimentos Serigy 0.5 0.5 0.5 0.5
Gatorade (PepsiCo Inc) Cia Brasileira de Bebidas 0.2 0.3 0.3 0.4
Natural One Natural One SA 0.3 0.4 0.4 0.4
Bonafont (Danone, Danone Ltda 0.4 0.4 0.4 0.4
Groupe)
Private label Private Label 0.4 0.4 0.4 0.4
Others Others 52.3 47.1 45.6 44.8
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 21 NBO Company Shares of Off-trade Soft Drinks: % Value 2019-2023

% off-trade value rsp

Company 2019 2020 2021 2022 2023

Coca-Cola Indústrias Ltda 30.5 30.7 30.3 31.5 31.6

Cia Brasileira de Bebidas 8.0 7.8 7.4 7.5 7.5
Sucos Del Valle do Brasil 3.9 3.7 3.5 3.7 3.6
Ltda
Red Bull do Brasil Ltda 1.9 1.8 2.9 3.1 3.3
Mondelez Brasil Ltda 3.0 3.1 2.9 2.7 2.7
Heineken do Brasil 2.3 2.2 2.0 2.0 2.0
Comercial Ltda
Natural One SA 1.6 1.7 1.7 1.8 1.9
Indaiá Brasil Águas 1.2 1.3 1.2 1.5 1.5
Minerais Ltda
Empresa Brasileira de 1.7 1.6 1.4 1.4 1.3
Bebidas e Alimentos SA
Tampico Beverages Inc 1.0 1.0 1.0 0.9 1.0
Ajinomoto Interamericana 0.9 0.9 0.9 0.9 0.8
Indústria e Comércio Ltda
Leão Júnior SA 0.6 0.6 0.6 0.7 0.7
Amacoco Água de Côco da 0.7 0.8 0.7 0.7 0.7
Amazônia Ltda
Ducoco Alimentos SA 0.7 0.8 0.7 0.7 0.7
Minalba Alimentos e 0.6 0.6 0.6 0.7 0.7
Bebidas Ltda
C L Pratinha-Eireli-ME 0.6 0.6 0.6 0.6 0.6
Danone Ltda 0.5 0.5 0.5 0.7 0.6
Wow Indústria e Comércio 0.7 0.7 0.6 0.6 0.5
Ltda
Bebidas Grassi Do Brasil - - - 0.4 0.5
Ltda
Sococo SA Indústrias 0.6 0.6 0.5 0.5 0.5
Alimentícias
Minalba Brasil 0.3 0.4 0.4 0.4 0.4
Viton 44 Indústria, 0.5 0.4 0.4 0.4 0.3
Comércio e Exportação de
Alimentos Ltda
General Brands do Brasil 0.4 0.4 0.4 0.4 0.3
Indústria e Comércio Ltda

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SOFT DRINKS IN BRAZIL Passport 14

3 Corações SA 0.3 0.3 0.3 0.4 0.3

Incrível Comércio de 0.3 0.3 0.3 0.3 0.3
Bebidas e Alimentos Ltda
Indústria Alimentícia do 0.3 0.3 0.3 0.3 0.3
Vale Ltda
Alimentos Serigy 0.3 0.3 0.3 0.3 0.2
Frysk Industrial Ltda 0.2 0.2 0.2 0.2 0.2
Sucos do Brasil SA 0.3 0.2 0.2 0.2 0.2
Juxx Comercial de Bebidas 0.1 0.1 0.1 0.2 0.2
Importadora e Exportadora
Ltda
Private Label 0.1 0.1 0.1 0.1 0.1
Others 35.7 35.7 36.9 34.4 34.1
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 22 LBN Brand Shares of Off-trade Soft Drinks: % Value 2020-2023

% off-trade value rsp

Brand (GBO) Company (NBO) 2020 2021 2022 2023

Coca-Cola (Coca-Cola Coca-Cola Indústrias Ltda 21.2 20.3 21.1 21.0

Co, The)
Del Valle (Coca-Cola Sucos Del Valle do Brasil 3.7 3.5 3.7 3.6
Co, The) Ltda
Red Bull (Red Bull Red Bull do Brasil Ltda 1.8 2.9 3.1 3.3
GmbH)
Antarctica (Anheuser- Cia Brasileira de Bebidas 3.0 3.0 3.0 3.0
Busch InBev NV)
Monster Energy Coca-Cola Indústrias Ltda 1.5 2.4 2.6 2.8
(Monster Beverage Corp)
Coca-Cola Zero Sugar Coca-Cola Indústrias Ltda 1.8 1.7 2.0 2.1
(Coca-Cola Co, The)
Fanta (Coca-Cola Co, Coca-Cola Indústrias Ltda 2.1 2.1 2.1 2.0
The)
Tang (Mondelez Mondelez Brasil Ltda 2.2 2.0 1.9 1.9
International Inc)
Natural One Natural One SA 1.7 1.7 1.8 1.9
Schin (Heineken NV) Heineken do Brasil 1.9 1.7 1.7 1.6
Comercial Ltda
Indaiá (Minalba Brasil) Indaiá Brasil Águas 1.3 1.2 1.5 1.5
Minerais Ltda
Kuat (Coca-Cola Co, Coca-Cola Indústrias Ltda 1.2 1.1 1.1 1.1
The)
Pepsi (PepsiCo Inc) Cia Brasileira de Bebidas 1.1 1.0 1.0 1.0
Tampico (Houchens Tampico Beverages Inc 1.0 1.0 0.9 1.0
Industries Inc)
Gatorade (PepsiCo Inc) Cia Brasileira de Bebidas 0.7 0.6 0.8 0.9
Sprite (Coca-Cola Co, Coca-Cola Indústrias Ltda 1.3 1.1 1.0 0.9
The)
Pepsi Twist (PepsiCo Cia Brasileira de Bebidas 1.0 0.9 0.9 0.9
Inc)
Maguary (Britvic Plc) Empresa Brasileira de 1.1 1.0 0.9 0.9
Bebidas e Alimentos SA
Ducoco Ducoco Alimentos SA 0.8 0.7 0.7 0.7
Crystal (Coca-Cola Coca-Cola Indústrias Ltda 0.7 0.7 0.7 0.7
Co, The)
Minalba (Minalba Minalba Alimentos e 0.6 0.6 0.7 0.7

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SOFT DRINKS IN BRAZIL Passport 15

Brasil) Bebidas Ltda

Kero-coco (PepsiCo Inc) Amacoco Água de Côco da 0.7 0.7 0.7 0.7
Amazônia Ltda
Prat's C L Pratinha-Eireli-ME 0.6 0.6 0.6 0.6
MID (Ajinomoto Co Inc) Ajinomoto Interamericana 0.7 0.7 0.7 0.6
Indústria e Comércio Ltda
H2OH! (PepsiCo Inc) Cia Brasileira de Bebidas 0.8 0.7 0.6 0.6
Bonafont (Danone, Danone Ltda 0.5 0.4 0.7 0.6
Groupe)
Baly Bebidas Grassi Do Brasil - - 0.4 0.5
Ltda
Sococo Sococo SA Indústrias 0.6 0.5 0.5 0.5
Alimentícias
Sukita (Anheuser- Cia Brasileira de Bebidas 0.5 0.5 0.4 0.4
Busch InBev NV)
Clight (Mondelez Mondelez Brasil Ltda 0.5 0.5 0.4 0.4
International Inc)
Private label Private Label 0.1 0.1 0.1 0.1
Others Others 43.4 44.0 41.6 41.2
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 23 Penetration of Private Label in Off-trade Soft Drinks (RTD) by Category: %

Volume 2018-2023

% retail rtd volume

2018 2019 2020 2021 2022 2023

Carbonates 0.5 0.5 0.5 0.5 0.6 0.6

Concentrates 0.6 0.6 0.6 0.6 0.7 0.7
Juice 0.1 0.1 0.1 0.1 0.1 0.1
Sports Drinks 0.2 0.2 0.2 0.1 0.1 0.1
Soft Drinks 0.4 0.4 0.4 0.4 0.4 0.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 24 Penetration of Private Label in Off-trade Soft Drinks by Category: % Value

2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Carbonates 0.2 0.2 0.3 0.2 0.2 0.2

Concentrates 0.2 0.2 0.2 0.2 0.2 0.2
Juice 0.0 0.0 0.0 0.0 0.0 0.0
Sports Drinks 0.1 0.1 0.1 0.1 0.1 0.1
Soft Drinks 0.1 0.1 0.1 0.1 0.1 0.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 25 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume 2018-2023

% off-trade
2018 2019 2020 2021 2022 2023

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SOFT DRINKS IN BRAZIL Passport 16

Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

- Retail Offline 99.8 99.8 99.7 99.6 99.5 99.5
-- Grocery Retailers 95.3 95.4 95.4 95.2 95.2 95.1
--- Convenience Retail 1.7 1.6 1.6 1.6 1.6 1.7
---- Convenience Stores 0.1 0.1 0.1 0.1 0.1 0.1
---- Forecourt Retailers 1.6 1.5 1.5 1.5 1.5 1.5
--- Supermarkets 33.9 35.1 36.2 36.2 35.2 35.8
--- Hypermarkets 29.7 29.0 27.4 27.3 27.0 25.0
--- Discounters 0.5 0.5 0.5 0.5 0.5 0.5
--- Warehouse Clubs 7.0 6.9 6.8 7.0 7.9 8.8
--- Food/drink/tobacco 0.2 0.4 0.5 0.2 0.1 0.2
specialists
--- Small Local Grocers 22.4 21.9 22.5 22.5 22.9 23.3
-- Non-Grocery Retailers 3.6 3.6 3.5 3.5 3.5 3.6
--- General Merchandise 3.5 3.4 3.4 3.4 3.4 3.4
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products - - - - - -
Specialists
--- Health and Beauty 0.1 0.1 0.1 0.1 0.2 0.2
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - -
Retailers
-- Vending 0.5 0.5 0.5 0.5 0.5 0.5
-- Direct Selling 0.3 0.3 0.3 0.4 0.3 0.3
- Retail E-Commerce 0.2 0.2 0.3 0.4 0.5 0.5
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 26 Distribution of Off-trade Soft Drinks (as sold) by Format and Category: %
Volume 2023

% off-trade
Bottled Carbonates Concentrat Juice RTD Coffee RTD Tea
Water es

Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

- Retail Offline 99.7 99.6 100.0 99.8 100.0 99.5
-- Grocery Retailers 95.4 95.5 98.0 91.6 98.9 95.7
--- Convenience Retail 1.6 1.7 0.0 1.0 58.7 2.3
---- Convenience Stores 0.3 0.0 0.0 0.2 1.9 0.1
---- Forecourt Retailers 1.3 1.6 0.0 0.8 56.8 2.2
--- Supermarkets 39.2 33.1 40.8 34.2 14.7 36.3
--- Hypermarkets 27.1 23.8 32.7 28.5 10.5 31.8
--- Discounters 0.7 0.4 0.3 0.3 0.0 0.2
--- Warehouse Clubs 9.8 7.9 4.4 9.4 3.1 7.6
--- Food/drink/tobacco 0.1 0.1 0.0 1.0 0.0 0.3
specialists
--- Small Local Grocers 16.9 28.6 19.7 17.2 11.9 17.2
-- Non-Grocery Retailers 4.2 3.2 2.0 4.1 1.1 1.4
--- General Merchandise 3.9 3.2 2.0 4.1 1.1 1.4

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SOFT DRINKS IN BRAZIL Passport 17

Stores
--- Apparel and 0.0 0.0 0.0 0.0 0.0 0.0
Footwear Specialists
--- Appliances and 0.0 0.0 0.0 0.0 0.0 0.0
Electronics Specialists
--- Home Products 0.0 0.0 0.0 0.0 0.0 0.0
Specialists
--- Health and Beauty 0.3 0.0 0.0 0.0 0.0 0.0
Specialists
--- Leisure and 0.0 0.0 0.0 0.0 0.0 0.0
Personal Goods
Specialists
--- Other Non-Grocery 0.0 0.0 0.0 0.0 0.0 0.0
Retailers
-- Vending 0.0 0.8 0.0 0.1 0.0 0.0
-- Direct Selling 0.0 0.0 0.0 4.1 0.0 2.3
- Retail E-Commerce 0.3 0.4 0.0 0.2 0.0 0.5
Total 100.0 100.0 100.0 100.0 100.0 100.0

Energy Sports Asian

Drinks Drinks Speciality
Drinks

Retail Channels 100.0 100.0 0.0

- Retail Offline 96.7 99.6 0.0
-- Grocery Retailers 93.9 94.2 0.0
--- Convenience Retail 2.8 4.9 0.0
---- Convenience Stores 0.1 0.8 0.0
---- Forecourt Retailers 2.7 4.1 0.0
--- Supermarkets 49.0 35.9 0.0
--- Hypermarkets 13.3 33.2 0.0
--- Discounters 0.1 0.1 0.0
--- Warehouse Clubs 13.4 6.0 0.0
--- Food/drink/tobacco 0.4 0.4 0.0
specialists
--- Small Local Grocers 14.9 13.6 0.0
-- Non-Grocery Retailers 2.7 5.2 0.0
--- General Merchandise 0.8 2.1 0.0
Stores
--- Apparel and 0.0 0.0 0.0
Footwear Specialists
--- Appliances and 0.0 0.0 0.0
Electronics Specialists
--- Home Products 0.0 0.0 0.0
Specialists
--- Health and Beauty 1.9 3.1 0.0
Specialists
--- Leisure and 0.0 0.0 0.0
Personal Goods
Specialists
--- Other Non-Grocery 0.0 0.0 0.0
Retailers
-- Vending 0.0 0.0 0.0
-- Direct Selling 0.1 0.2 0.0
- Retail E-Commerce 3.3 0.4 0.0
Total 100.0 100.0 0.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Key: BW = bottled water; CB = carbonates; CN = concentrates; JU = juice; RTDC = RTD coffee; RTDT = RTD
tea; ED = energy drinks; SPD = sports drinks; ASD = Asian speciality drinks
Note: Excludes powder concentrates

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Table 27 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume
2023-2028

million litres
2023 2024 2025 2026 2027 2028

Off-trade 28,723.3 29,490.5 30,097.0 30,592.5 31,005.0 31,357.6

On-trade 4,162.6 4,391.2 4,564.2 4,725.6 4,868.3 5,012.3
Total 32,885.9 33,881.7 34,661.2 35,318.1 35,873.3 36,369.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 28 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: %

Volume Growth 2023-2028

% volume growth
2023/24 2023-28 CAGR 2023/28 Total

Off-trade 2.7 1.8 9.2

On-trade 5.5 3.8 20.4
Total 3.0 2.0 10.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 29 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2023-
2028

BRL million
2023 2024 2025 2026 2027 2028

Off-trade 127,819.9 136,283.7 144,335.5 152,381.7 160,865.7 169,731.8

On-trade 55,088.2 60,461.2 65,460.1 70,509.4 75,589.5 81,061.9
Total 182,908.1 196,744.9 209,795.5 222,891.1 236,455.2 250,793.7
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 30 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value

Growth 2023-2028

% current value growth

2023/24 2023-28 CAGR 2023/28 Total

Off-trade 6.6 5.8 32.8

On-trade 9.8 8.0 47.1
Total 7.6 6.5 37.1
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 31 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2023-2028

million litres

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2023 2024 2025 2026 2027 2028

Bottled Water 7,173.6 7,279.0 7,353.1 7,406.1 7,441.9 7,470.8

Carbonates 12,875.2 13,384.2 13,779.5 14,116.0 14,379.4 14,560.0
Concentrates 5,610.5 5,401.2 5,159.8 4,925.3 4,701.5 4,488.0
Juice 1,862.3 1,993.2 2,115.9 2,237.5 2,353.9 2,476.3
RTD Coffee 1.1 1.2 1.3 1.5 1.8 2.1
RTD Tea 191.4 199.3 208.0 217.7 228.6 240.9
Energy Drinks 841.2 1,018.4 1,225.0 1,413.4 1,609.9 1,827.2
Sports Drinks 168.0 214.0 254.4 275.1 288.0 292.3
Asian Speciality Drinks - - - - - -
Soft Drinks 28,723.3 29,490.5 30,097.0 30,592.5 31,005.0 31,357.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: Excludes powder concentrates

Table 32 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth
2023-2028

% volume growth
2023/24 2023-28 CAGR 2023/28 Total

Bottled Water 1.5 0.8 4.1

Carbonates 4.0 2.5 13.1
Concentrates -3.7 -4.4 -20.0
Juice 7.0 5.9 33.0
RTD Coffee 7.5 13.3 86.3
RTD Tea 4.1 4.7 25.8
Energy Drinks 21.1 16.8 117.2
Sports Drinks 27.4 11.7 74.0
Asian Speciality Drinks - - -
Soft Drinks 2.7 1.8 9.2
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Note: Excludes powder concentrates

Table 33 Forecast Off-trade Sales of Soft Drinks by Category: Value 2023-2028

BRL million
2023 2024 2025 2026 2027 2028

Bottled Water 21,658.5 22,847.2 24,026.0 25,512.8 27,241.4 29,094.4

Carbonates 54,817.1 58,221.0 61,162.6 63,861.3 66,436.8 68,748.3
Concentrates 11,691.4 11,645.7 11,631.5 11,621.9 11,653.2 11,704.3
Juice 23,967.7 25,681.6 27,370.8 29,038.7 30,888.5 33,110.9
RTD Coffee 21.4 22.6 25.1 28.2 32.2 38.1
RTD Tea 3,718.2 4,024.2 4,316.5 4,605.5 4,876.8 5,150.1
Energy Drinks 9,862.6 11,174.4 12,612.9 14,240.2 16,080.3 18,156.6
Sports Drinks 2,083.2 2,667.1 3,190.1 3,473.3 3,656.5 3,729.2
Asian Speciality Drinks - - - - - -
Soft Drinks 127,819.9 136,283.7 144,335.5 152,381.7 160,865.7 169,731.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 34 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 2023-
2028

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SOFT DRINKS IN BRAZIL Passport 20

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

Bottled Water 5.5 6.1 34.3

Carbonates 6.2 4.6 25.4
Concentrates -0.4 0.0 0.1
Juice 7.2 6.7 38.1
RTD Coffee 5.7 12.3 78.3
RTD Tea 8.2 6.7 38.5
Energy Drinks 13.3 13.0 84.1
Sports Drinks 28.0 12.4 79.0
Asian Speciality Drinks - - -
Soft Drinks 6.6 5.8 32.8
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 35 Forecast Sales of Soft Drinks by Total Fountain On-trade: Volume 2023-2028

million litres
2023 2024 2025 2026 2027 2028

Total Fountain On-trade 254.9 263.2 268.8 272.9 277.0 281.0

Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 36 Forecast Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth
2023-2028

% fountain volume growth

2023/24 2023-28 CAGR 2023/28 Total

Total Fountain On-trade 3.3 2.0 10.2

Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

APPENDIX

Fountain sales in brazil

Trends
Fountain sales, primarily catering to on-trade outlets, are poised for a rebound in Brazil in
2023, benefiting from the resurgence of footfall in foodservice outlets and an increased desire
for out-of-home consumption post-COVID-19. Despite this potential, the category remains tightly
concentrated amongst a few key players and outlets, leaving limited room for strategic
expansion. This concentrated landscape persists as single-serve options continue to dominate
on-trade preferences, while fountain sales remain exclusive to specific foodservice chains,
typically situated in shopping centres.
Traditionally linked to fast food establishments, fountain sales in Brazil historically revolve
around carbonates and juice. With the revival of foodservice sales, both are anticipated to see

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further recovery in 2023, and carbonates is even set to return to the pre-pandemic level of sales
after its drastic loss in 2020, with this trend echoed in overall fountain sales of soft drinks. Coca-
Cola and Cia Brasileira de Bebidas (PepsiCo) stand as major players in this space, leveraging
partnerships with popular limited-service providers. However, the cautious single-digit recovery
observed highlights how the spectre of COVID-19 continues to influence public behaviour,
instilling apprehension regarding public spaces.
Looking ahead to the forecast period, growth is set to continue, albeit at a slower pace as
recovery to the 2019 level of sales has already been seen. Economic factors stemming from
COVID-19’s impact and the global macroeconomic landscape are anticipated to influence this
progression. Should stagflation loom, this would compel consumers to seek more cost-effective
beverage options, and the growth of fountain sales might face a deceleration.

DISCLAIMER
Forecast closing date: 30 October 2023
Report closing date: 29 November 2023
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2023 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.

SOURCES
Sources used during the research included the following:

Summary 1 Research Sources

Official Sources Cia Nacional de Abastecimento (CONAB)

Departamento Nacional de Produção Mineral

Secretaria de Comércio Exterior (SECEX)

Sistema Brasileiro de Café (SBICafé)

Trade Associations ABchá

Afrebras

Associação Brasileira da Indústria das Águas

Minerais (ABINAM)

Associação Brasileira da Industria de Café

(ABIC)

Associação Brasileira das Indústrias de

Refrigerantes (ABIR)

Associação Brasileira de Atacadistas e

Distribuidores (ABAD)

Associação Brasileira de Cafés Especiais

(ABCE)

Associação Brasileira dos Fabricantes de

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SOFT DRINKS IN BRAZIL Passport 22

Embalagens de PET (ABEPET)

Associação de Bares & Restaurantes

Diferenciados (ABREDI)

AssociaçãoBrasileira Indústria Café Solúvel

(ABICS)

CECAFÉ

International Bottled Water Association

International Federation of Fruit Juice

Producers

Trade Press Canal Rural

Diário Comércio, Indústria e Serviços

Estado de São Paulo OESP

Forbes

Jornal do Café

Jornal Folha de São Paulo

Jornal Valor Econômico

Portal New Trade

Revista Cafeicultura

Revista Consumidor Moderno

Revista Distribuiçao

Revista Doce

Revista Embalagem Marca

Revista Embanews

Revista Espresso

Revista Menu

Revista NoVarejo

Revista Super Hiper

Revista Supermercado Moderno

Soft Drinks International

Source: Euromonitor International

© Euromonitor International