12% Increase in Spending on Energy Drinks Among Mexicans
14:00 24/09/2024 - PesoMXN.com
Energy drinks have gained popularity among Mexican families. Although these beverages rank fifth on the list of preferences for Mexican consumers, household spending on this type of product has grown by 12%. This increase is attributed, in part, to inflation and rising prices, but also to greater consumption of these drinks, according to data provided by Kantar, a firm specializing in consumer analysis.
The most popular options among Mexican households are natural water in the first place, followed by mineral water; there are also sports drinks, ready-to-drink tea, and energy drinks. Since August of last year, INEGI has included energy drinks as an important component based on the 2022 National Household Expenditure Survey (ENIGH), which shows an increase in Mexican spending in this category. Between July 2023 and June 2024, Mexican households purchased 9% more liters of these beverages compared to the previous year, with purchase volume also rising by 5%, according to Kantar. This increase in energy drink consumption started during the pandemic when habits changed due to lockdowns. “The majority of this consumption happens outside of the home: in restaurants, bars, and similar venues. This consumption is closely related to situations like driving, especially on the road," explained Alberto Vázquez, account director at Kantar. He also mentioned that another reason behind this growth is the heatwave that has affected the country in recent years, which shows a spike in the purchase of these drinks from April to July. The consulting firm predicts that energy drink consumption will shift from “on-the-go” to increased consumption at home.
It’s interesting to see how lifestyle changes and climate conditions directly affect consumer behavior. The upward trend in spending on energy drinks could be a good opportunity for companies in the sector to develop products that align with consumer expectations while remaining competitive in a highly dynamic market. Staying informed about these trends can be key for financial planning, both at the family level and for businesses.
