Soft Drinks in Peru

SOFT DRINKS IN PERU
Euromonitor International
February 2016
SOFT DRINKS IN PERU
Passport
LIST OF CONTENTS AND TABLES

Executive Summary ..................................................................................................................... 1
Consumption of Healthy Beverages Increases in Peru............................................................. 1
Launch of Smaller Formats To Face Economy Deceleration .................................................... 1
Cbc and AmBev Sign Joint Venture To Manage Activities in Peru ........................................... 1
New Product Developments Focus on Functional and Healthier Beverages ............................ 1
Healthier Beverages Will Lead Growth in the Future ................................................................ 1
Key Trends and Developments .................................................................................................... 1
Awareness of Healthy Beverages Continues in Peru ............................................................... 2
How Companies Face the Economic Deceleration in the Industry ........................................... 2
Local Brands Show Leadership in Carbonates ......................................................................... 2
Market Data .................................................................................................................................. 3
Table 1
Table 2
Table 3
Table 4
Table 5
Table 6
Table 7
Table 8
Table 9
Table 10
Table 11
Table 12
Table 13
Table 14
Table 15
Table 16
Table 17
Table 18
Table 19
Table 20
Table 21
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel:

Volume 2010-2015 ....................................................................................... 3
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: %
Volume Growth 2010-2015 .......................................................................... 3
Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 20102015 ............................................................................................................. 3
Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value
Growth 2010-2015 ....................................................................................... 4
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category:
Volume 2015 ................................................................................................ 4
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: %
Volume 2015 ................................................................................................ 4
Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2015 ........... 5
Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2015....... 5
Off-trade Sales of Soft Drinks (as sold) by Category: Volume 20102015 ............................................................................................................. 5
Off-trade Sales of Soft Drinks (as sold) by Category: % Volume
Growth 2010-2015 ....................................................................................... 6
Off-trade Sales of Soft Drinks by Category: Value 2010-2015 ..................... 6
Off-trade Sales of Soft Drinks by Category: % Value Growth 20102015 ............................................................................................................. 6
Total Sales of Soft Drinks by Fountain On-trade: Volume 2010-2015 .......... 6
Total Sales of Soft Drinks by Fountain On-trade: % Volume Growth
2010-2015 .................................................................................................... 7
NBO Company Shares of Off-trade Soft Drinks (as sold): % Volume
2011-2015 .................................................................................................... 7
LBN Brand Shares of Off-trade Soft Drinks (as sold): % Volume 20122015 ............................................................................................................. 7
NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume
2011-2015 .................................................................................................... 9
LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 20122015 ............................................................................................................. 9
NBO Company Shares of Off-trade Soft Drinks: % Value 2011-2015 ........ 11
LBN Brand Shares of Off-trade Soft Drinks: % Value 2012-2015 .............. 11
Distribution of Off-trade Soft Drinks (as sold) by Format and Category:
% Volume 2015 .......................................................................................... 12
SOFT DRINKS IN PERU
Table 22
Table 23
Table 24
Table 25
Table 26
Table 27
Table 28
Table 29
Table 30
Table 31
Passport
Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by

Channel: Volume 2015-2020 ..................................................................... 13
Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by
Channel: % Volume Growth 2015-2020 ..................................................... 14
Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel:
Value 2015-2020 ........................................................................................ 14
Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: %
Value Growth 2015-2020 ........................................................................... 14
Forecast Off-trade Sales of Soft Drinks (as sold) by Category: Volume
2015-2020 .................................................................................................. 14
Forecast Off-trade Sales of Soft Drinks (as sold) by Category: %
Volume Growth 2015-2020 ........................................................................ 15
Forecast Off-trade Sales of Soft Drinks by Category: Value 20152020 ........................................................................................................... 15
Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth
2015-2020 .................................................................................................. 15
Forecast Total Sales of Soft Drinks by Fountain On-trade: Volume
2015-2020 .................................................................................................. 16
Forecast Total Sales of Soft Drinks by Fountain On-trade: % Volume
Growth 2015-2020 ..................................................................................... 16
Appendix .................................................................................................................................... 16
Fountain Sales in Peru ........................................................................................................... 16
Definitions................................................................................................................................... 16
Sources ...................................................................................................................................... 17
Summary 1
Research Sources ...................................................................................... 17
II
SOFT DRINKS IN PERU
SOFT DRINKS IN PERU

EXECUTIVE SUMMARY
Consumption of Healthy Beverages Increases in Peru
In 2015 Peruvian consumers were evidently choosing healthier beverages, as the
consumption of regular carbonates was decreasing compared to the consumption of other
options such as bottled water and juice. Peruvian consumers want to take care of their health
and overall wellness through better choices of food and drinks.
Launch of Smaller Formats To Face Economy Deceleration

Due to the deceleration of the Peruvian economy and the decrease in demand for regular
carbonate beverages, companies launched smaller formats in 2015. These smaller formats
allow consumers that are concerned about their health to indulge themselves with carbonated
beverages from time to time in small doses and also allow consumers that have budget
concerns to drink carbonates at an affordable price.
Cbc and AmBev Sign Joint Venture To Manage Activities in Peru

The Central American company CBC and the Brazilian AmBev have signed a joint venture for
the management of their business activities in Peru. CBC will handle the soft drinks operations
and AmBev the beer business in Peru. It should be noted that PepsiCo Inc selected Cia
Cervecera Ambev Per (AmBev) to be in charge of brands such as Pepsi, 7-Up, Evervess,
Lipton Ice Tea, San Carlos, Concordia, Triple Kola and Gatorade.
New Product Developments Focus on Functional and Healthier

Beverages
In 2015, launches in the soft drink industry were focused on functional and healthy beverages.
Even though carbonated beverages appeared on the market, the launches of functional
beverages such as Frugos Nutri Defensas in the juice category or Cielo Q10, bottled water
enriched with the coenzyme Q10, are the ones that captivated consumers. In the last trimester
of 2014 Corp Lindley launched La Moradita de Inca Kola, a carbonated beverage flavoured with
chicha morada, but unfortunately consumers did not take to the beverage and the company
withdrew it from the market six months afterward.
Healthier Beverages Will Lead Growth in the Future

Bottled water, RTD tea, juices and sports drinks are expected to see the fastest growth over
the 2015-2020 forecast period due to the preference of Peruvian consumers for healthier
beverages. On the other hand, growth of carbonates in the forecast period is going to be limited,
and consumers are expected to favour the low-calorie options despite there still being no offer of
beverages sweetened with natural ingredients.
KEY TRENDS AND DEVELOPMENTS
Passport
SOFT DRINKS IN PERU
Awareness of Healthy Beverages Continues in Peru

The concern of Peruvians for healthy food and beverages is a strong trend and it drives the
growth of categories such as bottled water, juices, RTD tea and sports drinks. The high content
of sugar of carbonates and their negative impact on health lead consumers to choose healthier
beverage options, therefore the growth of carbonates is losing strength over time.
Due to the Peruvian governments concern about the high rate of overweight children it
strengthened the law against junk food at schools and is further enforcing the law on companies
regarding the correct communication of ingredients of food and beverages, especially to young
people. The Ministry of Health promotes healthy eating habits in different campaigns and local
municipalities encourage people to practice sports and do more physical activities in order to
avoid diseases related to bad eating habits and a sedentary lifestyle.
Outlook
The industry aligns its offers with consumer demand; the launch of healthier beverage options
is the companies response to the growing concern about health and wellness, the high
consumption of sugar that can lead to diabetes, obesity and other health problems.
How Companies Face the Economic Deceleration in the Industry

Perus economic deceleration started within the last two years of the 2010-2015 review period
due to a decrease in mining production along with low prices and economic crisis in other parts
of the world that led Peruvian exports to decrease. This caused a drop in the GDP. Slower
Peruvian GDP growth causes internal consumption to stagnate, which makes companies even
more concerned about increasing their market share and sales within the industry.
The industry reaction to the Peruvian deceleration has been quick, resulting in the launch of
smaller formats in carbonates that allow consumers to keep up with their consumption habits but
also create more moments to enjoy the carbonated beverages. Companies are promoting the
use of family-size returnable glass bottles instead of plastic disposable ones in order to cheapen
costs and reuse the bottles but it is also a way to bring consumers their beverages at the right
price.
Outlook
The Peruvian market is expected to keep growing despite the economic deceleration,
basically because more individuals are leaving poverty levels to become part of the growing
middle class but also due to the fast expansion of retailing channels all over the country. The
penetration rate of modern retailers is still low compared to other countries in the region and this
will maintain consumption rates high in the next 5-10 years.
Companies need to keep up with their product development and marketing efforts in order to
increase their market shares. The launch of healthier beverage options as well as formats will
be determined by consumer demand.
Local Brands Show Leadership in Carbonates

The leadership of Coca-Cola around the world is undeniable, and this phenomenon is
experienced also in Latin America; however, Perus second-ranked carbonate beverage is still
the local brand Inca Kola. In 2015 Inca Kola celebrated its 80 years in the market; the beverage
was launched by Corp Lindley, a Peruvian company with over 100 years of activities and one of
the most important business groups in the country. In 1999 Corp Lindley signed a joint venture
with Coca-Cola Company, which is now the GBO of Inca Kola, and from that moment the brand
Inca Kola has generally flourished.
Passport
SOFT DRINKS IN PERU
Passport
The success of Inca Kola is the use of the target audiences identity, making the brand a
symbol of Peru but also creating marketing campaigns that are associated with positive aspects
of Peru, such as family values in the 1980s, typical Peruvian food in the 1990s and appealing to
the Peruvian creativity in the early 2000s; the latest campaigns strive to be more interactive with
consumers through social media.
Outlook
Peruvians are experiencing a time of appreciation for the Peruvian culture: the food, the
history, the places to visit and also the beverages. Inca Kola is one example of how Peruvians
consumption patterns are changing from preferring imported products for their high quality and
brand association to preferring Peruvian products for their flavour, identity connotation and
history. Chicha morada, a natural beverage made from the boiling of Peruvian purple corn is
another example of this trend, even though the chicha morada (flavoured) beverage Corp
Lindley introduced in 2014 did not appeal to consumers and was withdrawn only months later.
In the future, new product developments will include not only natural products, but functional
products that may have been part of the Peruvian culture and history. This will only occur
through the initiative of well-established companies with wide coverage on supermarket shelves
so consumers can have more options in the beverage aisles.
MARKET DATA
Table 1
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: Volume

2010-2015
million litres
Off-trade
On-trade
Total
Source:
Note:
2010
2011
2012
2013
2014
2015
2,149.1
299.6
2,448.6
2,310.1
315.2
2,625.4
2,429.4
337.2
2,766.6
2,416.5
352.2
2,768.7
2,476.1
360.8
2,836.8
2,616.7
373.1
2,989.8
Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Excludes powder concentrates
Table 2
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: % Volume

Growth 2010-2015
% volume growth
Off-trade
On-trade
Total
Source:
Note:
2014/15
2010-15 CAGR
2010/15 TOTAL
5.7
3.4
5.4
4.0
4.5
4.1
21.8
24.5
22.1
Table 3
Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2010-2015
PEN million
2010
2011
2012
2013
2014
2015
SOFT DRINKS IN PERU
Off-trade
On-trade
Total
Source:
Passport
4,988.9
2,371.2
7,360.1
5,402.3
2,556.0
7,958.3
5,752.6
2,801.2
8,553.8
5,948.4
3,020.1
8,968.6
6,268.6
3,159.9
9,428.4
6,721.1
3,337.2
10,058.3
Table 4
Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 20102015
% constant value growth
Off-trade
On-trade
Total
Source:
2014/15
2010-15 CAGR
2010/15 TOTAL
7.2
5.6
6.7
6.1
7.1
6.4
34.7
40.7
36.7
Table 5
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume

2015
million litres
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Sports and Energy Drinks
Asian Speciality Drinks
Soft Drinks
Source:
Note:
Table 6
Off-trade
On-trade
TOTAL
598.8
1,443.7
353.4
0.0
68.1
152.8
2,616.7
55.8
306.1
10.3
0.9
373.1
654.6
1,749.8
363.7
0.0
68.1
153.6
2,989.8
Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume

2015
% volume analysis

Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Off-trade
On-trade
Total
91.5
82.5
97.2
100.0
100.0
87.5
99.4
8.5
17.5
2.8
12.5
0.6
100.0
100.0
100.0
100.0
100.0
100.0
100.0
SOFT DRINKS IN PERU
Note:
Passport
Table 7
Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2015
PEN million
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Off-trade
On-trade
TOTAL
1,139.8
3,352.1
80.5
903.5
0.4
366.8
878.0
6,721.1
248.3
2,885.6
134.6
68.7
3,337.2
1,388.1
6,237.6
80.5
1,038.2
0.4
366.8
946.7
10,058.3
Table 8
Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2015
% value analysis

Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Off-trade
On-trade
Total
82.1
53.7
100.0
87.0
100.0
100.0
66.8
92.7
17.9
46.3
13.0
33.2
7.3
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Table 9
Off-trade Sales of Soft Drinks (as sold) by Category: Volume 2010-2015
million litres
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Note:
2010
2011
2012
2013
2014
2015
305.5
1,441.1
298.4
26.3
77.6
2,149.1
375.6
1,476.2
325.8
32.9
99.6
2,310.1
494.5
1,428.4
351.4
42.1
113.0
2,429.4
506.7
1,396.4
337.2
0.0
50.1
126.0
2,416.5
537.6
1,405.7
336.9
0.0
57.8
138.2
2,476.1
598.8
1,443.7
353.4
0.0
68.1
152.8
2,616.7
SOFT DRINKS IN PERU
Table 10
Passport
Off-trade Sales of Soft Drinks (as sold) by Category: % Volume Growth 20102015
% volume growth
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Note:
2014/15
2010-15 CAGR
2010/15 Total
11.4
2.7
4.9
7.1
17.8
10.5
5.7
14.4
0.0
3.4
20.9
14.5
4.0
96.0
0.2
18.4
158.4
96.8
21.8
Table 11
Off-trade Sales of Soft Drinks by Category: Value 2010-2015
PEN million
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Table 12
2010
2011
2012
2013
2014
2015
533.2
3,079.9
79.4
718.6
136.8
440.9
4,988.9
665.0
3,165.7
79.1
759.3
170.9
562.2
5,402.3
892.0
3,100.2
79.4
831.2
213.5
636.3
5,752.6
924.1
3,129.4
79.1
846.1
0.3
260.7
708.7
5,948.4
1,002.5
3,232.3
79.3
864.1
0.3
309.8
780.2
6,268.6
1,139.8
3,352.1
80.5
903.5
0.4
366.8
878.0
6,721.1
Off-trade Sales of Soft Drinks by Category: % Value Growth 2010-2015
% current value growth
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Table 13
2014/15
2010-15 CAGR
2010/15 Total
13.7
3.7
1.5
4.6
9.9
18.4
12.5
7.2
16.4
1.7
0.3
4.7
21.8
14.8
6.1
113.8
8.8
1.4
25.7
168.2
99.1
34.7
Total Sales of Soft Drinks by Fountain On-trade: Volume 2010-2015
SOFT DRINKS IN PERU
Passport
million litres
Total Fountain On-trade

Source:
Table 14
2010
2011
2012
2013
2014
2015
12.6
13.2
13.8
14.6
15.4
16.2
Total Sales of Soft Drinks by Fountain On-trade: % Volume Growth 20102015
% fountain volume growth

Source:
Table 15
Table 16
2010/15 TOTAL
5.6
5.1
28.5
NBO Company Shares of Off-trade Soft Drinks (as sold): % Volume 20112015
Corp Lindley SA
Ajeper SA
Cia Cervecera Ambev
Per SAC
Gloria SA, Grupo
Embotelladora Don Jorge
SA
Coca-Cola Co, The
Laive SA
Industrias San Miguel
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
La Cosecha Peruana SAC
Inversiones Rind SAC
P&D Andina Alimentos SA
Trifarma SA
Watt's Per SA
Perufarma SA
Embotelladora Demesa SA
Food Pack SAC
Consorcio Bander SA
Pepsi-Cola Panamericana
Per SRL
Corp Jos R Lindley SA
Others
Total
Note:
2010-15 CAGR
% off-trade volume
Company
Source:
2014/15
2011
2012
2013
2014
2015
50.1
24.0
10.2
48.9
25.3
9.5
48.9
25.5
9.5
48.9
25.7
9.3
48.3
26.3
9.2
2.8
2.3
2.9
2.2
2.7
2.4
2.8
2.4
2.9
2.4
0.3
0.3
2.3
0.0
0.3
0.3
2.3
0.0
0.3
0.3
2.2
0.0
0.3
0.3
2.2
1.9
0.3
0.3
0.3
0.3
0.1
0.1
0.1
0.1
0.1
0.1
0.0
0.0
0.1
0.2
0.2
0.2
0.1
0.1
0.1
0.1
0.0
0.0
-
0.2
0.2
0.2
0.1
0.1
0.1
0.0
-
0.2
0.2
0.2
0.1
0.1
0.1
0.0
-
0.2
0.2
0.2
0.1
0.1
0.1
0.0
0.0
-
6.7
100.0
7.2
100.0
7.3
100.0
7.1
100.0
7.0
100.0
LBN Brand Shares of Off-trade Soft Drinks (as sold): % Volume 2012-2015
SOFT DRINKS IN PERU
% off-trade volume
Brand (GBO)
Coca-Cola (CocaCola Co, The)
Inca Kola (CocaCola Co, The)
Cielo (Aje Group)
San Luis (Coca-Cola
Co, The)
Kola Real (Aje Group)
Pepsi (PepsiCo Inc)
Cifrut (Aje Group)
Inca Kola Light
(Coca-Cola Co, The)
Sprite (Coca-Cola
Co, The)
Sporade (Aje Group)
Frugos (Coca-Cola
Co, The)
Gloria
Gatorade (PepsiCo
Inc)
7-Up (PepsiCo Inc)
Powerade (Coca-Cola
Co, The)
Pulp (Aje Group)
Big Cola (Aje Group)
Aquarius (Coca-Cola
Co, The)
Peru Cola
Vida
Isaac Kola
Guaran Backus
Free Tea (Aje Group)
Fanta (Coca-Cola
Co, The)
San Mateo
Coca-Cola Zero
(Coca-Cola Co, The)
Fanta Kola Inglesa
(Coca-Cola Co, The)
Lipton Ice Tea
(Unilever Group)
Tampico (Houchens
Industries Inc)
Oro (Aje Group)
Guaran Backus
(SABMiller Plc)
San Mateo
(SABMiller Plc)
Kola Inglesa (CocaCola Co, The)
Others
Total
Passport
Company (NBO)
2012
2013
2014
2015
Corp Lindley SA
15.5
15.3
15.0
14.7
Corp Lindley SA
13.4
13.1
12.9
12.4
Ajeper SA
Corp Lindley SA
8.0
7.8
8.4
8.2
8.9
8.7
9.5
9.2
Ajeper SA
Cia Cervecera Ambev
Per SAC
Ajeper SA
Corp Lindley SA
7.6
4.9
7.4
4.7
7.3
4.6
7.1
4.5
4.4
3.3
4.1
3.3
3.8
3.2
3.8
3.1
Corp Lindley SA
2.4
2.3
2.3
2.2
Ajeper SA
Corp Lindley SA
1.6
2.0
1.8
2.1
1.9
2.1
2.0
2.0
Gloria SA, Grupo

Cia Cervecera Ambev
Per SAC
Cia Cervecera Ambev
Per SAC
Corp Lindley SA
2.1
1.4
1.8
1.5
1.8
1.6
1.9
1.7
1.6
1.5
1.5
1.5
1.1
1.2
1.4
1.4
Ajeper SA
Ajeper SA
Corp Lindley SA
1.2
1.0
0.9
1.3
1.1
0.9
1.3
1.1
0.9
1.2
1.0
0.9
Embotelladora Don Jorge SA

Coca-Cola Co, The
Ajeper SA
Corp Lindley SA
0.9
0.5
0.8
0.6
0.7
0.9
0.7
0.8
0.6
0.7
0.9
0.7
0.8
0.7
0.7
0.9
0.8
0.7
0.7
0.7
0.7
Coca-Cola Co, The

Corp Lindley SA
0.6
0.6
0.6
0.6
0.6
0.5
0.5
0.5
Cia Cervecera Ambev

Per SAC
Gloria SA, Grupo
0.4
0.4
0.5
0.5
0.4
0.4
0.4
0.4
Ajeper SA
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Corp Lindley SA
0.4
0.8
0.4
0.8
0.4
0.8
0.4
-
0.6
0.6
0.6
0.5
12.5
100.0
12.7
100.0
12.4
100.0
12.4
100.0
Corp Lindley SA
Others
Total
SOFT DRINKS IN PERU
Source:
Note:
Table 17
Passport
NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2011-2015
% off-trade volume
Company
Corp Lindley SA
Ajeper SA
Cia Cervecera Ambev
Per SAC
Gloria SA, Grupo
SA
Coca-Cola Co, The
Laive SA
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Trifarma SA
Watt's Per SA
Perufarma SA
Food Pack SAC
Alicorp SAA
Kraft Foods Per SA
Corporacin Tres Montes
Per SA
Productos Extragel
Universal SAC
Consorcio Bander SA
Per SRL
Others
Total
Source:
Table 18
2011
2012
2013
2014
2015
46.7
22.4
9.5
45.4
23.5
8.8
45.0
23.5
8.7
45.2
23.8
8.6
45.0
24.5
8.6
2.6
2.2
2.7
2.1
2.5
2.2
2.6
2.2
2.7
2.2
0.3
0.3
2.1
0.0
0.3
0.3
2.1
0.0
0.3
0.3
2.1
0.0
0.3
0.3
2.0
1.8
0.3
0.3
0.3
0.3
0.1
0.1
0.1
0.1
0.1
0.1
0.0
3.0
0.6
2.8
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.0
3.3
0.5
2.9
0.2
0.1
0.2
0.1
0.1
0.1
0.0
3.4
0.5
3.5
0.2
0.2
0.2
0.1
0.1
0.1
0.0
3.3
0.5
0.3
0.2
0.2
0.2
0.1
0.1
0.1
0.0
0.0
-
0.1
0.1
0.1
0.1
0.0
0.1
0.0
-
6.5
100.0
7.0
100.0
7.1
100.0
9.9
100.0
13.4
100.0
LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2012-2015
% off-trade volume
Brand (GBO)
Cielo (Aje Group)
San Luis (Coca-Cola
Co, The)
Company (NBO)
2012
2013
2014
2015
Corp Lindley SA
14.4
14.1
13.9
13.7
Corp Lindley SA
12.5
12.1
11.9
11.5
Ajeper SA
Corp Lindley SA
7.4
7.3
7.8
7.6
8.2
8.0
8.8
8.5
Ajeper SA
7.1
6.8
6.7
6.6
SOFT DRINKS IN PERU
Pepsi (PepsiCo Inc)

Cifrut (Aje Group)
Inca Kola Light
(Coca-Cola Co, The)
Sprite (Coca-Cola
Co, The)
Sporade (Aje Group)
Frugos (Coca-Cola
Co, The)
Gloria
Gatorade (PepsiCo
Inc)
7-Up (PepsiCo Inc)
Powerade (Coca-Cola
Co, The)
Pulp (Aje Group)
Aquarius (Coca-Cola
Co, The)
Peru Cola
Vida
Isaac Kola
Guaran Backus
Fanta (Coca-Cola
Co, The)
San Mateo
Coca-Cola Zero
(Coca-Cola Co, The)
Fanta Kola Inglesa
(Coca-Cola Co, The)
Lipton Ice Tea
(Unilever Group)
Tampico (Houchens
Industries Inc)
Oro (Aje Group)
Negrita
Kan
Guaran Backus
(SABMiller Plc)
San Mateo
(SABMiller Plc)
Clight (Mondelez
International Inc)
Yaps
Kirib
Zuko (Tresmontes
Lucchetti SA)
Kola Inglesa (CocaCola Co, The)
Others
Total
Source:
Passport
Cia Cervecera Ambev

Per SAC
Ajeper SA
Corp Lindley SA
4.5
4.3
4.3
4.1
4.1
3.1
3.8
3.0
3.5
3.0
3.6
2.9
Corp Lindley SA
2.2
2.1
2.1
2.1
Ajeper SA
Corp Lindley SA
1.4
1.9
1.6
1.9
1.7
1.9
1.8
1.8
Gloria SA, Grupo

Cia Cervecera Ambev
Per SAC
Cia Cervecera Ambev
Per SAC
Corp Lindley SA
1.9
1.3
1.6
1.4
1.7
1.5
1.7
1.6
1.4
1.4
1.4
1.4
1.0
1.1
1.3
1.3
Ajeper SA
Ajeper SA
Corp Lindley SA
1.1
0.9
0.8
1.2
1.0
0.8
1.2
1.0
0.9
1.1
1.0
0.9

Coca-Cola Co, The
Ajeper SA
Corp Lindley SA
0.8
0.5
0.8
0.6
0.7
0.8
0.6
0.7
0.5
0.6
0.8
0.7
0.7
0.6
0.6
0.8
0.7
0.7
0.7
0.7
0.6
Coca-Cola Co, The

Corp Lindley SA
0.6
0.6
0.6
0.6
0.5
0.5
0.5
0.5
Cia Cervecera Ambev

Per SAC
Gloria SA, Grupo
0.4
0.4
0.4
0.5
0.4
0.4
0.4
0.4
Ajeper SA
Alicorp SAA
Alicorp SAA
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Kraft Foods Per SA
0.4
1.8
0.8
0.7
0.3
1.9
0.8
0.7
0.3
1.8
0.8
0.7
0.3
-
0.5
0.5
0.6
0.5
0.5
0.5
Alicorp SAA
Alicorp SAA
Per SA
Corp Lindley SA
0.4
0.3
2.9
0.4
0.4
-
0.4
0.3
-
0.5
12.1
100.0
15.7
100.0
15.3
100.0
18.5
100.0
Corp Lindley SA
Others
Total
10
SOFT DRINKS IN PERU
Table 19
Passport
NBO Company Shares of Off-trade Soft Drinks: % Value 2011-2015
% off-trade value rsp

Company
Corp Lindley SA
Ajeper SA
Cia Cervecera Ambev
Per SAC
Gloria SA, Grupo
SA
Coca-Cola Co, The
Perufarma SA
Alicorp SAA
Laive SA
Trifarma SA
Kraft Foods Per SA
Per SA
Watt's Per SA
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Food Pack SAC
Productos Extragel
Universal SAC
Consorcio Bander SA
Per SRL
Others
Total
Source:
2011
2012
2013
2014
2015
49.2
20.7
12.0
47.7
22.1
11.7
47.8
22.3
11.7
47.4
22.7
11.7
46.7
23.3
11.7
2.7
1.7
2.9
1.7
2.6
1.9
2.7
1.9
2.8
1.9
1.0
0.7
0.8
0.5
0.1
0.2
0.2
0.3
0.3
0.0
1.0
0.6
0.8
0.5
0.3
0.3
0.2
0.3
0.3
0.0
1.0
0.6
0.7
0.6
0.3
0.3
0.2
0.3
0.3
0.0
1.1
0.6
0.7
0.5
0.3
0.3
0.3
0.3
0.2
1.6
1.1
0.7
0.7
0.5
0.3
0.3
0.3
0.3
0.2
0.3
0.2
1.9
0.3
0.2
1.9
0.2
0.2
1.8
0.2
0.2
1.8
0.2
0.2
0.2
0.1
0.1
0.0
0.1
0.1
0.0
0.1
0.0
0.1
0.0
0.1
0.0
0.0
0.0
0.1
0.0
-
6.8
100.0
7.2
100.0
7.1
100.0
6.9
100.0
6.7
100.0
Table 20
LBN Brand Shares of Off-trade Soft Drinks: % Value 2012-2015
% off-trade value rsp

Brand (GBO)
Cielo (Aje Group)
San Luis (Coca-Cola
Co, The)
Gatorade (PepsiCo
Inc)
Pepsi (PepsiCo Inc)
Inca Kola Light
Company (NBO)
2012
2013
2014
2015
Corp Lindley SA
14.4
14.3
14.0
13.6
Corp Lindley SA
13.1
12.6
12.4
11.9
Ajeper SA
Corp Lindley SA
5.9
5.8
6.0
6.0
6.3
6.2
6.8
6.6
Ajeper SA
Cia Cervecera Ambev
Per SAC
Cia Cervecera Ambev
Per SAC
Corp Lindley SA
6.0
4.2
5.6
4.4
5.6
4.5
5.4
4.7
4.1
3.8
3.7
3.6
3.2
3.3
3.2
3.1
11
SOFT DRINKS IN PERU
(Coca-Cola Co, The)

Sporade (Aje Group)
Frugos (Coca-Cola
Co, The)
Powerade (Coca-Cola
Co, The)
Cifrut (Aje Group)
Sprite (Coca-Cola
Co, The)
Pulp (Aje Group)
Gloria
Lipton Ice Tea
(Unilever Group)
7-Up (PepsiCo Inc)
Red Bull (Red Bull
GmbH)
Aquarius (Coca-Cola
Co, The)
Coca-Cola Zero
(Coca-Cola Co, The)
Peru Cola
Fanta (Coca-Cola
Co, The)
Vida
Beberash
Free Tea Light (Aje
Group)
Guaran Backus
San Mateo
Sporade Light (Aje
Group)
Guaran Backus
(SABMiller Plc)
Others
Total
Source:
Passport
Ajeper SA
Corp Lindley SA
2.5
3.2
2.8
3.4
2.9
3.3
3.1
3.1
Corp Lindley SA
2.1
2.4
2.6
2.7
Ajeper SA
Corp Lindley SA
2.6
2.2
2.4
2.1
2.3
2.1
2.3
2.0
Ajeper SA
Gloria SA, Grupo
Ajeper SA
Cia Cervecera Ambev
Per SAC
Cia Cervecera Ambev
Per SAC
Perufarma SA
1.9
2.1
1.3
0.9
2.0
1.7
1.3
1.1
2.0
1.8
1.5
1.2
1.9
1.8
1.6
1.3
1.2
1.1
1.1
1.1
1.0
1.0
1.1
1.1
Corp Lindley SA
0.9
0.9
0.9
0.9
Corp Lindley SA
0.9
0.9
0.9
0.9
Ajeper SA
Corp Lindley SA
0.8
0.7
0.7
0.8
0.7
0.7
0.8
0.7
0.7
0.8
0.7
0.7

Ajeper SA
0.4
0.6
0.5
0.6
0.6
0.6
0.7
0.6
0.6
0.7
0.7
0.7
Coca-Cola Co, The

Coca-Cola Co, The
Ajeper SA
0.4
0.5
0.5
0.6
0.6
0.5
Unin de Cerveceras
Peruanas Backus &
Johnston SAA
Others
Total
0.6
0.6
0.6
15.7
100.0
15.8
100.0
15.4
100.0
14.7
100.0
Table 21
Distribution of Off-trade Soft Drinks (as sold) by Format and Category: %

Volume 2015
% off-trade
Store-Based Retailing
- Grocery Retailers
-- Modern Grocery
Retailers
--- Convenience Stores
--- Discounters
--- Forecourt Retailers
--- Hypermarkets
--- Supermarkets
-- Traditional Grocery
Retailers
BW
CON
RTD C
RTD T
92.3
92.3
15.5
100.0
100.0
14.8
0.0
0.0
0.0
100.0
100.0
22.1
100.0
100.0
11.3
100.0
100.0
11.3
0.0
0.0
0.2
8.6
6.7
76.8
0.0
0.0
0.2
8.0
6.6
85.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.3
11.9
9.8
77.9
0.0
0.0
0.0
6.2
5.1
88.7
0.0
0.0
0.0
6.2
5.1
88.7
12
SOFT DRINKS IN PERU
--- Food/drink/tobacco
specialists
--- Independent Small
Grocers
--- Other Grocery
Retailers
- Mixed Retailers
- Non-Grocery Specialists
Non-Store Retailing
- Vending
- Homeshopping
- Internet Retailing
- Direct Selling
Total
Store-Based Retailing
- Grocery Retailers
-- Modern Grocery
Retailers
--- Convenience Stores
--- Discounters
--- Forecourt Retailers
--- Hypermarkets
--- Supermarkets
-- Traditional Grocery
Retailers
--- Food/drink/tobacco
specialists
--- Independent Small
Grocers
--- Other Grocery
Retailers
- Mixed Retailers
- Non-Grocery Specialists
Non-Store Retailing
- Vending
- Homeshopping
- Internet Retailing
- Direct Selling
Total
Source:
Key:
Note:
Passport
0.0
0.0
0.0
0.0
0.0
0.0
58.0
72.2
0.0
61.5
71.0
71.0
18.8
13.0
0.0
16.4
17.7
17.7
0.0
0.0
7.8
0.0
0.0
0.0
7.8
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
SED
ASD
100.0
100.0
14.9
0.0
0.0
0.0
0.0
0.0
0.0
8.3
6.6
85.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
61.8
0.0
23.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
100.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
BW = bottled water; C = carbonates; CON = concentrates; J = juice; RTD C = RTD coffee; RTD T = RTD
tea; SED = sports and energy drinks; ASD = Asian speciality drinks
Table 22
Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel:

Volume 2015-2020
million litres
Off-trade
On-trade
Total
Source:
2015
2016
2017
2018
2019
2020
2,616.7
373.1
2,989.8
2,728.6
384.0
3,112.6
2,823.2
394.1
3,217.4
2,929.2
405.1
3,334.3
3,041.4
416.8
3,458.1
3,163.8
429.0
3,592.8
Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
13
SOFT DRINKS IN PERU
Note:
Passport
Table 23
Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: %

Volume Growth 2015-2020
% volume growth
Off-trade
On-trade
Total
Source:
Note:
2015/16
2015-20 CAGR
2015/20 TOTAL
4.3
2.9
4.1
3.9
2.8
3.7
20.9
15.0
20.2
trade sources
Table 24
Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 20152020
PEN million
Off-trade
On-trade
Total
Source:
2015
2016
2017
2018
2019
2020
6,721.1
3,337.2
10,058.3
7,050.3
3,452.9
10,503.2
7,343.4
3,564.2
10,907.5
7,666.8
3,686.2
11,353.1
8,316.6
3,817.8
12,134.4
8,691.2
3,956.8
12,648.0
trade sources
Table 25
Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value

Growth 2015-2020
Off-trade
On-trade
Total
Source:
2015/16
2015-20 CAGR
2015/20 TOTAL
4.9
3.5
4.4
5.3
3.5
4.7
29.3
18.6
25.7
trade sources
Table 26
Forecast Off-trade Sales of Soft Drinks (as sold) by Category: Volume 20152020
million litres
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
2015
2016
2017
2018
2019
2020
598.8
1,443.7
353.4
0.0
68.1
152.8
2,616.7
657.5
1,461.7
363.2
0.0
78.9
167.3
2,728.6
715.1
1,466.1
369.5
0.0
90.6
181.9
2,823.2
774.5
1,478.8
376.5
0.0
102.6
196.7
2,929.2
836.5
1,498.2
384.3
0.0
114.9
207.4
3,041.4
901.7
1,523.4
392.9
0.0
127.4
218.3
3,163.8
14
SOFT DRINKS IN PERU
Source:
Note:
Passport
trade sources
Table 27
Forecast Off-trade Sales of Soft Drinks (as sold) by Category: % Volume

Growth 2015-2020
% volume growth
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Note:
2015/16
2015-20 CAGR
2015/20 Total
9.8
1.2
2.8
5.5
16.0
9.5
4.3
8.5
1.1
2.1
4.5
13.4
7.4
3.9
50.6
5.5
11.2
24.7
87.2
42.9
20.9
trade sources
Table 28
Forecast Off-trade Sales of Soft Drinks by Category: Value 2015-2020
PEN million
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
Source:
Table 29
2015
2016
2017
2018
2019
2020
1,139.8
3,352.1
80.5
903.5
0.4
366.8
878.0
6,721.1
1,252.0
3,399.8
80.7
930.9
0.4
425.9
960.7
7,050.3
1,362.4
3,417.6
80.6
948.8
0.4
489.7
1,043.9
7,343.4
1,476.6
3,455.3
80.7
969.8
0.4
555.3
1,128.7
7,666.8
1,595.8
3,508.8
81.2
994.0
0.4
622.5
1,513.8
8,316.6
1,721.3
3,576.0
81.9
1,021.4
0.5
691.3
1,598.9
8,691.2
trade sources
Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 20152020
Bottled Water
Carbonates
Concentrates
Juice
RTD Coffee
RTD Tea
Soft Drinks
2015/2016
2015-20 CAGR
2015/20 TOTAL
9.8
1.4
0.3
3.0
6.1
16.1
9.4
4.9
8.6
1.3
0.3
2.5
5.4
13.5
12.7
5.3
51.0
6.7
1.7
13.0
29.9
88.4
82.1
29.3
15
SOFT DRINKS IN PERU
Source:
Passport
trade sources
Table 30
Forecast Total Sales of Soft Drinks by Fountain On-trade: Volume 2015-2020
million litres

Source:
2015
2016
2017
2018
2019
2020
16.2
17.2
18.1
19.1
20.1
21.1
trade sources
Table 31
Forecast Total Sales of Soft Drinks by Fountain On-trade: % Volume Growth

2015-2020
% fountain volume growth

Source:
2015/16
2015-20 CAGR
2015/20 TOTAL
5.7
5.3
29.7
trade sources
APPENDIX
Fountain Sales in Peru
Trends
Total fountain on-trade volume grew by 6% in 2015, a similar rate to that seen in 2014, and
sales amounted to 16.2 million litres. Fountain sales in the country are only available through
on-trade sales, and carbonates is the only category where fountain beverages are available.
Growth in fountain sales is driven by growth of the consumer foodservice industry in the
country. Even the sales of carbonates are growing at a slower pace on the off-trade channel.
The on-trade channel is more dynamic, as growth of the purchasing power of Peruvians
allows them to eat out more at lunch or dinner time.
The leading soft drink companies in Peru are Corp Lindley with worldwide brands such as
Coca Cola, Sprite and Fanta but also the local leader brand, Inca Kola. However, other
franchises have joined with PepsiCo to dispense the brands Pepsi, 7-Up and Concordia.
Growth of fountain drinks is expected to continue over the forecast period, driven by the
increase of Peruvians purchasing power and their preference for eating out. Fast food chains
are the main distribution point for fountain drinks and they are expected to grow, mostly in
provinces outside Lima through mall openings. It is also expected that consumers will
demand, even at fast food chains, healthier beverage choices and therefore there should be
an increase in demand for low-calorie carbonates and the addition of more options such as
RTD tea or water.
DEFINITIONS
Explanations of words and/or terminology used in this report are as follows:
16
SOFT DRINKS IN PERU
Passport
Chicha morada: Drink made from the Peruvian purple corn, mixed with pineapple and spices
Emoliente: Local beverage prepared with toasted barley, flax seeds and lime. Sometimes it
can also include other traditional medicinal herbs such as horsetail, boldo, stonebreaker, cats
claw and aloe vera.
Pisco: A Peruvian grape-based white spirit
SOURCES
Sources used during the research included the following:
Summary 1
Research Sources
Official Sources
Conasev
Instituto Nacional de Estadstica e Informtica
MINAG
Produce.gob.pe
Radio Programas del Peru
Trade Press
Amrica Economa
Andina
Avance Econmico
Correo
El Comercio
El Peruano
Expreso
Gestion
La Repblica
Semana Econmica
Source:
17

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