Boston, MA -- (ReleaseWire) -- 06/23/2014 -- The limited purchasing power of Spanish consumers due to the recession, alongside high unemployment, continued to impact consumer behaviour within the other hot drinks category. Consumers tried to be cautious with their budgets and sought to reduce unnecessary spending, particularly in terms of leisure and away-from-home activities, including foodservice visits to bars and restaurants. This strongly impacted on-trade performance, with sales at breakfast time suffering in particular, as this is when most hot drinks are consumed in Spain. Nevertheless, this benefited grocery retailers, which saw a sales increase in 2013 due to the shift in consumption into consumers' homes.
Nutrexpa once again led other hot drinks in 2013, with an off-trade value share of 51%. The leadership of the national brand Cola Cao within the category is attributed to the dominance of Nutrexpa within chocolate-based flavoured powder drinks, where it held an off-trade value share of 56%; it is present with its brands Cola Cao, Cola Cao Pepitas (with small chocolate chips), Cola Cao Turbo, Cola Cao 0%, Cola Cao Fibra and Cola Cao 0% Fibra. This branded player has resisted the onslaught of private label within the category, losing only marginal share since the onset of the recession in 2008. Its products benefit from a distinctive flavour and the foam it forms with the cocoa powder on top of the drink is considered to be difficult to emulate by other brands or private label. Cola Cao is well established among Spanish consumers, who demonstrate considerable loyalty to the brand; it is considered to be synonymous with the category of chocolate-based flavoured powder drinks.
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The other hot drinks category is expected to post a CAGR of 1% in volume terms, while sales are set to rise at a CAGR of 2% in constant 2013 prices over the forecast period. While the economy starts to show some macroeconomic signs of recovery, these will remain unnoticed by consumers until around halfway through the forecast period. This situation will benefit off-trade sales, due to continued consumption at home, but will contribute to a decline in the on-trade channel, which is expected to post an annual volume decline of 1% over the forecast period.
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