Information on the target
San Luis bottled water has emerged as the primary growth driver for Arca Continental, the Coca-Cola bottler in Peru, during the fourth quarter of 2025. The brand's advancement reflects the dynamism of the bottled water market in the country. Notably, the volume of sales in Peru grew by 3% during this period, primarily driven by the categories of water and soft drinks. Within the portfolio, the water category advanced by 10%, while San Luis recorded a remarkable 21% growth in volume, becoming the fastest-growing beverage within the company's Peruvian operations.
This surge in performance allowed the Peruvian market to achieve its highest volume since Arca Continental acquired Coca-Cola's operations in the country in 2015. However, this rebound in the last quarter followed a mixed performance throughout 2025, where total sales volume for Arca Continental in Peru fell by 1.5% during the first half of the year due to a less dynamic traditional channel and a more challenging economic environment. Nevertheless, the second quarter showed signs of recovery, with a 2% growth in volume, excluding large containers.
Industry overview in the target’s specific country
The bottled water market in Peru is experiencing significant growth, with projections indicating that the category could reach approximately S/ 1,640 million in 2025, representing a nearly 9% increase compared to 2023. The retail channel, which includes supermarkets and convenience stores, is expected to approach 800 million liters in 2025, marking about a 10% increase from 2024. This growth is largely attributed to the rising demand for flavored waters, driven by consumers seeking flavorful yet calorie-free beverage options.
San Luis has successfully capitalized on this trend, with its flavored water line doubling production annually since 2022. In 2023, demand exceeded forecasts, leading to a three-month stockout of San Luis apple-flavored water. The segment has ample room for growth, as younger generations increasingly prefer beverages that combine taste with a lack of calories. Despite San Luis's growth, the Peruvian bottled water market remains highly competitive, with several players vying for market share.
According to Euromonitor data from 2024, Cielo, owned by Grupo AJE, leads the category with a 36.4% volume share, followed by San Luis at 27%. Other competitors include San Mateo (11.9%), San Carlos (9.1%), and Loa (7.5%). The competitive landscape may intensify in the coming months, particularly following significant deals such as the acquisition of San Mateo bottled water by Grupo Gloria from Backus, which was finalized in November 2025.
Despite recent growth, bottled water consumption in Peru remains relatively low compared to other countries in the region. Euromonitor estimates for 2025 suggest that per capita consumption in Peru will be around 25 liters annually, significantly lowe…