Latin America Liquor Market Report and Forecast 2024-2032

Latin America Liquor Market Size

The Latin America liquor market is projected to grow at a CAGR of 2.7% between 2024 and 2032. Aided by the growth of the drinking culture, the market is expected to witness significant growth in the forecast period.

Latin America Liquor Market Outlook

• Brandy is expected to constitute a major portion of the liquor market share in Latin America.

• Brazil and Mexico are expected to remain the leading regions for liquor consumption over the forecast period.

• Rising popularity of salty flavours is expected to contribute to the market growth.

Latin America Liquor Market Growth

Sweet and savoury flavours of alcohol are witnessing a surge in popularity among consumers. As health consciousness becomes a key motivating factor for consumers to check their alcohol consumption, the demand for low-alcohol options is expected to witness a significant surge over the forecast period. Besides, major market players are focusing on manufacturing alcoholic beverages, which subvert category norms and enjoy high appeal among both experienced and inexperienced drinkers.

On-trade consumption of liquor and spirits is expected to increase significantly as the demand for high-strength serves prepared by experienced bartenders soars. Salty flavours in whiskeys and rums are expected to garner widespread consumer appeal, thereby driving the demand for unique liquors.

The launch of innovative cocktail flavours in packaged formats is driving consumer demand for liquor. This is because the incorporation of natural ingredients into liquors boosts their health profile among mindful consumers and facilitates off-trade consumption. Premium canned drinks containing a lower number of calories are becoming increasingly popular among consumers as they facilitate weight loss while delivering familiar notes of flavour, which enhances consumer satisfaction.

Latin America Liquor Industry Segmentation

Latin America Liquor Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Tequila

• Whiskey

• Vodka

• Rum

• Brandy

• Gin

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Speciality Stores

• Convenience Stores

• Online

• Others

Market Breakup by Country

• Brazil

• Mexico

• Argentina

• Colombia

• Chile

• Peru

• Bolivia

• Uruguay

• Paraguay

• Guatemala

• Panama

• Others

Latin America Liquor Market Share

Based on distribution channel, the market is divided into supermarkets and hypermarkets, speciality stores, convenience stores, and online, among others. Rising smartphone penetration and internet accessibility rates are expected to drive the growth of online distribution channels for purchasing liquors. This can also boost consumer’s access to a wide variety of liquors from different regions.

Leading Companies in the Latin America Liquor Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.

• Diageo Plc (Casamigos)

• Bacardi Limited

• Beam Suntory Inc.

• Pernod Ricard S.A.

• Constellation Brands, Inc.

• Proximo Spirits, Inc.

• Dictador

• Industria Licorera de Caldas

• Hotaling & Co.

• Pisco Capurro

• Cartavio Rum Company

• Others

Major market players are enhancing their presence in key regions like Brazil and Mexico to drive sales and enhance their revenue growth.

Key Highlights of the Report