Latin America Alcoholic Beverages Market

Latin America Alcoholic Beverages Market Size (2024 to 2029)

The size of the Latin America alcoholic market is expected to be worth USD 45.53 billion in 2024 and grow at a CAGR of 9.03% from 2024 to 2029 to achieve USD 70.14 billion by 2029. The Latin America Alcoholic Beverages market is developing at an exceptionally quick pace.

An alcoholic drink is a drink which has ethanol, generally known as alcohol. They are legally consumed in various countries, and more than hundred countries have laws regulating their production, sale, and consumption. Manufacturers of alcoholic drinks that are constantly launching new products with added flavors. Curiosity amongst consumers especially among millennial is attracting them to try these products, which is having a positive impact on the alcoholic beverages market.

The significant driver is the growing demand for premium alcoholic beverage. Also change in lifestyles leading to new product launches and innovations in alcoholic drinks, in developed and developing nations is boosting the industry. Benefits like reduction in risk of cardiovascular disease, prevention from cold when consuming alcohol in limited amounts is further expected to boost this industry. Change in climatic conditions leads to the reduction in the yield of the crop, which increases the cost of alcohol is a limiting factor to this industry.  Also increasing government regulation and taxes are proving to be a barrier in the Alcoholic Beverages market.

This research report on the Latin America alcoholic market is segmented and sub-segmented into the following categories

Latin America Alcoholic Beverages Market By Type

• Beer
• Wine
• Distilled Spirits

Beer segment has a major share in Alcoholic Beverages market in 2017 which was around 75%.

Latin America Alcoholic Beverages Market By Distribution Channel

• Convenience Stores
• On Premises
• Retailers
• Supermarkets

Convenience Stores is expected to have highest growth rate.

Latin America Alcoholic Beverages Market By Region

• Brazil
• Mexico
• Argentina
• Chile
• Rest of Latin America

The rising focus of key players on enhancing their market presence across the globe is estimated to encourage the growth of the market in the Latin America regions.

KEY MARKET PLAYERS 

Major Key Players in the Latin America Alcoholic Beverages Market are Molson Coors Brewing Co, Pernod Ricard SA, SABMiller Ltd, United Spirits Ltd, Bacardi Limited, Beam Suntory Inc, Constellation Brands Inc, Diageo, Heineken Holding NV, Accolade Wines Ltd, Asahi Breweries Ltd, Brown-Forman Corp, Carlsberg A/S, and China Resources Beer Company Limite