Latin America Premium Spirit Market Size & Outlook
Latin America premium spirit market, 2018-2030 (US$M)
Related Markets
Latin America premium spirit market highlights
- The Latin America premium spirit market generated a revenue of USD 9,610.8 million in 2019.
- The market is expected to grow at a CAGR of 9.6% from 2020 to 2027.
- In terms of segment, vodka was the largest revenue generating product in 2019.
- Tequila is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2020 to 2027.
Latin America data book summary
| Market revenue in 2019 | USD 9,610.8 million |
| Market revenue in 2027 | USD 19,990.5 million |
| Growth rate | 9.6% (CAGR from 2019 to 2027) |
| Largest segment | Vodka |
| Fastest growing segment | Tequila |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vodka, Whisky, Gin, Tequila, Rum, Brandy |
| Key market players worldwide | Diageo PLC, Pernod Ricard SA, Brown-Forman Corp Registered Shs -B- Non Vtg, Bacardi, LT Group Inc, Alliance Global Group Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.9% of the global premium spirit market in 2019.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 97,925.2 million by 2027.
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Premium Spirit Market Scope
Premium Spirit Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America premium spirit market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to premium spirit market will help companies and investors design strategic landscapes.
Vodka was the largest segment with a revenue share of 30.06% in 2023. Horizon Databook has segmented the Latin America premium spirit market based on vodka, whisky, gin, tequila, rum, brandy covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for premium spirits in Central and South America is driven by a rich heritage and strong brand presence. In this region, iconic Scotch brands like Johnnie Walker, Old Parr, and Buchanan’s dominate the market, demonstrating a longstanding preference for high-quality whiskies.
The local market is also influenced by culturally significant spirits such as Ypioca cachaça in Brazil and Cacique rum in Venezuela, showcasing the importance of traditional beverages alongside international favorites.
The trend towards premiumization is evident as consumers seek unique and luxurious experiences, leading to a diversification of offerings. Brands like Smirnoff have innovated with local variants to cater to the evolving tastes and preferences of the Latin American market.
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Target buyers of Latin America premium spirit market databook
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Our clientele includes a mix of premium spirit market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America premium spirit market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America premium spirit market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America premium spirit market size size, by country, 2018-2030 (US$M)
Latin America Premium Spirit Market Outlook Share, 2023 & 2030 (US$M)
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