Latin America and the Caribbean: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Latin America and the Caribbean

The Latin American spirits and liqueurs market was estimated at $X in 2022, rising by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Spirits And Liqueurs Production in Latin America and the Caribbean

In value terms, spirits and liqueurs production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The level of production peaked in 2022 and is likely to continue growth in the immediate term.

Spirits And Liqueurs Exports

Exports in Latin America and the Caribbean

In 2022, approx. X litres of spirits, liqueurs and other spirituous beverages were exported in Latin America and the Caribbean; surging by X% on 2021. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of export peaked at X litres in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, spirits and liqueurs exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, finishing at X litres, which was approx. X% of total exports in 2022. The Dominican Republic (X litres) took the second position in the ranking, followed by Cuba (X litres) and Brazil (X litres). All these countries together took approx. X% share of total exports. The following exporters - Guatemala (X litres), Venezuela (X litres), Nicaragua (X litres), Costa Rica (X litres), Guyana (X litres), Jamaica (X litres) and Barbados (X litres) - together made up X% of total exports.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Venezuela (X%), Guatemala (X%), Nicaragua (X%), Brazil (X%), the Dominican Republic (X%), Cuba (X%) and Costa Rica (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Guyana and Barbados experienced a relatively flat trend pattern. By contrast, Jamaica (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Guyana and Barbados increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest spirits and liqueurs supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Venezuela ($X), with a X% share of total exports. It was followed by Cuba, with a X% share.

In Mexico, spirits and liqueurs exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Venezuela (X% per year) and Cuba (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per litre in 2022, jumping by X% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per litre), while Costa Rica ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (X%), while the other leaders experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports in Latin America and the Caribbean

In 2022, spirits and liqueurs imports in Latin America and the Caribbean expanded sharply to X litres, growing by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, spirits and liqueurs imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Brazil (X litres), followed by Mexico (X litres), Colombia (X litres), Chile (X litres), the Dominican Republic (X litres) and Peru (X litres) represented the major importers of spirits, liqueurs and other spirituous beverages, together creating X% of total imports. The following importers - El Salvador (X litres), Costa Rica (X litres), Argentina (X litres), Paraguay (X litres), Ecuador (X litres), Haiti (X litres) and Panama (X litres) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Peru (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spirits and liqueurs importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and the Dominican Republic ($X), with a combined X% share of total imports. Chile, Colombia, Peru, Argentina, Paraguay, Costa Rica, Ecuador, El Salvador, Panama and Haiti lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Ecuador, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per litre, growing by X% against the previous year. Over the period under review, the import price, however, recorded a noticeable contraction. The level of import peaked at $X per litre in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per litre), while Haiti ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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