Latin America Spirits Market 2025

The market for spirits is set for moderate growth, with projections indicating an increase of USD 21.0 billion and a CAGR nearing 7.4% over the forecast period. Latin America’s spirits market is seeing strong growth due to a combination of cultural factors and a growing young, urban population. In countries like Brazil, Mexico, and Argentina, spirits, particularly rum, tequila, and whisky, are entrenched in local traditions, driving consistent demand. The rise of craft spirits and premium offerings is fueling the segment’s growth, as consumers in urban centers seek out higher-quality options. Furthermore, the younger demographic’s growing interest in cocktails and mixology is influencing the popularity of spirits, particularly among millennials and Gen Z consumers. Alcohol consumption in Latin America is also being driven by a growing nightlife culture and a continued appreciation for traditional drinks like aguardiente, cachaça, and mezcal.

This report delivers a deep dive into the Latin America spirits market, combining historical performance data from 2020 to 2024 with forward-looking projections through 2030. It uncovers critical insights into market size, growth rates, and key trends, providing a clear view of the industry’s evolution. By breaking down the market across product type, distribution channel and country, the report identifies actionable opportunities for stakeholders to drive growth and outperform competitors.

Market Segmentation

The segmentation of the Latin America spirits market is outlined below:
Product type: brandy and cognac, liqueurs, non-alcoholic spirits, rum, tequila and mezcal, whiskies, white spirits, others
Distribution channel: convenience stores, forecourt, supermarkets and hypermarkets, discounters, warehouse clubs, food and drinks stores, grocery stores, bars and HoReCa, e-commerce, others
Country: Argentina, Brazil, Chile, Colombia, Mexico, others

The spirits market in the Latin America is segmented by product type, distribution channel and country. In terms of product type, the market is segmented into brandy and cognac, liqueurs, non-alcoholic spirits, rum, tequila and mezcal, whiskies, white spirits, and others. Distribution channel segmentation includes convenience stores, forecourt, supermarkets and hypermarkets, discounters, warehouse clubs, food and drinks stores, grocery stores, bars and HoReCa, e-commerce, and others. Geographically, the market is segmented into Argentina, Brazil, Chile, Colombia, Mexico and others.

Competitive Landscape

The market features leading players such as William Grant & Sons Ltd., The Edrington Group Limited, Tequila Supremo S.A. de C.V., Tequila Centinela S.A. de C.V., Suntory Holdings Limited, Pernod Ricard Group, Miguel Torres S.A., Mast-Jagermeister SE, Industrias Reunidas de Bebidas Tatuzinho 3 Fazendas Ltda., Industrias Licoreras de Guatemala, Industria Licorera de Caldas, Industria de Bebidas Paris Ltda, Fratelli Branca Distillerie Srl, Fabrica de Licores y Alcoholes de Antioquia, Engarrafamento Pitu Ltda, Diageo plc, Destilerias Unidas S.A., Davide Campari-Milano S.p.A., Cooperativa Agricola Pisquera Elqui Limitada (CAPEL), Compania Cervecerias Unidas S.A., Companhia Muller de Bebidas Ltda, Brown-Forman Corporation, Bodega Las Copas S.L., Becle S.A.B. de C.V. and Bacardi Limited.

This report presents an extensive analysis of major entities in the spirits market, focusing on their performance from 2020 to 2024. Findings showcase changes in market share, recognizing both long-standing leaders and new challengers.

Why Buy This Report?

Obtain precise statistical data and forecasts for the Latin America spirits market.
Gain in-depth analysis and forecasts for the key segments of the Latin America spirits market: product type, distribution channel and country.
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Gain deep insights into the dynamics of the Latin America spirits market.
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Anticipate the future trajectory of the Latin America spirits market with informed projections.
Assess the competitive landscape to determine the ideal timing for capitalizing on market opportunities.
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Table of Contents

TABLE OF CONTENTS
Key Findings
Market Segmentation
Market Overview
Latin America Spirits Market – Product Type Analysis
Latin America Spirits Market – Distribution Channel Analysis
Latin America Spirits Market – Country Analysis
Company Shares Analysis
William Grant & Sons Ltd.
The Edrington Group Limited
Tequila Supremo, S.A. de C.V.
Tequila Centinela, S.A. de C.V.
Suntory Holdings Limited
Pernod Ricard Group
Miguel Torres S.A.
Mast-Jagermeister SE
Industrias Reunidas de Bebidas Tatuzinho 3 Fazendas Ltda.
…
Macroeconomic Data and Forecast
Research Methodology
Disclaimer

FIGURES AND TABLES
Table Latin America Spirits Market 2020-2030
Chart Latin America Spirits Market, Net Growth, 2020-2030
Chart Latin America Spirits Market, Growth Rates, 2020-2030
Table Latin America Spirits Market by Product Type, 2020-2030
Chart Latin America Spirits Market by Product Type, CAGR Historic and Forecast, 2020-2030
Chart Latin America Spirits Market by Product Type, 2020-2030
Table Latin America Spirits Market by Distribution Channel, 2020-2030
Chart Latin America Spirits Market by Distribution Channel, CAGR Historic and Forecast, 2020-2030
Chart Latin America Spirits Market by Distribution Channel, 2020-2030
Table Latin America Spirits Market by Country, 2020-2030
Chart Latin America Spirits Market by Country, CAGR Historic and Forecast, 2020-2030
Chart Latin America Spirits Market by Country, 2020-2030
Table Latin America Spirits Market Share (%), by Companies, 2020-2024
Chart Latin America Spirits Market, by Companies, 2024
Table Latin America Spirits Market Share (%), by Brands, 2020-2024
Chart Latin America Spirits Market, by Brands, 2024
Table Latin America – Population (Millions) and Forecast
Table Latin America – Consumer Price Index (CPI) and Forecast
Table Latin America – Gross Domestic Product and Forecast
Table Latin America Spirits Market: Spend as a Proportion of GDP (%)
Table Latin America Spirits Market: Consumption per Capita (Population)

Companies Mentioned

William Grant & Sons Ltd.
The Edrington Group Limited
Tequila Supremo, S.A. de C.V.
Tequila Centinela, S.A. de C.V.
Suntory Holdings Limited
Pernod Ricard Group
Miguel Torres S.A.
Mast-Jagermeister SE
Industrias Reunidas de Bebidas Tatuzinho 3 Fazendas Ltda.
Industrias Licoreras de Guatemala
Industria Licorera de Caldas
Industria de Bebidas Paris Ltda
Fratelli Branca Distillerie Srl
Fabrica de Licores y Alcoholes de Antioquia
Engarrafamento Pitu Ltda
Diageo plc
Destilerias Unidas S.A.
Davide Campari-Milano S.p.A.
Cooperativa Agricola Pisquera Elqui Limitada (CAPEL)
Compania Cervecerias Unidas S.A.
Companhia Muller de Bebidas Ltda
Brown-Forman Corporation
Bodega Las Copas S.L.
Becle, S.A.B. de C.V.
Bacardi Limited