Latin America Beer Market Set to Grow at 4% CAGR in 2023-2028, Valued at USD 12.53 Billion in 2021

The Latin America Beer Market is on a trajectory of growth, driven by evolving consumer preferences, premiumization, and innovative product offerings. In 2021, the market achieved a significant value of USD 12.53 billion, reaffirming its importance in the region. Projections suggest that the Latin America Beer Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4% during the period from 2023 to 2028. This press release provides a comprehensive overview of market dynamics, trends, and the key factors shaping this dynamic industry.

Market Overview

Beer is a popular alcoholic beverage enjoyed by people across Latin America, and the market continues to thrive with evolving consumer tastes and preferences. The Latin America Beer Market encompasses the production, distribution, and consumption of various beer brands, including a wide array of flavors, styles, and types.

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Key Market Insights

  • Market Valuation (2021): In 2021, the Latin America Beer Market was valued at USD 12.53 billion, reflecting its substantial presence in the region.
  • Projected Growth (2023-2028): The market is poised for continuous expansion, with an estimated CAGR of 4% from 2023 to 2028. This growth is primarily attributed to the premiumization of beer and the introduction of innovative flavors.
  • Diverse Beer Offerings: Latin America boasts a diverse range of beer offerings, from traditional brews to craft beers and flavored options.
  • Evolving Consumer Preferences: Changing consumer preferences for unique, locally-inspired, and premium beer experiences drive innovation in the market.

Market Drivers

Several factors contribute to the growth of the Latin America Beer Market:

  • Premiumization Trend: The demand for premium and craft beers, often accompanied by higher price points, is on the rise as consumers seek unique and quality beer experiences.
  • Flavor Innovation: The introduction of new flavors and styles of beer, often inspired by local ingredients and traditions, is driving consumer interest.
  • Local Craft Beer Production: The growth of the craft beer industry in Latin America is contributing to market expansion, offering a wide range of unique and artisanal brews.
  • Rising Disposable Income: The increase in disposable income in certain Latin American countries is supporting consumer willingness to explore premium beer offerings.

Competitive Landscape

The Latin America Beer Market is characterized by a competitive landscape with numerous key players and breweries actively contributing to the industry. Leading breweries in the market include:

  • Ambev – A major brewing company in Latin America, offering a diverse portfolio of beer brands, including Brahma, Antarctica, and Skol.
  • Grupo Modelo (part of AB InBev) – Known for its iconic brand, Corona, and a wide range of beer offerings.
  • Cervecería Cuauhtémoc Moctezuma (part of Heineken) – A subsidiary of Heineken, this brewery produces popular brands such as Dos Equis and Tecate.
  • CCU (Compañía Cervecerías Unidas) – A leading brewery in Chile, offering a wide range of beer brands, including Cristal and Escudo.
  • Backus (part of AB InBev) – A prominent brewery in Peru, offering brands like Cristal, Pilsen, and Cusqueña.

Future Outlook

The Latin America Beer Market is set to continue its remarkable growth and innovation. With the premiumization trend, the introduction of new flavors, and the proliferation of craft breweries, the market is expected to witness further investments, research, and expansion. The projected CAGR of 4% from 2023 to 2028 underscores the market’s potential to cater to a wide range of consumer preferences, offering diverse and distinctive beer experiences.

About Us

Informes de Expertos, the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

Media Contact

Company Name: Informes De Expertos
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Email: [email protected]
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