Latin America Craft Beer Market

Latin America Craft Beer Market Growth and Forecast (2023 - 2028):

Latin America Craft Beer Market was worth USD 12.51 billion in 2022 and estimated to be growing at a CAGR of 19.1%, to reach USD 30.48 billion by 2028.

Market Overview:

Craft brewery produces small amounts of beer unlike the typical large scale production breweries and is independently owned. It started in United Kingdom in the 1970’s producing craft beers alongside regular beers and it quickly spread to Europe and other parts of the world later. 

Craft beers produced by craft breweries are typically known for the most part described by their accentuation on quality, flavour and brewing techniques. Sellers in this market compete primarily on elements like price, product differentiation, distribution, promotion and quality. 

Drivers and Restraints:

Latin America Craft Beer Market is driven by factors like rising demand for low alcohol by volume drinks and flavoured beers, growing awareness of consumers about various flavours and styles of products, rising disposable income and rising consumption of alcohol. However other factors like high price of craft beers as compared to ordinary beers, their production requiring a lot of clean water and health concerns since they are produced by pressurised tanks with caustic chemicals are some restraints for this market. These factors may act as growth hurdles for the Craft Beer Market in certain regions.

Latin America Craft Beer Market Segmentation Analysis:

The Latin America market for Craft Beer is broadly categorized by style of production into amber ale, amber lager, IPA (Indian pale ale) and others. By segments this industry is segmented into brewpubs, microbreweries, regional craft breweries and contract brewing companies. These breweries differ in the percentage of beer sold off-site. By distribution the market is divided into on-trade and off-trade. Off-trade sales of these beers are on the rise in developing countries since the per capita income is less and price of beers is high compared to on-trade sales.

Region Analysis:

Geographically the Latin America Craft Beer Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Brazil has the largest market share in this region and has the highest growth rate as well which is estimated to be over 40%.

Key Players in the Market:

Major Key Players in the Latin America Craft Beer Market are

• The Boston Beer Company
• The Gambrinus Company
• D.G. Yuengling and Son
• Stone & Wood Brewing Co
• Chimay Beers and Cheeses
• Sierra Nevada Brewing Company
• Lagunitas Brewing Company