The Latin America Whiskey Market was worth USD 0.49 Billion in 2022 and estimated to be growing at a CAGR of 4.9%, to reach USD 0.62 Billion by 2028. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the industry.
Whiskey comes under the category of affordable luxury items, resulting in many whiskey producing companies to launch more premium and super premium whiskies in the market. As an innovation, the brewing sector is launching an organic whiskey which does not have any artificial colours.
The Latin America whiskey market is majorly driven by the recent change in lifestyles, increasing habit of consuming liquor, growing disposable income, and rising affordability of whiskey. However, some of the restraints hamper the growth of the industry, like heavy taxes, strict regulations by the governments, and health hazards associated with whiskey consumption.
The Latin America Whiskey Market is segmented on the basis of Product into Malt Whisky, Wheat Whisky, Rye Whisky, Corn Whisky, Blended Whisky, and Others. Based in Premium, the market is segmented into Premium, High End Premium, and Super Premium.
Geographically the Latin America Whiskey Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Developing countries like Brazil and Mexico are expected to register a high growth rate in the Latin America Whiskey Market.
Key Players in the Market:
Major Key Players in the Latin America Whiskey Market are
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