The Latin America Wine Market was worth USD 20.55 billion in 2022 and estimated to be growing at a CAGR of 4.1%, to reach USD 25.12 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.
Wine comes under the category of affordable luxury items, resulting in many Wine producing companies to launch more types of wines in the market.
The Latin America Wine market is majorly driven by the recent change in lifestyles, increasing habit of consuming liquor, growing disposable income, and rising affordability of Wine. However, some of the restraints hamper the growth of the industry, like heavy taxes, strict regulations by the governments, and health hazards associated with Wine consumption.
The Latin America Wine Market is segmented on the basis of taste into dry, medium, and sweet wine. By wine style, wine market can be segmented into still wine, sparkling wine, dessert wine, and fortified wine. The market segment based on colour are red wine, white wine and rose wine.
Geographically the Latin America Wine Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Emerging economies like Brazil and Mexico will show significant growth for Wine market in future years.
Key Players in the Market:
Major Key Players in the Latin America Wine Market are
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