LAMEA distilled spirits market is estimated to grow at a CAGR of 3.5% during the forecast period. In 2018, the market in LAMEA was valued at $46.1 billion and is further estimated to reach $58.1 billion in 2025. The factors contributing to the market growth include increasing demand for alcoholic beverages in emerging economies such as Brazil and South Africa due to their growing population base and increasing consumption of alcohol by the young generation. The changing social norms and the growing acceptability of alcohol have led to high and regular alcohol consumption among people in the region.
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The distilled spirits market in Latin America and the Middle East & Africa are expected to have a major market share during the forecast period. Major economies contributing to the LAMEA market growth are Brazil, Argentina, Turkey, South Africa and so on. The two most prominent factors for the market growth in these regions include the increase in disposable income coupled with the rise in the economy. In Brazil, alcohol is the most widely used psychotropic substance among adults. Brazil has the largest population in Latin America and has experienced considerable economic growth in the past decade. The country has around 209 million population in 2018 and more than 77% of the population is above 15 years.
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Market Segmentation
LAMEA Distilled Spirits Market by Type
- Whiskey
- Vodka
- Rum
- Gin
- Tequila
- Brandy
- Others
LAMEA Distilled Spirits Market by Distribution Channel
- Online
- Offline
Regional Analysis
- Brazil
- Argentina
- UAE
- South Africa
- Nigeria
- Rest of LAMEA
Company Profiles
- Anheuser-Busch InBev
- Asahi Group Holdings, Ltd.
- Carlsberg Breweries A/S
- Constellation Brands Inc.
- Diageo PLC
- Heineken Holding N.V.
- Kirin Holdings Co. Ltd.
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