Alcoholic Drinks in Latin America

Delivery

This report comes in PPT.

Key findings

Strong craft beer trend in Argentina

Local craft beers performed strongly in Argentina in 2022, helped by the continued on-trade recovery, but also multiple new product developments, such as Antares Centinela Roble, a dark amber barley wine beer aged in French oak with a 14% alcohol content, or Base Esperanza, a cold IPA with 6% ABV from Gorilla Brewing and Jabalina Brewery. There are an estimated 800 craft beer breweries with a combined annual output of almost 70 million litres in Argentina.

HW concerns see reduced-calorie and non-alcoholic launches in Mexico

Although inflation remained high in 2022, Brazilian consumers continued to focus on premium products and quality, driving many industry players to expand or invest in their premium portfolios. This saw companies such as AB InBev and Heineken introducing new premium brands such as Beck’s and Tiger in beer, increasing the availability of whiskies, introducing new spirits brands, and importing premium Chilean and Argentinian wine brands.

In spite of inflation, Brazilian consumers are looking for premium products

Health and wellness was an increasing driver of innovation in Mexico, with 2022 launches including Tecate 0.0 beer from Heineken, reduced-calorie Casillero del Diablo Belight wine from VCT & DG México, and Bailey’s Light from Diageo, which boasts 40% fewer calories.

RTDs a beneficiary of a number of new product launches

In most of the major markets across Latin America, healthy growth rates are expected over the forecast period, with the alcoholic drinks industry therefore currently focused on introducing new products, SKUs and brands. More upmarket products, HW-focussed innovations and the expansion of categories like RTDs will therefore continue to loom large in the development of the market in the coming years.