Wine in Mexico

PROSPECTS

Premiumisation is set to drive further growth

Over the forecast period, wine is expected to maintain dynamic growth, as consumers become increasingly curious and knowledgeable about the wine offer. More consumers are likely to develop a more sophisticated palate regarding wine, and recognise the brands and types of wine they like.

Sparkling wine will maintain a good performance

Sparkling wine saw a dynamic performance over the review period, which is expected to continue. Sales are likely to be driven by the entry of more brands to the market, offering a wider variety of products at different price points.

Economic and political issues might become challenges

In 2018, imported wines accounted for most volume sales of wine in the country. This means that prices are closely related to exchange rates, which are subject to economic performances.

COMPETITIVE LANDSCAPE

Premium and craft beer compete with wine

Although wine has maintained its dynamic growth, it increasingly competes with other types of beverages, such as beer, as they have similar consumption occasions. Both beer and wine are perceived as lighter alcoholic beverages when compared with spirits, and consumers choose them daily for lunch or dinner.

Mexican wines increase their presence in the market

Mexican wines noticeably increased their presence in retailers over the review period. This was the result of better-organised wine producers, and an increase in demand from consumers, who are increasingly aware of local brands.

The expansion of specialist retailers is set to boost sales

The number of specialist retailers is expected to increase over the forecast period, which will favour sales of wine. Specialist retailers have a wide offer of brands and types of wine at different prices, which encourages consumers to try new brands and flavours.

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