Spirits are distilled alcoholic beverages mainly manufactured by completing all the distillation processes. After removing all the impurities, the mixture is decontaminated in order toenhance the percentage of alcohol content. In different regions, spirits are also known as liquors or hard liquors to differentiate between distilled or non-distilled beverages. However, beer, wine and cider due to their less alcohol content are not counted as spirits. In the beverages industry, distinguitions of distilled spirits are done in three major groupings which include brown, white and specialties. White spirits include gin, vodka, rum, and tequila. Brown spirits only include whiskies. Specialties consist of liqueurs, brandies, cordials and many other spiritous beverages. Brown, white and specialty spirits including vodkas, whiskies and others are often manufactured by fermentation and distillation of grains such as wheat, corn, barley, rye, and few others. However beside this, spirits are also procured from bases of plants, fruits, tubers and roots. For example, brandies are obtained from grapes, rums are extracted from sugarcane based materials and sugarcane, vodka from potatoes, tequila from Mexican blue agave plant and so on and so forth. Whiskeys and brandies are considered as aged distilled spirits where the aging is executed in oak barrels which impart color and adds aromas and flavor to the liquors. The production of spirits consists of two vital processing steps, one is fermentation and the other one is distillation. In the fermentation process, the organic substance for instance grain mash is transformed to alcohol. Whereas, in the distillation process the fermented beverage is strengthened and purified by means of condensation, boiling and collection. Increasing disposable income of ordinary people is the prime factor augmenting the growth of spirits market in the Latin-America region.
Increasing consumption of spirits in countries like Brazil, Argentina and Chile is assumed to fuel the Latin-America market in future. Moreover, increasing disposable income of people is further expected to make the market more demanding in the coming years. In Brazil, majority of spirits are sold off-trade which creates a huge demand of spirits in this area. Further down, large number of specialty outlets or independent stores present in this region also provides a positive impact on this market. In addition to this innovative advertisement by leading companies to attract customers also drives the market growth in this region. In recent days, spirits signify a status symbol and therefore, rising income of people makes them ready to pay for class brands. Moreover, present young generation becoming more attracted to whiskeys and vodka further fosters the Latin-America consumable spirits market over the next eight years.
The Latin-America consumable spirits market in report is segmented by type which includes gin, vodka, brandy, whiskey, rum, tequila, natural spirits and flavored spirits. Moreover, on the basis of distribution the market has been segmented as liquor specialty stores, hypermarket or supermarket, duty free, online retailing, and others.The Latin-America consumable spirits market has been moreover segmented by country wise which includes Brazil, Argentina, Chile, Peru and Rest of Latin-America.
However, strict government regulations may affect the growth of Latin-America consumable spirits market to some extent. Further down, ban on consuming alcoholic drinks in public places is also expected to hinder the market growth of consumable spirits in the Latin-America region.
Some of the major players in the Latin-America consumable spirits market include Bacardi Limited, Diageo Plc, Belvedere SA, Pernod-Ricard S.A. and few others likely to be named.
Latin-America Consumable Spirits Market: By Type
Latin-America Consumable Spirits Market: By Distribution
Latin-America Consumable Spirits Market: By Country