South America: where can spirits find success?

But the region has its challenges, some reflective of global factors, others specific to local considerations.

A report this year from IWSR listed Brazil among the developing markets expected to contribute towards value growth over the next decade, alongside India, Mexico and South Africa. Mordor Intelligence, meanwhile, forecasts that spirits in South America will expand at a compound annual growth rate (CAGR) of 5.48% to the end of 2030. The latter’s report attributes this to factors such as the expansion of cocktail culture, premiumisation trends, and brand positioning targeting aspirational consumers.

“Whisky has always been a strong category in South America, followed by vodka and rum, as these are easy to mix in cocktails, which are popular at the moment,” says Veronica Huber, founder of Huber Brands, which represents producers throughout the Americas. “In general, requests for premium and craft alcohol products are on the rise.”