Spirits sales in Brazil are forecast to rise by more than 4% a year in volume terms up to the end of 2028, with growth predicted across all categories.
According to GlobalData, Just Drinks’ parent, volume sales of “flavoured alcoholic beverages” and of vodka are set to rise at the fastest rate in Brazil in the period 2023 to 2028.
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In a new report exploring the dynamics set to shape Brazil’s spirits market, GlobalData forecasts all categories will enjoy volume growth, including the largest segment of “specialty spirits”, which centres on local products such as cachaça.
However, flavoured alcoholic beverages is forecast to be the fastest-growing category in Brazil’s spirits market in volume terms during the period. GlobalData, which includes spirit mixes, pre-mixed cocktails and wine coolers in its definition of flavoured alcoholic beverages, predicts the category will enjoy a CAGR of 8.14%.
Brazil’s vodka market is forecast to see volumes rise at a CAGR of 8.12%, with unflavoured vodka – the largest segment – predicted to grow by 8.3%.
Of the different spirits categories in Brazil analysed by the research group, specialty spirits is forecast to see the slowest growth in volume terms (a CAGR of 2.7%) but the category is the largest in the country.
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By GlobalDataIn 2023, some 577.7 million litres (or 64 million nine-litre cases) of speciality spirits were sold in Brazil, more than four times the volume sales of vodka, the next largest category.
Liqueurs to lead growth in sales value
When measuring sales by value, GlobalData predicts all spirits categories will grow in Brazil during the period from 2023 to 2028.
It also forecasts all categories will enjoy sales value that will rise at a double-digit CAGR rate, bar whisk(e)y, which is still predicted to grow 8.7%.
Speciality spirits, worth 34.9bn reais in 2023, are forecast to generate 71.2bn reais in sales in 2028, a CAGR of 15.4%.
The sales value of flavoured alcoholic beverages and vodka are predicted to grow by 19.8% and 23.3% respectively.
GlobalData forecasts the fastest-growing spirits category in Brazil by 2028 will have been liqueurs. Worth 12bn reais in 2023, the company predicts some 43.4bn reais of liqueurs will be sold in Brazil in 2028, representing a CAGR of more than 29%.
