Argentina Craft Spirits Market Size & Outlook, 2023-2030
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Argentina craft spirits market highlights
- The Argentina craft spirits market generated a revenue of USD 104.4 million in 2023 and is expected to reach USD 493.6 million by 2030.
- The Argentina market is expected to grow at a CAGR of 24.8% from 2024 to 2030.
- In terms of segment, whiskey was the largest revenue generating product in 2023.
- Gin is the most lucrative product segment registering the fastest growth during the forecast period.
Craft spirits market data book summary
| Market revenue in 2023 | USD 104.4 million |
| Market revenue in 2030 | USD 493.6 million |
| Growth rate | 24.8% (CAGR from 2023 to 2030) |
| Largest segment | Whiskey |
| Fastest growing segment | Gin |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Whiskey, Vodka, Gin, Rum, Brandy, Liquer |
| Key market players worldwide | Diageo PLC, Pernod Ricard SA, Constellation Brands Inc Class A, Suntory Beverage & Food Ltd, Bacardi, Heaven Hill Distilleries, Campari Group, Sazerac Company, Highwood Distillers, Rogue Ales |
Other key industry trends
- In terms of revenue, Argentina accounted for 0.5% of the global craft spirits market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil craft spirits market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 1,131.6 million by 2030.
Whiskey was the largest segment with a revenue share of 44.92% in 2023. Horizon Databook has segmented the Argentina craft spirits market based on whiskey, vodka, gin, rum, brandy, liquer covering the revenue growth of each sub-segment from 2017 to 2030.
The rising demand for craft spirits among millennials and generation Z, increased footfall and demand in pubs and restaurants, and increased preference for premium alcoholic drinks are all likely to boost revenue in the global craft spirits market in the future. The consumption of high-end alcoholic beverages is currently associated with affluence, which is another factor driving market expansion in the region.
Moreover, according to the World Health Organization, Argentina's total alcohol per capita consumption is 14.6 liters in 2019. In comparison to the WHO Americas regional average, the country has a high consumption rate. The demand for handmade spirits in the region will increase as alcohol consumption rises.
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Craft Spirits Market Scope
Craft Spirits Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Rogue Ales | View profile | - | Portland, Oregon, United States, North America | https://www.rogue.com/ |
| Highwood Distillers | View profile | 11-50 | Calgary, Alberta, Canada, North America | https://www.highwood-distillers.com |
| Campari Group | View profile | 1001-5000 | Sesto San Giovanni, Lombardia, Italy, Europe | https://www.camparigroup.com |
| Sazerac Company | View profile | 1001-5000 | Metairie, Louisiana, United States, North America | https://www.sazerac.com/ |
| Heaven Hill Distilleries | View profile | 501-1000 | Bardstown, Kentucky, United States, North America | http://www.heavenhill.com/ |
| Bacardi | View profile | 5001-10000 | Hamilton, Hamilton, Bermuda, North America | https://www.bacardilimited.com/ |
| Constellation Brands Inc Class A | View profile | 10600 | 207 High Point Drive, Building 100, Victor, New York, NY, United States, 14564 | https://www.cbrands.com |
| Diageo PLC | View profile | 30269 | 16 Great Marlborough Street, London, United Kingdom, W1F 7HS | https://www.diageo.com |
| Pernod Ricard SA | View profile | 20617 | 5, Cours Paul Ricard, Paris, France, 75008 | https://www.pernod-ricard.com |
| Suntory Beverage & Food Ltd | View profile | 24641 | 3-1-1 Kyobashi, Tokyo Square Garden, Chuo-ku, Tokyo, Japan, 104-0031 | http://www.suntory.co.jp |
Argentina craft spirits market size, by product, 2017-2030 (US$M)
Argentina Craft Spirits Market Outlook Share, 2023 & 2030 (US$M)
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