South America Beer Market Size

South America Beer Market Analysis

The South America Beer market is projected to register a CAGR of 3.5% during the forecast period. (2022-2027)

South American country Brazil is one of the leading beer-consuming countries in the world. Consumers in the market prefer the Pilsen type of lager beer among other beer types available in the region. This is mainly due to the emergence of numerous microbreweries in the region where craft beer and draught beer are extensively retailed in the local beer markets. Additionally, the presence of numerous brands in the market facilitates the consumers to access beer products easily thus resulting in propelled sales of beer products in the market.

The demand for premium beer products in the market had been witnessing a surge in demand as consumers in the market are preferring premium products as the products are either sourced organically or made of handpicked ingredients which makes them more expensive than their counterparts present in the market. The increasing purchasing power of the consumers with increasing incomes encourages the consumers in the market to choose expensive products available in the market.Owing to the demand manufacturers in the market are introducing new products to attract the consumers in the market. For instance, in November 2021, Diageo launched its new Irish beer premium beer product in Argentina. The Irish Guinnes beer products are available in two different flavors like Guinness Extra Stout, the classic.

With the outbreak of COVID-19 19, the overall demand for beer has decreased with a sudden shutdown of public gatherings and retailing of beers. This resulted in a decrease in imports and retailing of beers across the region. For instance, as the er Comtradeade, the imported value of beer into South American countries decreased in 2020 to USD 0.8 billion from USD 1.13 billion in 2018. post covid 19 the market has witnessed rapid growth to reaup topto USD 1.15 billion in 2021.