(Image: Companiha Muller De Bebidas)

(Image: Companiha Muller De Bebidas)

Brazil: Spirits Market Shows Strong Growth Potential

According to a new report from GlobalData Brazil’s spirits industry is projected to grow in value by 18.2%, increasing from €17 billion in 2023 to €39 billion in 2028. With this growth, Brazil is emerging as a high-potential market for spirits brands in Latin America.

In 2023, the leading companies driving sales volumes in Brazil were Companhia Muller De Bebidas, Diageo, and Engarrafamento Pitu. The report indicates that Companhia Muller De Bebidas held a 10.8% volume share, followed by Diageo at 10.6% and Engarrafamento Pitu at 8.2%.

The dominant spirits category in Brazil was soft drinks, accounting for 40.1% of the category’s value, followed by vodka at 15.6% and liqueurs at 13.8%. Specialty spirits also held the largest share in volume terms, making up around 60% of consumption in nine of Brazil’s top spirits-drinking cities, including São Paulo, Rio de Janeiro, and Belo Horizonte.

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