Dominican Republic: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in the Dominican Republic

In 2022, after three years of decline, there was significant growth in the Dominican market for spirits, liqueurs and other spirituous beverages, when its value increased by 52% to $X. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Spirits, Liqueurs And Other Spirituous Beverages in the Dominican Republic

In value terms, production of spirits, liqueurs and other spirituous beverages reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 30%. Production of peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from the Dominican Republic

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages decreased by -41.7% to X litres for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 126% against the previous year. The exports peaked at X litres in 2021, and then contracted significantly in the following year.

In value terms, exports of spirits, liqueurs and other spirituous beverages contracted sharply to $X in 2022. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 151%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from the Dominican Republic, accounting for a 73% share of total exports. Moreover, exports of spirits, liqueurs and other spirituous beverages to the United States exceeded the volume sent to the second major destination, Colombia (X litres), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +51.6%.

In value terms, Colombia ($X) and the United States ($X) appeared to be the largest markets for spirits, liqueurs and other spirituous beverages exported from the Dominican Republic worldwide.

Colombia, with a CAGR of +65.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average export price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, picking up by 34% against the previous year. In general, the export price, however, saw a noticeable reduction. Over the period under review, the average export prices attained the maximum at $X per litre in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per litre), while the average price for exports to the United States stood at $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into the Dominican Republic

Imports of spirits, liqueurs and other spirituous beverages into the Dominican Republic skyrocketed to X litres in 2022, rising by 64% against 2021 figures. In general, imports recorded prominent growth. The pace of growth was the most pronounced in 2021 when imports increased by 106%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of spirits, liqueurs and other spirituous beverages soared to $X in 2022. Over the period under review, imports posted strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 133% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Italy (X litres) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to the Dominican Republic, with a 48% share of total imports. Moreover, imports of spirits, liqueurs and other spirituous beverages from Italy exceeded the figures recorded by the second-largest supplier, Mexico (X litres), twofold. Spain (X litres) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+27.9% per year) and Spain (+26.5% per year).

In value terms, the largest spirits, liqueurs and other spirituous beverages suppliers to the Dominican Republic were Mexico ($X), Italy ($X) and France ($X), together comprising 67% of total imports. Latvia, the United States, Ireland, Spain, Sweden, the UK and Russia lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Latvia, with a CAGR of +66.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, picking up by 1.8% against the previous year. Overall, the import price, however, showed a slight slump. The pace of growth was the most pronounced in 2021 an increase of 13% against the previous year. Over the period under review, average import prices attained the peak figure at $X per litre in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for Italy ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform