Latin America and the Caribbean: Beer Market 2024

Beer Market Size in Latin America and the Caribbean

The Latin American beer market shrank modestly to $X in 2022, falling by -3.3% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the market value increased by 9% against the previous year. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Beer Production in Latin America and the Caribbean

In value terms, beer production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 6.6% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Beer Exports

Exports in Latin America and the Caribbean

In 2022, the amount of beer exported in Latin America and the Caribbean expanded significantly to X tons, surging by 5.2% compared with 2021 figures. Total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, beer exports reached $X in 2022. In general, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 33%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Mexico prevails in exports structure, accounting for X tons, which was near 91% of total exports in 2022. It was distantly followed by Brazil (X tons), creating a 4.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to beer exports from Mexico stood at +5.3%. At the same time, Brazil (+7.3%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +7.3% from 2012-2022. While the share of Mexico (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest beer supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Brazil ($X), with a 2.1% share of total exports.

In Mexico, beer exports expanded at an average annual rate of +10.0% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 3% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beer export price increased by +43.3% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 39%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.4%).

Beer Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of beer were imported in Latin America and the Caribbean; which is down by -15.1% on 2021 figures. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 37%. As a result, imports attained the peak of X tons, and then fell significantly in the following year.

In value terms, beer imports contracted to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 48%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

The countries with the highest levels of beer imports in 2022 were Paraguay (X tons), Chile (X tons), Guatemala (X tons), Panama (X tons), Honduras (X tons), the Dominican Republic (X tons), Argentina (X tons), Cuba (X tons), Uruguay (X tons), El Salvador (X tons), Colombia (X tons) and Costa Rica (X tons), together recording 83% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cuba (with a CAGR of +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Paraguay ($X) and Panama ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 44% of total imports.

Panama, with a CAGR of +36.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 8.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 an increase of 13%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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