Latin America and the Caribbean: Market for Cider, Perry, Mead And Other Fermented Beverages 2024

Market Size for Cider, Perry, Mead And Other Fermented Beverages in Latin America and the Caribbean

The Latin American cider, perry and mead market rose notably to $X in 2021, growing by 12% against the previous year. In general, consumption continues to indicate a mild curtailment. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Cider, Perry, Mead And Other Fermented Beverages in Latin America and the Caribbean

In value terms, cider, perry and mead production expanded significantly to $X in 2021 estimated in export price. In general, production showed a slight curtailment. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Cider, Perry, Mead And Other Fermented Beverages

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of cider, perry, mead and other fermented beverages decreased by -41.8% to X litres in 2021. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 674% against the previous year. As a result, the exports attained the peak of X litres, and then reduced sharply in the following year.

In value terms, cider, perry and mead exports contracted rapidly to $X in 2021. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 1,062%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

Mexico prevails in exports structure, reaching X litres, which was near 87% of total exports in 2021. It was distantly followed by Brazil (X litres), making up a 7.1% share of total exports. The following exporters - Trinidad and Tobago (X litres) and Argentina (X litres) - each resulted at a 4.5% share of total exports.

Mexico was also the fastest-growing in terms of the cider, perry, mead and other fermented beverages exports, with a CAGR of +74.9% from 2012 to 2021. At the same time, Trinidad and Tobago (+24.4%) and Brazil (+5.4%) displayed positive paces of growth. By contrast, Argentina (-12.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +83 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest cider, perry and mead supplier in Latin America and the Caribbean, comprising 90% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4.5% share of total exports. It was followed by Trinidad and Tobago, with a 2.5% share.

In Mexico, cider, perry and mead exports expanded at an average annual rate of +80.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+2.2% per year) and Trinidad and Tobago (+29.3% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per litre, surging by 16% against the previous year. Export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cider, perry and mead export price increased by +77.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 50%. Over the period under review, the export prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per litre), while Argentina ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+4.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Cider, Perry, Mead And Other Fermented Beverages

Imports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in supplies from abroad of cider, perry, mead and other fermented beverages, which increased by 21% to X litres in 2021. The total import volume increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, cider, perry and mead imports soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Paraguay (X litres), distantly followed by Trinidad and Tobago (X litres), Haiti (X litres), Colombia (X litres) and the Dominican Republic (X litres) were the major importers of cider, perry, mead and other fermented beverages, together generating 55% of total imports. The following importers - Chile (X litres), Belize (X litres), Cuba (X litres), Costa Rica (X litres), Mexico (X litres), Venezuela (X litres), Saint Lucia (X litres) and Barbados (X litres) - together made up 24% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Belize (with a CAGR of +40.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cider, perry and mead importing markets in Latin America and the Caribbean were Trinidad and Tobago ($X), Paraguay ($X) and Haiti ($X), with a combined 32% share of total imports. Mexico, the Dominican Republic, Colombia, Chile, Costa Rica, Venezuela, Cuba, Belize, Saint Lucia and Barbados lagged somewhat behind, together comprising a further 39%.

Belize, with a CAGR of +43.8%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in Latin America and the Caribbean stood at $X per litre in 2021, growing by 12% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per litre in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per litre), while Colombia ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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