Latin America and the Caribbean: Gin And Geneva Market 2024

Gin And Geneva Market Size in Latin America and the Caribbean

The Latin American gin and geneva market totaled $X in 2022, growing by 13% against the previous year. Overall, consumption enjoyed a buoyant expansion. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Gin And Geneva Production in Latin America and the Caribbean

In value terms, gin and geneva production reduced to $X in 2022 estimated in export price. In general, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 51%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Gin And Geneva Exports

Exports in Latin America and the Caribbean

In 2022, the amount of gin and geneva exported in Latin America and the Caribbean reduced modestly to X litres, falling by -2.3% on the previous year. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 -23.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 60%. Over the period under review, the exports hit record highs at X litres in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, gin and geneva exports expanded significantly to $X in 2022. Overall, exports, however, posted a notable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 39%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X litres) and Panama (X litres) represented the key exporters of gin and geneva in 2022, recording approx. 35% and 33% of total exports, respectively. It was distantly followed by Mexico (X litres) and Venezuela (X litres), together achieving a 10% share of total exports. Suriname (X litres), Peru (X litres), Trinidad and Tobago (X litres), Bolivia (X litres), Argentina (X litres) and Guatemala (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +82.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Panama ($X) and Venezuela ($X) constituted the countries with the highest levels of exports in 2022, with a combined 59% share of total exports.

Among the main exporting countries, Brazil, with a CAGR of +81.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per litre, picking up by 12% against the previous year. In general, the export price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2017 when the export price increased by 53% against the previous year. The level of export peaked at $X per litre in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+17.6%), while the other leaders experienced more modest paces of growth.

Gin And Geneva Imports

Imports in Latin America and the Caribbean

In 2022, approx. X litres of gin and geneva were imported in Latin America and the Caribbean; growing by 16% on the previous year. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 64% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, gin and geneva imports skyrocketed to $X in 2022. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 50%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Brazil (X litres) represented the main importer of gin and geneva, making up 42% of total imports. Mexico (X litres) ranks second in terms of the total imports with a 13% share, followed by Argentina (11%) and Chile (9.2%). Colombia (X litres), the Dominican Republic (X litres), Panama (X litres), Bahamas (X litres) and Paraguay (X litres) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the gin and geneva imports, with a CAGR of +61.4% from 2012 to 2022. At the same time, Paraguay (+43.9%), Chile (+37.5%), Argentina (+29.0%), the Dominican Republic (+26.0%), Mexico (+23.9%), Colombia (+7.4%) and Bahamas (+1.0%) displayed positive paces of growth. By contrast, Panama (-5.3%) illustrated a downward trend over the same period. Brazil (+40 p.p.), Chile (+6.8 p.p.), Argentina (+5.5 p.p.), Mexico (+3.2 p.p.) and Paraguay (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Bahamas and Panama saw its share reduced by -7%, -11% and -28.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest gin and geneva importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), together comprising 58% of total imports. These countries were followed by Chile, Panama, Colombia, the Dominican Republic, Paraguay and Bahamas, which together accounted for a further 29%.

Paraguay, with a CAGR of +50.8%, recorded the highest growth rate of 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per litre, picking up by 16% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 19%. As a result, import price reached the peak level of $X per litre. From 2018 to 2022, the import prices remained at a lower figure.

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 Panama ($X per litre), while Brazil ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+12.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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