Mexico: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Mexico

The Mexican market for spirits, liqueurs and other spirituous beverages was estimated at $X in 2022, surging by 13% against the previous year. Overall, the total consumption indicated buoyant growth 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. Based on 2022 figures, consumption increased by +52.5% against 2020 indices. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Mexico

In value terms, production of spirits, liqueurs and other spirituous beverages rose to $X in 2022 estimated in export price. Overall, production continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 18%. Production of peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Mexico

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages decreased by -3.1% to X litres, falling for the second year in a row after three years of growth. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 80% against the previous year. The exports peaked at X litres in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of spirits, liqueurs and other spirituous beverages skyrocketed to $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 30% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from Mexico, with a 83% share of total exports. It was followed by Colombia (X litres), with a 2.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+37.1% per year) and Costa Rica (+24.8% per year).

In value terms, the United States ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Mexico, comprising 89% of total exports. The second position in the ranking was taken by Colombia ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+26.8% per year) and Costa Rica (+20.3% per year).

Export Prices by Country

The average export price for spirits, liqueurs and other spirituous beverages stood at $X per litre in 2022, growing by 31% against the previous year. Overall, the export price showed perceptible growth. The growth pace was the most rapid in 2021 an increase of 61%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to Costa Rica ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.0%), while the prices for the other major destinations experienced a decline.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Mexico

In 2022, the amount of spirits, liqueurs and other spirituous beverages imported into Mexico rose markedly to X litres, with an increase of 12% against 2021 figures. Over the period under review, imports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2016 when imports increased by 41%. Imports peaked at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of spirits, liqueurs and other spirituous beverages soared to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 40% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X litres) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Mexico, with a 68% share of total imports. Moreover, imports of spirits, liqueurs and other spirituous beverages from the United States exceeded the figures recorded by the second-largest supplier, Spain (X litres), fourfold. France (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 the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+12.5% per year) and France (-1.7% per year).

In value terms, the largest spirits, liqueurs and other spirituous beverages suppliers to Mexico were the United States ($X), Spain ($X) and France ($X), with a combined 88% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +17.2%, 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

The average import price for spirits, liqueurs and other spirituous beverages stood at $X per litre in 2022, surging by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2013 an increase of 45%. As a result, import price reached the peak level of $X per litre. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per litre), while the price for Poland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform