The Argentina market accounts for nearly 17% of the Latin American flavoured alcoholic beverages market size. The market registered a compound annual growth rate (CAGR) of -15.4% during 2017-22 and 32% growth over 2021. According to GlobalData’s deep-dive analysis report, Argentina flavoured alcoholic beverages market databook, pre-mixed spirits accounted for a notable share of 58% among various flavoured alcoholic beverages segments in the market in 2022, followed by wine coolers. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
According to GlobalData’s company and brand analysis, Grupo Penaflor, Grupo Cepas and Cepas Argentinas held significant shares in the Argentina flavoured alcoholic beverages market in 2022. Concurrently, Frizze, Dr.Lemon and Smirnoff Ice led in terms of brand market share. Grupo Penaflor had the leading market share by volume in 2022. Companies operating in the Argentina flavoured alcoholic beverages market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that hypermarkets & supermarkets were the key channel of purchase for flavoured alcoholic beverages, along with food & drinks specialists. Also, convenience stores recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Hypermarkets & supermarkets constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Food & drinks specialists was the next preferred channel in the Argentina market.
Among the top Latin American markets, Mexico accounted for the highest volume share in 2022, followed by Brazil, Colombia, and Argentina.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the flavoured alcoholic beverages category and market forecast to 2027, buy the report here.