Market Insights Consumer Alcoholic Drinks

Spirits - Puerto Rico

Puerto Rico

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$267.9m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$386.8m in 2024.
Revenue, combined amounts to US$654.7m in 2024.
The revenue, at home is expected to grow annually by 9.18% (CAGR 2024-2028).
In global comparison, most revenue, at home is generated in China (US$150,400m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$81.95 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 11,750.0k L by 2024.
Volume, out-of-home is expected to amount to 3,272.0k L in 2024.
Volume, combined is expected to amount to 15.0m L in 2024.
The Spirits market is expected to show a volume growth, at home of 7.2% in 2025.
The average volume per person, at home in the Spirits market is expected to amount to 3.60L in 2024.

Key regions: Australia, Singapore, India, Worldwide, United States

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Market

Region

Region comparison

Currency

Analyst Opinion

The Spirits market in Puerto Rico has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: In Puerto Rico, consumers have shown a growing preference for premium and craft spirits. They are increasingly seeking unique and high-quality products that offer a distinct flavor and experience. This shift in preferences has led to an increase in demand for premium spirits such as aged rums, artisanal gins, and small-batch whiskeys. Additionally, there is a growing interest in locally produced spirits, as consumers value products that are made with local ingredients and reflect the cultural heritage of Puerto Rico.

Trends in the market: One of the key trends in the Spirits market in Puerto Rico is the rise of cocktail culture. Consumers are becoming more adventurous in their drink choices and are experimenting with different flavors and ingredients. This has led to an increased demand for spirits that can be used in cocktails, such as flavored vodkas, liqueurs, and mixers. As a result, bartenders and mixologists are playing a crucial role in driving the growth of the market, as they create innovative and unique cocktails that cater to the evolving tastes of consumers. Another trend in the market is the increasing popularity of low-alcohol and non-alcoholic spirits. Health-conscious consumers are looking for alternatives to traditional alcoholic beverages, and this has created a demand for spirits that offer the same taste and experience but with lower alcohol content or no alcohol at all. This trend is particularly prominent among younger consumers who are seeking healthier lifestyle choices.

Local special circumstances: Puerto Rico has a rich tradition of rum production, and it is known for producing some of the finest rums in the world. The local rum industry has deep roots in the culture and history of Puerto Rico, and this has contributed to the strong demand for rum in the market. Additionally, the island's tropical climate and fertile land provide ideal conditions for growing sugarcane, the main ingredient in rum production. This local advantage has allowed Puerto Rico to establish itself as a leading producer and exporter of rum.

Underlying macroeconomic factors: The growth of the Spirits market in Puerto Rico is also influenced by underlying macroeconomic factors. The country has experienced economic stability and a growing middle class, which has led to an increase in disposable income and consumer spending. As a result, consumers are more willing to spend on premium and high-quality spirits, driving the growth of the market. Additionally, the tourism industry plays a significant role in the Spirits market, as Puerto Rico is a popular destination for tourists from around the world. The influx of tourists has created a demand for spirits, particularly those that are unique to Puerto Rico, further fueling the growth of the market.

Methodology

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.