Market Insights Consumer Alcoholic Drinks

Spirits - Uruguay

Uruguay

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$317.0m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$144.4m in 2024.
Revenue, combined amounts to US$461.3m in 2024.
The revenue, at home is expected to grow annually by 6.61% (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$92.59 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 14.0m L by 2024.
Volume, out-of-home is expected to amount to 1,567.0k L in 2024.
Volume, combined is expected to amount to 15.6m L in 2024.
The Spirits market is expected to show a volume growth, at home of 1.1% in 2025.
The average volume per person, at home in the Spirits market is expected to amount to 4.10L 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 Uruguay has been experiencing steady growth in recent years. Customer preferences in the country are shifting towards premium and craft spirits, while also showing an increased interest in local and traditional products. This trend is driven by a combination of factors, including changing consumer tastes, a growing middle class, and an expanding tourism industry.

Customer preferences: Uruguayan consumers are increasingly seeking out premium and craft spirits. They are willing to pay a higher price for products that offer unique flavors and high-quality ingredients. This trend is driven by a desire for more sophisticated and refined drinking experiences. Additionally, there is a growing interest in supporting local producers and traditional methods of production. Consumers are valuing authenticity and craftsmanship in their spirits choices.

Trends in the market: One of the key trends in the Spirits market in Uruguay is the rise of local and traditional products. Uruguayan consumers are showing a preference for spirits that are made using traditional methods and local ingredients. This trend is driven by a desire to connect with their cultural heritage and support local producers. As a result, there has been an increase in the production and availability of artisanal spirits in the market. Another trend in the market is the growing popularity of premium spirits. Uruguayan consumers are becoming more willing to spend extra money on high-quality spirits that offer unique flavors and experiences. This trend is driven by a growing middle class with higher disposable incomes and a desire for luxury and indulgence. As a result, there has been an increase in the importation and availability of premium spirits in the market.

Local special circumstances: Uruguay has a rich cultural heritage when it comes to spirits production. The country is known for its wine and has a long history of producing high-quality spirits such as grappa and pisco. This has created a strong foundation for the development of the Spirits market in Uruguay. Additionally, the country's tourism industry has been growing steadily, attracting visitors from around the world. This has created a demand for local spirits as tourists seek to experience the unique flavors and traditions of Uruguay.

Underlying macroeconomic factors: The growth of the Spirits market in Uruguay is also supported by favorable macroeconomic conditions. The country has experienced stable economic growth in recent years, which has led to an increase in disposable incomes. This has allowed consumers to spend more on premium and craft spirits. Additionally, Uruguay has a relatively low tax burden on alcohol, making spirits more affordable for consumers. These factors have contributed to the growth and development of the Spirits market in Uruguay.

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.