LAMEA Wine Market is estimated to grow at a CAGR of 3.5% during the forecast period.
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The wine market in Latin America and the Middle East & Africa are expected to have a major market share during the forecast period. Major economies contributing to the LAMEA market growth are Brazil, Argentina, Turkey, South Africa and so on. The two most prominent factors for the market growth in these regions include the increase in disposable income coupled with the rise in the economy. In Brazil, alcohol is the most widely used psychotropic substance among adults.
Brazil has the largest population in Latin America and has experienced considerable economic growth in the past decade. The country has around 209 million population in 2018 and more than 77% of the population is above 15 years.
In Brazil, the consumption of beer is maximum with around 62% of the total consumption followed by wine and spirit. There is an excise duty on wine, beer, and spirit in the country. The minimum age to drink beer, spirit, and wine in the country is 18 years. According to the same source, nearly 59.7% of the people are abstainers in the country with 21.4% lifetime abstainers; whereas 38.3% had not consumed alcoholic beverages from the last 12 months.
Moreover, it is required to print required health warning labels on alcohol containers and on advertisements in Brazil. Some of the factors that lead to LAMEA wine market growth in Brazil include the economic growth and low prices of alcoholic beverages.
A full report of LAMEA Wine Market is available at https://www.omrglobal.com/industry-reports/lamea-wine-market
LAMEA Wine Market-Segmentation
• Still Wine
• Sparkling Wine
• Dessert Wine
• Fortified Wine
By Distribution Channel
LAMEA Wine Market-Regional
• South Africa
• Rest of LAMEA
• Accolade Wines
• Bronco Wine Co.
• Bundaberg Brewed Drinks Pvt. Ltd.
• Carlsberg Breweries A/S
• Constellation Brands, Inc.
• Craft Brew Alliance
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