LAMEA Wine Market is estimated to grow at a CAGR of 3.5% during the forecast period.

LAMEA Wine Market is estimated to grow at a CAGR of 3.5% during the forecast period. In 2018, the market in LAMEA was valued at $17.3 billion and is further estimated to reach $21.9 billion in 2025. The factors contributing to the market growth include increasing demand for alcoholic beverages in emerging economies such as Brazil and South Africa due to their growing population base and increasing consumption of alcohol by the young generation. The changing social norms and the growing acceptability of alcohol have led to high and regular alcohol consumption among people in the region.

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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.

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LAMEA Wine Market-Segmentation

By Type
• Still Wine
• Sparkling Wine
• Dessert Wine
• Fortified Wine

By Distribution Channel
• Online
• Offline

LAMEA Wine Market-Regional
• Brazil
• Argentina
• UAE
• South Africa
• Nigeria
• Rest of LAMEA

Company Profiles
• Accolade Wines
• Bronco Wine Co.
• Bundaberg Brewed Drinks Pvt. Ltd.
• Carlsberg Breweries A/S
• Constellation Brands, Inc.
• Craft Brew Alliance

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This release was published on openPR.