Pisco Market Size, Share, Growth Analysis, By Type(Pisco Puro, Mosto Verde, and Others), By Sales Channel(Supermarket/Hypermarket, Specialty Stores, and Online Stores & Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30F2039 | Region: Global | Published Date: March, 2024
Pages: 198 | Tables: 63 | Figures: 75

Pisco Market Insights

Global Pisco Market size was valued at USD 0.73 billion in 2022 and is poised to grow from USD 0.77 billion in 2023 to USD 1.24 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024- 2031).

The global pisco market has witnessed steady growth in recent years, driven by a rising interest in craft and artisanal spirits. Pisco, a grape-based brandy with its roots in South America, has gained popularity not only in its traditional markets like Peru and Chile but also in international cocktail scenes. Consumers are increasingly appreciating its unique flavor profile and versatility in mixology.

Additionally, health-conscious trends have favored pisco, given its association with natural ingredients and grape-derived antioxidants. The market's future growth is likely to be influenced by evolving consumer tastes and the continued expansion of cocktail culture worldwide, making it an intriguing segment within the broader alcoholic beverages industry.

US Pisco Market is poised to grow at a sustainable CAGR for the next forecast year.

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Pisco Market size was valued at USD 0.73 billion in 2022 and is poised to grow from USD 0.77 billion in 2023 to USD 1.24 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024- 2031).

The competitive landscape in the pisco market is characterized by a diverse mix of players, including established distilleries and newer craft producers. These competitors vie for market share by leveraging their unique production methods, terroir, and marketing strategies. 'acchu Pisco (Peru)', 'Cooperativa Agricola Pisquera Elqui Ltda (Chile)', 'Bauzá (Chile)', 'Barsol Pisco Perola GmbH', 'La Diablada Pisco (Peru)', 'Pisco MalPaso (Chile)', 'Pisquera Tulahuen SpA (Chile)', 'Catan Pisco (US)', 'Compañia de las Cervecerias Unidas (Chile)', 'Pisco Portón (Peru)', 'Kappa Pisco (Chile)', 'Pisco Capurro (Peru)', 'Barsol Pisco (Peru)', 'Campo de Encanto Pisco (US)', '1615 Quebranta Pisco (Peru)', 'Pisco Waqar (Chile)', 'Pisco Control (Switzerland)', 'Pisco Mistral (Chile)', 'Pisco Ocucaje (Peru)', 'Pisco ABA (US)'

Increasing westernization and rising incomes around the globe have promoted premiumization in the alcoholic beverages industry. According to DISCUS's chief economist, the major revenue growth in the alcoholic beverages industry is mainly achieved due to the rising consumption of high-end premium spirits. For instance, Radico Khaitan Ltd., the brand manufacturing Magic Moments Vodka, has said that the affluence of the middle-class will drives up the premium spirits market by 10% in India and other Asian countries.

Craft and Artisanal Pisco Surge: A prominent market trend in the pisco industry is the increasing consumer preference for craft and artisanal varieties. This trend reflects a growing appreciation for authentic and high-quality spirits, driven by a desire for unique flavor profiles and a connection to the origin of the product. Consumers are actively seeking out small-batch and boutique pisco brands that emphasize traditional production methods, regional terroir, and unique grape varieties, fostering a renaissance in the craft pisco sector. This trend aligns with the broader movement towards premiumization in the spirits industry, with consumers willing to pay a premium for distinctive and handcrafted pisco experiences.

Latin America, specifically Peru and Chile, is the largest and most dominating region in the pisco market. Pisco has deep historical and cultural roots in these countries, and they are known for producing high-quality pisco varieties. Peru and Chile have established regulatory frameworks and protected geographical indications for their pisco production, ensuring the authenticity and quality of the product. Furthermore, both countries actively promote pisco as a part of their cultural heritage, and pisco-based cocktails like the Pisco Sour are internationally renowned.

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Pisco Market Size, Share, Growth Analysis, By Type(Pisco Puro, Mosto Verde, and Others), By Sales Channel(Supermarket/Hypermarket, Specialty Stores, and Online Stores & Others), By Region - Industry Forecast 2024-2031

Pisco Market Insights

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