Pisco Market

Pisco Market Size:

The global pisco market size reached US$ 758.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,230.1 Million by 2032, exhibiting a growth rate (CAGR) of 5.52% during 2024-2032. The global market is primarily driven by the rising demand for artisanal spirits among the masses, favorable trade agreements, continuous development of new varieties, increasing popularity of cocktail culture, and shifting consumer preference for premium and exotic beverages.

Pisco Market Analysis:

• Major Market Drivers: The global Pisco market overview highlights that the market is primarily driven by the increasing consumer interest in premium and exotic alcoholic beverages. Increased global tourism and cultural promotion activities further supports the growth of the market.
• Key Market Trends: Key trends in the market include a growing preference for organic and artisanally produced types to meet the requirements of health-conscious consumers. Furthermore, the rise in digital marketing, social media, and the diversification of new types of pisco, such as Puro and Aromáticas, accelerates the market.
• Geographical Trends: Chile and Peru dominates the Pisco market recent developments due to their historic ties and quality production. While Latin America is the largest market, North America and Europe display the most aggressive growth, based on exportation and the consumption of artisan spirits.
• Competitive Landscape: Competition in the Pisco market is robust, with key players including Control C, Barsol, Capel, Tacama, La Diablada, and Ocucaje. Major companies focus on product quality improvement and extension of the distribution network.
• Challenges and Opportunities: The industry faces challenges like market competition from other spirits and regulatory differences between countries. However, there are substantial Pisco market recent opportunities in expanding to untapped markets and leveraging online sales channels to reach a broader audience.
   

Pisco Market Trends:

Rising consumer interest in premium and exotic alcoholic beverages

As the world witnesses the growth in the number of affluent consumer segments, there is a notable increase in demand for premium labels associated with a high-quality quotient and sophisticated flavor profiles. Its exotic appeal and artisanal production chain make it a premium choice for the masses. This trend is in tune with the overall consumer shift to high-quality, low-quantity consumption patterns. With rising urbanization, consumers are investing their money into the production of more authentic and well-crafted spirits which is in turn propelling the pisco market growth. The rise of specialty liquor shops and luxury bars with pisco as their main feature is the most evident trend, further addresses an increasing number of sophisticated consumers of cocktails, making pisco an indispensable component of the upscale drinking scene.

Growing influence of social media and digital marketing

Social media and digital marketing campaigns are crucial to the market, especially amongst younger, more technologically sophisticated drinkers. Pisco brands effectively use platforms, including Instagram, Facebook, and Twitter in showcasing the heritage and mixology of the spirit. The digital existence is key in shaping the image, educating consumers, and engaging with them on a global level, expanding Pisco's visibility and attraction. Additionally, data-driven targeted advertising is aimed at wide marketing campaigns and extremely focused on potential customers based on their previous contacts and settings.

According to an industry analysis, digital advertising is set to represent 30% of total alcohol advertising expenditure in 2023, marking an increase from 21% in 2019

Innovative product variants and branding strategies

Manufacturers are constantly developing new methods of creating different varieties and aging ways to meet the consumers’ demand across the globe. The varieties from Puro, Aromáticas, Mosto Verde, and El Acholado have distinctive characteristics and complexities in each, therefore increasing the range of consumers and making the pisco more versatile in cocktails. Moreover, producers feature their brands with eye-catching packaging and on marketing campaigns that tell a nostalgic story of pisco while differentiating it from other spirits brands. These branding strategies bolster the market position, and factor heavily in raising the interest of consumers and broadening pisco demand internationally.

Pisco Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on origin, type, and sales channel.

Breakup by Origin:

• Chile
• Peru
   

Chile accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the origin. This includes Chile and Peru. According to the report, Chile represented the largest segment.

Chile holds the highest share in the pisco market revenue. This dominance is due to Chile's long-standing traditions and well-developed infrastructure for pisco, which facilitates high output and distribution. Pisco from Chile is highly appreciated for its high quality and different types that appeal to consumers within Chile and outside its borders. International marketing policies and export incentives have further strengthened Chile's dominant position in the global pisco market. The pisco market in Chile is showing high growth fueled by increasing awareness and brand-building globally, along with new export deals.

Trade Gov reports stated that in 2022, the retail food sales reached a total of 26.8 billion dollars, an increase of 12% compared to 2021.

Breakup by Type:

• Pisco Puro
• Mosto Verde
• Others
   

Pisco Puro holds the largest share of the industry

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes Pisco Puro, Mosto Verde, and others. According to the report, Pisco Puro accounted for the largest market share.

Pisco Puro, characterized mostly by pure and intense grape flavor, takes up the biggest share in the market. This is due to the traditional way of production, making it preferred by purists and enthusiasts who want to have the authentic pisco experience. The demand for pisco puro has increased among consumers with a growing demand for premium and high-quality spirits in their natural forms. Furthermore, the market trends show a clear need for a high-quality spirit with traditional character which meets this pisco puro demand and provides a positive pisco market outlook. Moreover, the introduction of innovative aging and distillation processes augments the growth of the market.

Breakup by Sales Channel:

• Supermarket/Hypermarket
• Specialty Stores
• Online Stores
• Others
   

Supermarket/hypermarket represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the sales channel. This includes supermarket/hypermarket, specialty stores, online stores, and others. According to the report, supermarket/hypermarket represented the largest segment.

The supermarket and hypermarket represent the largest share of the market. These major retail chains are highly regarded in terms of driving the industry revenue since they cover a broader geographical area and have a large customer base. Through impeccable selection of pisco brands and varieties, these stores carry out valuable mission in influencing spending habits and propelling pisco to casual customers and true aficionados. The pisco market forecast for supermarkets and hypermarkets looks robust, as retail strategies become more sophisticated, including in-store tastings and promotions, which are expected to propel sales further.

Breakup by Region:

• North America
  • United States 
  • Canada 
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain 
  • Others 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa
   

Latin America leads the market, accounting for the largest pisco market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Latin America represents the largest regional market for pisco.

Latin America, particularly Peru and Chile, leads the global market, holding the largest share. This region's dominance is underpinned by its rich history and cultural ties to pisco production, making it the epicenter of both supply and demand. The market outlook in Latin America is highly positive, supported by strong local consumption and increasing international interest. As the global appetite for authentic and regionally distinct spirits grows, Latin America is poised to continue its leadership, driven by both traditional consumption patterns and innovative pisco market trends that attract new consumers worldwide.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the pisco industry include:

• Barsol Pisco GmbH
• Bauza
• Caravedo Piscos
• Catan Pisco
• Compañía de las Cervecerías Unidas S.A.
• Macchu Pisco LLC
• Malpaso
• Perola GmbH
• Pisquera Tulahuen SpA
• The Pisco People
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

The major companies in the market are demonstrating significant innovation in their strategies to leverage new emerging market trends, thus improving their position in the industry. Companies are now increasingly looking to expand globally, entering new markets through strategic partnerships and distribution agreements. Key players in the market are also diversifying their product line and launching unique variations of Pisco, such as organic or infused, to meet the changing taste and preferences of the consumers around premium and specialty spirits. Pisco companies are also investing in marketing and branding, utilizing digital platforms to communicate with younger demographics and enhance brand loyalty.

Pisco Market News:

• On 10^th May 2023, Compañía de las Cervecerías Unidas S.A. announced its consolidated financial and operating results for the first quarter 2023, which ended March 31, 2023.
• On 6^th April 2023, Langley’s Gin partnered with Perola GmBH. The partnership plays a vital role in Langley’s global expansion plans as it seeks to become the most responsible yet accessible gin brand in the market.
• On 20^th Nov 2020, Catan Pisco secured a retail partnership with Target in the United States.

Pisco Market Report Scope:

Key Questions Answered in This Report:

• How has the global pisco market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global pisco market?
• What is the impact of each driver, restraint, and opportunity on the global pisco market?
• What are the key regional markets?
• Which countries represent the most attractive pisco market?
• What is the breakup of the market based on the origin?
• Which is the most attractive origin in the pisco market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the pisco market?
• What is the breakup of the market based on the sales channel?
• Which is the most attractive sales channel in the pisco market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global pisco market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pisco market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global pisco market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pisco industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.