The distilled alcoholic beverages market in Chile stood at 40.0 thousand metric tons in 2023. Year-on-year variations show a declining trend, with a decrease of 2.44% from 2022 to 2023. The CAGR of -0.49% over the last five years indicates a gradual downturn in the market. From 2014 to 2019, fluctuations were noted, with the most significant drop occurring in 2020, which saw nearly a 19% decrease. Post-2020, a recovery was observed, but stability remained elusive, as the years 2021 and 2022 remained flat.
Looking towards the future, the market is expected to continue its downward trajectory, with forecast data indicating a CAGR of -0.78% from 2024 to 2028, resulting in a total decline of 3.85% over the next five years. By 2028, the market volume is projected to be 38.24 thousand metric tons.
Future trends to watch for:
- Changes in consumer preferences: There could be shifts towards premium and craft spirits, impacting overall volumes.
- Regulatory changes: New policies on alcohol sales and consumption could affect market dynamics.
- Economic conditions: Economic stability or instability in Chile may significantly influence consumer spending on non-essential items like distilled beverages.
