I have recently worked on an in-depth analysis covering the alcohol market of Ecuador, Colombia, and Peru. This was a market research and market size exercise. The client wanted to understand key metrics for these three countries – Ecuador, Colombia, and Peru – including the current market size, future growth, trends and drivers, and competitor landscape.

While doing this research, to my surprise, I came to know about the illegal alcohol market in Latin America. It is a massive issue for LATAM countries and is approximately one-fourth of the overall alcohol market – around $267M in Ecuador, $361M in Peru, and $940M in Colombia.

Below is a sample graph for Ecuador.

Some of the other findings from my analysis and market size include:

Ecuador Alcohol Beverages Market Size:

The overall legal spirits market in Ecuador is $420M and is projected to reach $454M by 2025. The country’s wine market is negligible, and it is projected to reach only $25M by 2025. In 2018, 11% of the alcohol in the country was imported, and the remaining 89% was local.

Peru Alcohol Beverages Market Size

The overall alcohol drink market for Peru is $6.4B. The market is expected to grow annually at 11.35% (CAGR 2021-2025). The largest segment is Beer, with a market volume of $3.6B in 2021. In Peru, the per person revenue of $190.47 will be generated in 2021.

Colombia Alcohol Beverages Market Size

As per an estimate, the Spirits market in Colombia is a $2.5B market and is projected to reach $3.8B by 2025. Unlike the other two countries, the Wine market of Colombia is extensive, and it is projected to reach $1B by 2025. The overall CAGR for alcohol beverages in the country is 10.2% YoY

Another critical thing to know about these markets is import duties. While in Peru and Colombia, there are only a few types of taxes like general rate, free consumption tax, municipal tax, VAT, and excise duties. In Ecuador, there are several other taxes like general rate, CORPEI, FODINFA, customs control fee, inspection fee, excise duty – ICE, other excise duties, and VAT. So, it becomes a little more complicated to import alcohol in Ecuador compared to Peru and Colombia.

I am a business consultant with several years of experience in business strategy, secondary research, and consulting. Please feel free to reach out to me, If you want a detailed report on the LATAM alcohol market and any other geography.