Alcoholic drinks in 2024: The big picture
Volume sales of alcoholic drinks recorded a double-digit decline in Argentina in 2024. The International Monetary Fund (IMF) forecast a 3.5% contraction in Argentina's GDP for 2024, while inflation saw a significant reduction at the end of 2024. Javier Milei, a libertarian economist, was elected president in December 2023, pledging to drastically cut state expenditure. Since taking office, he devalued the peso by over 50%, eliminated tens of thousands of public sector jobs, and reduced the size of government by half. The new administration has embarked on a substantial fiscal adjustment, including the removal of hundreds of price controls.
2024 key trends
Beer remained the largest category within alcoholic drinks in Argentina in 2024; however, volume sales experienced a sharp double-digit decline. The consumption of alcoholic beverages collapsed over the course of the year, closely aligned with the government's sweeping economic reforms under President Javier Milei. These reforms, which included significant cuts to public sector employment, resulted in a notable contraction in consumer activity and spending. According to the official statistics agency INDEC, the national unemployment rate rose to 7.7% in the first quarter of 2024, up from 5.7% at the end of 2023, representing approximately 300,000 additional unemployed individuals. This sharp deterioration in the labour market severely impacted the purchasing power of middle- and low-income socioeconomic groups, which constitute the largest base of beer consumers in the country. As a consequence, beer, accounting for the majority of total alcoholic drinks volume sales in Argentina, saw a steep drop in demand. Many lower-income consumers reduced their beer consumption and traded down to more affordable alternatives, such as still grape wine sold in carton packaging.
Competitive landscape
Cervecería y Maltería Quilmes SA, was the leading company within alcoholic drinks overall in 2024. The player leads beer, offering its brands including Brahma, Quilmes Cristal, Stella Artois, Andes and Budweiser. However, following the sharp contraction in beer sales caused by the economic crisis in 2024, leading players, most notably Cervecería y Maltería Quilmes SAICAyG and its main rival, Cía Cervecerías Unidas SA, lost market share. In contrast, local wineries recorded a modest increase in volume sales. The overall concentration of alcoholic drinks volume sales shifted away from global beer producers, with domestic wine companies benefiting from the relative resilience of wine during the year.
Retail developments
Small local grocers was the leading distribution channel within alcoholic drinks overall in 2024, improving its share. President Milei’s government discontinued the system of price controls on food and beverages, which had been stringently applied to the modern retail channel between 2019 and 2023. As a consequence, consumers began to frequent small local grocers with greater regularity. However, the value of individual purchases declined, as households sought to manage and reduce their spending.
On-trade vs off-trade split
On-trade sales of alcoholic drinks experienced a significant contraction in 2024, driven by the severe income crisis affecting Argentina. The substantial loss in purchasing power among middle- and low-income socio-economic groups marked a fundamental shift in consumer behaviour and societal attitudes towards spending. In stark contrast to the post-COVID-19 period, when indulgent spending became commonplace, 2024 saw frugality emerge as the prevailing trend. Extreme saving habits were widely adopted, fuelled by widespread concern over job security, leading to a sharp reduction in out-of-home consumption, particularly dining and drinking occasions.
What next for alcoholic drinks?
Volume sales of alcoholic drinks are set to rise over the forecast period, as the industry rebounds in line with the improving economic scenario. Beer, the largest category, will see ongoing growth, somewhat driven by consumer migration towards more affordable packaging formats. In contrast, the wine industry is likely to be impacted by climate change, with increasingly erratic weather patterns, ranging from droughts to excessive rainfall, threatening grape yields compared with previous harvests. This volatility is anticipated to place upward pressure on prices, reducing the competitiveness of value wines in relation to mainstream and economy beers. Additionally, rising costs for wine production inputs are expected to challenge the price positioning of entry-level wines, making it harder for these products to compete effectively with more cost-accessible beer alternatives.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Alcoholic Drinks industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Beer
- Wine
- Spirits
- Cider and Perry
- RTDs
If you're in the Alcoholic Drinks industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty
The Alcoholic Drinks in Argentina report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Alcoholic Drinks in Argentina?
- Where is consumer demand for Alcoholic Drinks focussed?
- Which is being consumed more; beer, wine or spirits?
- Where is demand growing? Stagnating?
- How is the operating environment for alcoholic drinks changing?
- Which are the leading brands in Argentina?
- How are products distributed in Argentina?
- What are the key trends in new product development?
- Do consumers want value for money or added value?
- How will macroeconomic context and shifting cultural values shape future growth?
- How will COVID-19 and recession impact the alcoholic drinks industry?
- Where is future growth expected to be most dynamic?
Alcoholic Drinks in Argentina
Alcoholic drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
On-trade vs off-trade split
What next for alcoholic drinks?
Legislation
Legal purchasing age and legal drinking age
Drink driving
Advertising
Smoking ban
Opening hours
On-trade establishments
TAXATION AND DUTY LEVIES
Contraband/parallel trade
Duty free
Cross-border/private imports
Outlook
DISCLAIMER
Beer in Argentina
KEY DATA FINDINGS
Beer sales plummet as the recession shapes consumer buying habits in 2024
Cerveceria y Maltería Quilmes solidifies its leadership, increasing its advertising and promotional activity
Small local grocers grow while discount stores gain relevance, driven by Dia Argentina
Growth is expected to be aided by a movement towards affordable pack sizes
Non alcoholic beer will grow steadily, widening the consumer base while creating new consumption occasions
Premiumisation will rebound thanks to a better economic scenario, and the easing of import restrictions
Lager price band methodology
Cider/Perry in Argentina
KEY DATA FINDINGS
Cider sales fall as the ongoing income crisis shapes consumer buying habits
Premiumisation stagnates as the economic recession triggers trading down
Supermarkets lead distribution as consumers appreciate affordable price points
Growth is set to be bolstered by economic recovery and fierce competition between the main players
Premium options may rebound, with players offering new varieties and lower-sugar options
Craft cider may drive sales with increasing penetration in specialist alcoholic stores and on trade facilities
Rtds in Argentina
KEY DATA FINDINGS
Sales of RTDs decline as consumers limit consumption of discretionary items
Cepas Argentinas leads with Dr. Lemon, while second-placed Grupo Peñaflor improves its share
Small local grocers and discount stores gain ground during economic strain
Drinks perceived by consumers to be healthier are set to be in high demand
Further innovation is expected with the aim of widening the consumer base
Players are expected to focus on their retail e-commerce presence, boosting online growth
Spirits in Argentina
KEY DATA FINDINGS
Spirits sales record a double-digit decline, aligned with the negative economic scenario
Branca Destillerias leads sales with dominance in bitters, and a strong presence in vodka and English gin
Small local grocers experience heightened footfall, being the most dynamic channel in 2024
Spirits may rebound, supported by improved economic conditions and the easing of imports restrictions
Sales of English gin are set to be fuelled by brand activations and imported players
Retail e-commerce sales are set to rise, driven by company websites and the strong activity of Mercado Libre
Vodka, gin, other blended Scotch whisky, dark rum and white rum price band methodology
Wine in Argentina
KEY DATA FINDINGS
An oversupply allows players to reduce price points, driving sales during 2024
FeCoVitA Coop Ltda retains its lead while innovation focuses on new type of grapes and organic options
Small local grocers and discount stores see a solid rebound, taking volume from the modern channel
Wine sales are projected to rebound, although its vulnerability to climate change may challenge growth
Non alcoholic wine is set to rise, driven by health and wellness concern
New blends and grape varieties are expected to attract new consumers over the forecast period
The following categories and subcategories are included:
Alcoholic Drinks
-
-
- Ale
- Sorghum
- Weissbier/Weizen/Wheat Beer
-
- Flavoured/Mixed Lager
-
-
- Domestic Premium Lager
- Imported Premium Lager
-
- Domestic Mid-Priced Lager
- Imported Mid-Priced Lager
-
- Domestic Economy Lager
- Imported Economy Lager
-
-
-
- Domestic Premium Lager
- Domestic Mid-Priced Lager
- Domestic Economy Lager
-
- Imported Premium Lager
- Imported Mid-Priced Lager
- Imported Economy Lager
-
-
- Low Alcohol Beer
- Non Alcoholic Beer
- Stout
-
-
- Regular Cider/Perry
- Non Alcoholic Cider/Perry
-
- Malt-based RTDs
- Spirit-based RTDs
- Wine-based RTDs
- Other RTDs
- Non Alcoholic RTDs
-
-
- Brandy
- Cognac
-
- Bitters
- Cream-based Liqueurs
- Other Liqueurs
- Non Alcoholic Spirits
-
-
- Prestige Dark Rum
- Ultra Premium Dark Rum
- Super Premium Dark Rum
- Premium Dark Rum
- Standard Dark Rum
- Economy Dark Rum
-
- Prestige White Rum
- Ultra Premium White Rum
- Super Premium White Rum
- Premium White Rum
- Standard White Rum
- Economy White Rum
-
- Tequila (and Mezcal)
-
- Bourbon/Other US Whiskey
- Canadian Whisky
- Irish Whiskey
- Japanese Whisky
-
-
- Blended Malt Scotch Whisky
-
- Prestige Other Blended Scotch Whisky
- Ultra Premium Other Blended Scotch Whisky
- Super Premium Other Blended Scotch Whisky
- Premium Other Blended Scotch Whisky
- Standard Other Blended Scotch Whisky
- Economy Other Blended Scotch Whisky
- Single Grain Scotch Whisky
- Single Malt Scotch Whisky
-
- Other Whiskies
-
-
-
- Prestige English Gin
- Ultra Premium English Gin
- Super Premium English Gin
- Premium English Gin
- Standard English Gin
- Economy English Gin
- Dutch Gin
-
-
- Prestige Vodka
- Ultra Premium Vodka
- Super Premium Vodka
- Premium Vodka
- Standard Vodka
- Economy Vodka
-
-
- Absinthe
- Ad-Mix Brandy
- Ad-Mix Gin
- Ad-Mix Rum
- Ad-Mix Vodka
- Ad-Mix Whisky
- Aguardente/Aguardiente
- Aguardiente De Caña
- Akvavit/Aquavit
- Aniseed-Flavoured Spirits
- Borovicka
- Boukha
- Brandy Type Distilled Spirits
- Cachaça
- Calvados
- Cane
- Chacha
- Charanda
- Chinese Herbal Spirits
- Chinese Spirits
- Cut Brandy
- Destilados De Agave
- Distilled Fruit Spirits
- Domestic Brandy
- Domestic Rum
- Doppelkorn
- Economy Chinese Spirits
- Flavoured Spirits
- Flavoured Vodka-based Drinks
- Fynbos gin/Local Gin
- Gin-flavoured spirits
- Goldbrand/Goldkrone
- Grappa
- Grappamiel
- Guaro
- Kirsch
- Komovica
- Korn
- Lambanog
- Limoncello
- Local White Spirits
- Lower Mid-Range Chinese Spirits
- Lozovaca
- Maesilju
- Mahia Rabi Amrane
- Mead
- Mixed Spirits
- Nalivka/Nalewka
- Nastoyka
- National Specialities
- Obstbrände
- Ouzo
- Pacharán
- Palinca/Pálinka
- Pear and Apple Distillates
- Pisco
- Premium Chinese Spirits
- Prune
- Punsch
- Rachiu/Rakija
- Rum-Flavoured Spirits
- Samane
- Sambuca
- Samsu
- Schnapps
- Shochu/Soju
- Singani
- Sljivovica/Slivovice
- Steinhäeger
- Strong African Spirits
- Super Premium Chinese Spirits
- Sura Khao
- Tequila Flavoured Spirits
- Travarica
- Tsipouro
- Upper Mid-Range Chinese Spirits
- Vieux
- Viina
- Vodka Type Distilled Spirits
- Other Distilled Beverages
-
-
-
- Port
- Sherry
- Vermouth
- Other Fortified Wine
-
- Apple Wine
- Bokbunjaju
- Cheongju
- Chinese Wine
- Economy Rice Wine
- Fortified Fruit Wine
- Fruit and Berry Wine
- Fruit and Herbal Wine
- Fruit and Honey based Wine
- Fruit Wine
- Lower Mid-Range Rice Wine
- Non-Grape Dessert Wine
- Premium Rice Wine
- Sake
- Takju
- Upper Mid-Range Rice Wine
- Yakju
- Yellow Wine
- Other Non-Grape Wine
-
- Champagne
- Other Sparkling Wine
-
- Still Red Wine
- Still Rosé Wine
- Still White Wine
- Non Alcoholic Wine
-
Alcoholic Drinks
Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders.
- Track key industry trends, opportunities and threats.
- Inform your marketing, brand, strategy and market development, sales and supply functions.
This report originates from Passport, our Alcoholic Drinks research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!