Market research

Ethyl alcohol market in Latin America and the Caribbean

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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"Latin America and the Caribbean" region includes following countries:

Argentina

Bolivia

Bouvet Island

Brazil

Chile

Colombia

Ecuador

Falkland Islands (Malvinas)

South Georgia and the South Sandwich Islands

French Guiana

Guyana

Paraguay

Peru

Suriname

Uruguay

Venezuela

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Mexico

Nicaragua

Panama

Antigua and Barbuda

the Bahamas

Barbados

British Virgin Islands

Cayman Islands

Cuba

Dominica

Dominican Republic

Grenada

Guadeloupe

Haiti

Jamaica

Martinique

Montserrat

Curacao

Aruba

Saint Maarten (Dutch part)

Bonaire

Puerto Rico

Saint-Barthélemy

Saint Kitts and Nevis

Anguilla

Saint Lucia

Saint-Martin (French Part)

Saint Vincent and the Grenadines

Trinidad and Tobago

Turks and Caicos Islands

United States Virgin Islands

Earlier Report Observations

The ethyl alcohol market in Latin America and the Caribbean experienced significant fluctuations in volume between 2018 and 2021. Market size fell from 3 704 million liters in 2018 to 2 629 million liters in 2020, before recovering to 3 228 million liters in 2021. In value terms, the market moved from USD 1 902 million in 2018 to USD 1 722 million in 2021, reflecting similar volatility.

A sharp contraction occurred in 2022, with market volume dropping to 1 828 million liters. This was influenced by evolving global regulations for denatured alcohol concerning handling, storage, and transport, which required adjustments in industrial processes and formulations. The market rebounded to 2 437 million liters in 2023, supported by a clear consumer trend towards craft and premium spirits, which increased demand for innovative flavors and experiences across the region.

By 2024, market dynamics continued to be shaped by the entry of new players, such as Tovaritch! Vodka, and strategic alliances like the one between Bacardi and Coca-Cola for ready-to-drink beverages, diversifying the competitive landscape. Simultaneously, strict regional labeling and distribution regulations remained a key factor affecting product commercialization and market access.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2023
    2. 4.1.2.2. Imports, 2018-2024
    3. 4.1.2.3. Exports, 2018-2024
    4. 4.1.2.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Latin America and the Caribbean
  1. 5.1.1. Annual dynamics of production in Latin America and the Caribbean in kind, 2018-2023, M l
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, M l
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, M l
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data*)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, M l
    1. 6.1.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, M l
    2. 6.1.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, M l
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/K l
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/K l
    2. 6.1.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/K l
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, M l
    1. 6.2.2.1. Annual dynamics of product's exports from Argentina in kind, 2018-2024, M l
    2. 6.2.2.2. Dynamics of product's exports in kind from Argentina by countries, 2018-2024, M l
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Argentina in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Argentina by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/K l
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Argentina, 2018-2024, $ US/K l
    2. 6.2.4.2. Dynamics of average price of product's exports from Argentina by countries, 2018-2024, $ US/K l
7. Imports
1. 7.1. Imports (Direct Data*)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, M l
    1. 7.1.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, M l
    2. 7.1.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, M l
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/K l
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/K l
    2. 7.1.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/K l
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, M l
    1. 7.2.2.1. Annual dynamics of product's imports to Argentina in kind, 2018-2024, M l
    2. 7.2.2.2. Dynamics of product's imports in kind to Argentina by countries, 2018-2024, M l
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Argentina in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Argentina by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/K l
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Argentina, 2018-2024, $ US/K l
    2. 7.2.4.2. Dynamics of average price of product's imports to Argentina by countries, 2018-2024, $ US/K l
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, M l
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, M l
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production ethyl alcohol in Latin America and the Caribbean

In kind, 2017-2020, M l

Top producers of ethyl alcohol, 2017-2020

Source: SHEV.io

World map of production of ethyl alcohol, 2017-2020

Source: SHEV.io

Ethyl alcohol production in Latin America and the Caribbean grew for the second year in a row. In 2020, the region produced 4 058 million liters, marking a significant increase of 20.4% compared to 2019. Over the 2017-2020 period, production rose by 3.4%, with an average annual growth rate of 1.1%. The lowest production level was recorded in 2018 at 3 255 million liters, which represented the largest decline of 17.0% during this timeframe.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, M l

Parameter		2018	2019	2020	CAGR
1	Change from last year	(17.0%)	3.5%	20.4%	1.1%

Source: SHEV.io

In value, 2017-2020, M $ US

The value of ethyl alcohol production in Latin America and the Caribbean increased for the second consecutive year. In 2020, output was valued at 2 154 million US dollars, showing an improvement of 13.9% over 2019. However, over the 2017-2020 period, production value decreased by 11.1%, with an average annual decline of 3.9%. The lowest value was recorded in 2018 at 1 862 million US dollars, which saw the largest drop of 23.2%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(23.2%)	1.6%	13.9%	(3.9%)

Source: SHEV.io

Exports ethyl alcohol from Latin America and the Caribbean

Exports in kind, M l

Ethyl alcohol exports from Latin America and the Caribbean rose for the third consecutive year. In 2020, exports reached 3 066 million liters, representing a substantial year-over-year gain of 20.5%. Between 2017 and 2020, exports increased by 77.5%, equating to an annualized growth rate of 21.1%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, M l

Parameter		2018	2019	2020	CAGR
1	Change from last year	22.0%	20.7%	20.5%	21.1%

Source: SHEV.io

From 2017 to 2020, the United States, South Korea, and the Netherlands formed the core of exports in volume terms. The United States accounted for 43.4% of exports, South Korea for 23.7%, and the Netherlands for 12.5%, together representing 79.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Exports in value, M $ US

The value of ethyl alcohol exports from Latin America and the Caribbean increased for the third year in a row. In 2020, exports totaled 1 628 million US dollars, amounting to a 14.0% increase compared to the previous year. Between 2017 and 2020, export value grew by 52.5%, with an annualized rate of 15.1%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	12.9%	18.4%	14.0%	15.1%

Source: SHEV.io

Over the 2017-2020 period, the United States, South Korea, and the Netherlands remained the leading destinations for exports in value terms. The United States accounted for 42.5% of exports, South Korea for 20.3%, and the Netherlands for 14.0%, with their combined share reaching 76.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io

Imports ethyl alcohol to Latin America and the Caribbean

Imports in kind, M l

Ethyl alcohol imports into Latin America and the Caribbean declined for the second consecutive year. In 2020, the region imported approximately 1 637 million liters, equivalent to a dramatic contraction of 26.2% compared to 2019. Over the 2017-2020 period, imports decreased by 31.7%, with an average annual decline of 11.9%. The highest import volume was recorded in 2018 at 2 556 million liters, which saw the largest increase of 6.6% during this timeframe.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, M l

Parameter		2018	2019	2020	CAGR
1	Change from last year	6.6%	(13.2%)	(26.2%)	(11.9%)

Source: SHEV.io

From 2017 to 2020, the United States and the Netherlands clearly led the country ranking for imports in volume terms, with their combined share reaching 87.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Source: SHEV.io

Imports in value, M $ US

The value of ethyl alcohol imports into Latin America and the Caribbean declined for the third consecutive year. In 2020, imports were valued at 1 073 million US dollars, down by 3.9% compared to the previous year. Over the 2017-2020 period, import value decreased by 21.9%, with an average annual decline of 7.9%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(9.3%)	(10.3%)	(3.9%)	(7.9%)

Source: SHEV.io

Over the 2017-2020 period, the United States was the main source for imports in value terms, accounting for 84.1% of total import flows into Latin America and the Caribbean.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Latin America and the Caribbean in value, 2017-2020

Source: SHEV.io