Pisco Market to Worth USD 1,057.8 Million by 2027 | 130 Pages Research Report
Key Companies in Pisco Market are Pisco Portón (Ica, Peru), Catan Pisco (Chicago, United States), Pisco MalPaso (Coquimbo, Chile), Barton Solvent Inc. (Peru), Cooperativa Agricola Pisquera Elqui Ltda (Santiago, Chile), Compañia Cervecerias Unidas (Las Condes, Chile), Pisquera Tulahuen SpA (Monte Patria, Chile), La Diablada Pisco (Peru), Bauzá (Chile), Macchu Pisco (Peru)
Pune, India, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global pisco market size is projected to reach USD 1,057.8 million by 2027, exhibiting a CAGR of 6.2% during the forecast period. Increasing awareness about the potential health benefits of pisco will play a central role in augmenting the development of this market. Pisco is a certain type of brandy that is derived from fermented grape juice. The drink is native to Chile and Peru, where pisco is considered the national beverage. Not only does pisco have an exotic taste but it also offers some distinct health benefits to drinkers. For example, drinking pisco after meals stimulates the secretion of gastric juices, thus aiding digestion.
Moreover, in case of hypothermia, adding pisco in hot tea along with lemon and honey can bring instant warmth to the body and prevent the body temperature from rising suddenly. In addition to this, flu-induced sore throat and fever can also be relieved by taking pisco-based tinctures. Thus, this Peruvian-Chilean drink promises a host of advantages related to health, which will increase its consumption around the world.
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*Leading Players Featured in the Research Report:*
Companies leading Pisco Market are Pisco Portón (Ica, Peru), Catan Pisco (Chicago, United States), Pisco MalPaso (Coquimbo, Chile), Barton Solvent Inc. (Peru), Cooperativa Agricola Pisquera Elqui Ltda (Santiago, Chile), Compañia Cervecerias Unidas (Las Condes, Chile), Pisquera Tulahuen SpA (Monte Patria, Chile), La Diablada Pisco (Peru), Bauzá (Chile), Macchu Pisco (Peru).
*Report Scope & Segmentation:*
*Report Attributes* *Details*
Forecast Period 2020-2027
Forecast CAGR 6.2%
2027 Value Projection USD 1,057.8 Million
Pisco Market Size in 2019 USD 670.5 Million
Historical Data 2016-2018
No. of Pages 130
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered · By Origin
· By Type
· By Region
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Pisco Market Growth Drivers Growing Popularity of Traditional Spirits to Enhance Market Performance
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*Export and Consumption Trends:*
Both Peru and Chile actively export Pisco to a range of countries, contributing to the spirit's global reach. The market for Pisco is not only characterized by its availability but also by the diversity of options it offers. Consumers may find themselves choosing from established brands with a long history or exploring the products of smaller, artisanal producers with a focus on quality and unique flavor profiles.
*Cultural Significance and Traditions:*
Beyond its commercial appeal, Pisco holds a deep cultural significance in both Peru and Chile. It is intertwined with traditional celebrations and is a source of national pride. The production of Pisco often involves age-old techniques passed down through generations, adding a touch of heritage to every bottle.
*Restraining Factor*
*Staggered Operations of Hotels & Bars amid COVID-19 to Restrict Market Growth*
The pisco market growth is facing massive impediments amid COVID-19 as the pandemic led to the initial closure and subsequent staggered opening of bars and restaurants in major economies. In the US, for example, the states of Florida and Texas announced that bars would have to shut down to stop the spread of the coronavirus, when cases spiked in June 2020. In March, when the pandemic erupted, several casinos in Las Vegas closed their operations, while states such as Ohio and California directed bars and restaurants to announce temporary closures. Even now, with countries slowly restoring economic activities, bars are being forced to follow strict time and social distancing regulations. For example, in the UK, bars have been instructed to close down by 10 pm, while in India the Maharashtra state government has allowed bars and restaurants to function with limited capacity. The imposition of the coronavirus-induced lockdown and social distancing measures on bars is, therefore, likely to stymie the demand and consumption of exotic alcoholic beverages such as pisco.
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*Regional Insights*
*South America to Occupy Driver’s Seat; Europe to Present Exciting Prospects*
At USD 374.4 million, South America dominated the pisco market share in 2019 as the region is home to the two largest producers of the drink in the world, Peru and Chile. Companies in this region are constantly innovating and developing unique alcoholic blends to cater to the growing popularity of exotic drinks in North America and Europe. Moreover, the companies are also producing premium pisco variants for the domestic as well as the international market.
Europe is slated to emerge as the second-largest region for this market due to the surging demand for traditional foreign alcohols across the continent. In Asia Pacific, the market outlook appears wide and bright on account of the deepening cultural and trade relations among Asian and South American countries.
*Competitive Landscape*
*Cooperative Agreements and Measured Expansions to Spur Competition*
With Pisco gaining widespread popularity, grape producers and alcohol companies in Chile and Peru are seeking agreements that can help farmers as well as key market players. These mutually beneficial deals are crucial as they provide incentives to key players to innovate and expand their operations, while farmers are encouraged to produce more and adopt modern farming technologies.
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*Major Table of Content:*
· *Introduction*
· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions
· *Executive Summary*
· *Market Dynamics*
· Market Drivers
· Market Restraints
· Market Opportunities
· Emerging Trends
· *Key Insights*
· Overview of the Related/Parent Market
· Global Alcoholic Beverages Market
· Global Brandy Consumption Trends
· Global Pisco Trade Analysis
· Supply Chain & SWOT Analysis
· Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
· Market Analysis and Insights (in Relation to COVID-19)
· Impact of COVID-19 on the Market
· Supply Chain Challenges Due to the Pandemic
· Potential Opportunities to Support the Sales during the Calamity
· *Global Pisco Market Analysis, Insights and Forecast, 2016-2027*
· Key Findings / Summary
· Market Size Estimates and Forecast
· By Type
· Puro
· Acholado
· Others (Aromaticas, Mosto Verde)
· By Origin
· Peruvian
· Chilean
· By Region
· North America
· Europe
· Asia Pacific
· South America
· Middle East & Africa
*To Be Continued…!*
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*Industry Developments:*
· *June 2020: T*he Cooperativa Agrícola Pisquera Elqui Ltda. (Capel) and the Instituto de Desarrollo Agropecuario (Indap)* *renewed their Agreement of the Productive Alliance. Under this renewal, 76 small pisco grape farmers in the Limarí and Choapa provinces of Chile will have assured access to technical expertise for modern irrigation and environmental practices.
· *May 2019: *Catan Pisco announced its expansion in Los Angeles, following the company’s establishment in Chicago in 2018. The company will mark its presence with a celebratory event at the Museum of Latin American Art in Long Beach.
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