Global Cachaca Market Size To Exceed USD 2.72 Billion By 2033 | CAGR of 9.48%
Category: Food & BeveragesGlobal Cachaca Market Size To Exceed USD 2.72 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Cachaca Market Size is Expected to Grow from USD 1.10 Billion in 2023 to USD 2.72 Billion by 2033, at a CAGR of 9.48% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the "Global Cachaca Market Size, Share, and COVID-19 Impact Analysis, By Type (Unaged [White/Silver] and Aged [Yello/Gold]), By Application (Food and Beverage Industry, Medical Industry, Pharmaceutical Industry), By Distribution (Supermarket & Malls, E-commerce, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/cachaca-market
The cachaça industry describes the international business engaged in the manufacture, distribution, and use of cachaca, a distilled Brazilian alcoholic drink produced from sugarcane juice. Cachaça is usually likened to rum, but it differs in that it uses fresh sugarcane juice and not molasses, producing a distinctive taste. Moreover, the global rise in cocktail culture is one of the key drivers for the cachaça market. As more and more people take to cocktails such as Caipirinha, cachaça has emerged as a key ingredient in popular bars and restaurants around the world. Bartenders and mixologists appreciate cachaça for its distinct taste, which can be applied to many cocktail recipes. Its flexibility has made it an ever more sought-after product for creative cocktail-making globally. However, though well-liked in Brazil, cachaça remains little known elsewhere in the world. Compared to other spirits such as rum, vodka, and whiskey, cachaça is not well-known with brands, which may retard its global expansion.
The unaged segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the cachaca market is divided into unaged and aged. Among these, the unaged segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to the unaged cachaça is the main component of the renowned Brazilian cocktail Caipirinha, the popularity of this cocktail greatly increases the demand for unaged cachaça.
The food and beverages industry segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the cachaca market is divided into the food and beverage industry, medical industry, and pharmaceutical industry. Among these, the food and beverages industry segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to the global trend towards craft spirits and increasingly distinctive, authentic drinking experiences, which has generated growing interest in premium and artisanal cachaça. The craft cocktail movement has driven demand for high-quality cachaça as bartenders and mixologists innovate with new drink recipes.
The supermarket & malls segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the cachaca market is divided into supermarket & malls, e-commerce, and others. Among these, the supermarket & malls segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is driven due to shoppers tend to purchase alcohol in stores where they can check the product, compare brands, and make the purchase immediately. Supermarkets and shopping malls provide an easy, straightforward purchasing experience, which suits buyers who want to have their cachaça taken home instantly.
North America is expected to hold the majority share of the global cachaca market during the forecast period.
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North America is expected to hold the majority share of the global cachaca market during the forecast period. A large Brazilian diaspora in the United States assists in keeping a robust market for cachaça. Brazilian expatriates tend to remain loyal to their home country's drink, and the cultural affinity assists in spreading the word about and growing demand for cachaça.
Europe is anticipated to grow at the fastest pace in the global cachaca market during the forecast period. Europe already has a well-developed market for premium and craft spirits, including high-quality, aged, or artisanal cachaça. European consumers are willing to pay a premium for distinctive, well-made spirits that provide something different from typical European liquors such as vodka or rum. Demand for premium cachaça brands has propelled its fast expansion in the European market.
Major vendors in the global cachaca market are Da Quinta, Leblon Cachaça, Cuca Fresca Spirit, BORCO company, Novo Fogo, Pituetc, IRB Tatuzinho 3 Fazendas Ltda. And Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In August 2023, Novo Fogo unveiled this all-natural spirit flavored with Brazilian passion fruit, collaborated with music duo SOFI TUKKER. It marries bright tropical flavors with the brand's Silver Cachaça, hoping to appeal to both new and old cachaça fans.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the cachaca market based on the below-mentioned segments:
Global Cachaca Market, By Type
- Unaged
- White
- Silver
- Aged
- Yello
- Gold
Global Cachaca Market, By Application
- Food and Beverage Industry
- Medical Industry
- Pharmaceutical Industry
Global Cachaca Market, By Distribution Channel
- Supermarket & Malls
- E-commerce
- Others
Global Cachaca Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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