Future of Pisco Market to be at $1,173.6 Million Opportunity, CAGR 6.3% Forecast 2021 to 2030

According to a new report published by Allied Market Research, titled, "Pisco Market by Origin, Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030," The global pisco market size was valued at $558.5 million in 2020, and is projected to reach $1,173.6 million by 2030, registering a CAGR of 6.3% from 2021 to 2030. In 2020, the Chile segment accounted for the highest share in the pisco market. Pisco is highly produced in the region of Chile and Peru as an alternative to orujo, a pomace brandy that was being imported from Spain since the 16th century.

Global Leaders:-

The key players profiled in pisco industry include Barsol Pisco GmbH, Bauza, Bauza, Compañía de las Cervecerías Unidas S.A, Cooperative Agricola Pisquera Elqui ltda, Macchu Pisco LLC, Pisco Malpaso, Pisco Porton, Pisquera Tulahuen SpA, and The Pisco People.

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In various regions around the world, alcoholic drinks have become an integral part of daily life. In some countries, such as the US, Canada, and Europe, they are often considered as part of the daily life of the people. The rise in social acceptance of female drinking is one of the main factors that is driving the alcohol-based market. Younger population is also influenced by their peers. Due to various factors such as increasing social media penetration, changing lifestyle, and higher family income, alcoholic products are more preferred by consumers. This is expected to continue to drive the pisco market growth.

Moreover, due to the rapid pace of technological change in the food and beverage industry, many companies are shifting their R&D efforts away from their headquarters. Due to the increasing number of products that are better than their rivals, the focus on R&D will increase. This is also expected to improve the sales of pisco.

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According to the pisco market analysis, the market is segmented on the basis of origin, type, sales channel, and region. By origin, it is divided into Peru and Chile. On the basis of type, the market is split into Pisco Puro, Mosto Verde, and others. Based on sales channel, the supermarket/hypermarket segment generated the highest revenue in 2020.

The on trade sales channel such as supermarket, specialty stores of pisco have nosedived across the world, owing to the closure of HORECA industry across the world. Furthermore, recent development in resurgence of the second wave of coronavirus in Europe and North America is one of the major challenges the industry is expected to face in the coming days.

Latin America accounted for over 55.3% of the Pisco market share, and is anticipated to maintain its dominance throughout the pisco market forecast period. Pisco market has been provided for all the four regions covered in the report. Countries analyzed under the North American geographical segment are the U.S., Canada, and Mexico. Under Europe, market size and forecast are provided for the UK, Germany, France, Italy, Spain, Russia and rest of Europe.

Countries covered in Asia-Pacific include Japan, China, Australia, India, South Korea, Indonesia, Thailand, and rest of Asia-Pacific. Japan, China, and Australia are the leading markets for Pisco in the region. LAMEA includes Brazil, Argentina, Chile, Peru, South Africa, UAE, and rest of LAMEA.

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Key findings of the study

By form, the capsule & tablets segment held the highest share, accounting for 56.1% of the global Pisco market.

Based on nature, the organic segment witnessed a major growth rate of 12.8%.

Based on end use industry, food & beverage segment held the major share of 48.2% of the Pisco market.

Based on distribution channel, business to business segment witnessed a major annual growth rate of 12.9%.

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