Alcoholic drinks witnessed strong growth in total volume terms in 2022 despite the economic difficulties facing many consumers in Guatemala, some of whom rely on economic support from family living in the US. Sales of alcoholic drinks in Guatemala benefited from the continued recovery of the on-trade channel as COVID-19 fears subsided and restrictions were lifted in 2022.
Despite the prevailing economic uncertainty and high inflation, alcoholic drinks still witnessed a degree of premiumisation in 2022. High income consumers showed strong demand for premium brands in different categories such as whiskies (imported brands as Glenlivet), tequila and wine, among others.
Alcoholic drinks continues to be dominated by local players Industrias Licoreras de Guatemala SA in spirits and by Cervecería Centroamericana SA in beer and RTDs. AmBev Centroamerica SA remains the leading international player thanks to its strong presence in beer.
Both modern and traditional channels saw steady growth in volume terms in 2022. Small local grocers dominates the sale of other spirits and beer, while modern grocery retailers also offer these products but play a stronger role in spirits, RTDs and wine.
The on-trade channel saw a further recovery in Guatemala in 2022, with hotels, restaurants and bars seeing a significant increase in custom, with more than 300 new formal restaurants opening since November 2021. 2022 was a year without lockdowns and mobility restrictions, and a year were consumers saw an almost complete return to their normal pre-pandemic lifestyles.
Despite economic stressors and the impact of global inflation, consumers from all income groups continue to consume alcoholic drinks with little sign of this situation changing. As such, it is expected that alcoholic drinks will continue to deliver strong and steady growth in total volume terms despite the presence of numerous challenges.
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Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.See All of Our Definitions
This report originates from Passport, our Alcoholic Drinks research and analysis database.
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