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Region : Global | Published Date: Upcoming | Report ID: FBI100203| Status : Upcoming
The current growth trajectory of alcoholic spirits market is expected to rely heavily on the innovation factor – the emergence of flavorful versions of spirits available in the Horeca sector is the single most determining factor for their sustainable sales. Pisco, a South American grape-based brandy that is produced specially in Peru and Chile is one such spirit that is gradually gaining momentum owing to its sensory profile, medicinal benefits, and its traditional origin.
Pisco is a type of brandy that does not undergo grinding, dilution with water or aging, in order to maintain the aromatic compounds derived from grapes, fermentation, and distillation. The spirit has a fruity base with eight different varieties of grapes being utilized to distill pisco in Peru. The chilean pisco on the other hand, may contain upto thirteen varieties of grapes.
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The decent growth of travel and tourism coupled with the substantial boost to hospitality sector has brought pisco to the forefront in Peru and Chile – the foodservice channels are playing a major role in furthering the growth momentum by utilizing Pisco as the main ingredient in a variety of cocktails. The local governments in Peru has recently embarked on developing a specialized tourism model around pisco – such initiatives are bound to boost the market sentiments of this spirit along with enhancing its global exposure.
Some of the key companies that are present in the global pisco market are Pisco Portón, Macchu Pisco, Barton Solvents, Inc., and La Diablada Pisco. Some of the companies popular for Chilean pisco include Cooperativa Agrícola Pisquera Elqui Limitada (CAPEL), Compañía Pisquera de Chile S.A., Bauzá, Hacienda Mal Paso, Pisco MalPaso, and Pisquera Tulahuén.
· Peruvian Pisco
· Chilean Pisco
· Mosto verde
· North America (U.S., and Others)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· South America (Brazil, Peru, Chile, and Rest of South America)
· Rest of the World
Peruvian Pisco has been leading segment in terms of the source, Chile and the U.S. are two major consuming countries of Peruvian Pisco. The spirit also has been gaining strong grounds in the local markets of Peru as it is the third most consumed alcoholic drink, following beer and wine. Chilean Pisco is primarily consumed within the country itself and holds a great export potential provided that the conscious efforts are undertaken from the governments on the similar lines of Peru. Pisco production in Peru has grown at a CAGR of 5.4% during the period from 2009 to 2014.
The Puro is a leading segment of Pisco owing to its sensory characteristics – the full, rich flavors along with its stand-alone consumption sets it apart from the other types of Pisco. Puros are the most popular category in Peru and are made entirely from a single grape varietal.
Booming tourism in countries such as Thailand, UAE, Spain, and Italy are strongly embracing the pisco drinking culture. Nonetheless, the demands from origin countries is expected to witness a more significant surge with the influx of tourists and the increasing popularity of pisco-based cocktails in on-trade platforms such as bars, restaurants, coffee shops, clubs, hotels, etc. The U.S. and European region are expected to remain major exporting hubs of Pisco owing to their favorable consumption scenario – both the marketplaces recognize pisco as hailing from both Peru and Chile.