Theincreasing consumption of fermented drinks is expected to contribute towardsthe global Pisco market. Fortune Business Insights has recently announced areport, called” PiscoMarket Size, Share and Global Trend by Origin Type (Peruvian Pisco,Chilean Pisco), Type (Puro, Aromaticas, Acholado, Mosto verde) and GeographyForecast till 2026.” The report classifies the global market in varioussegments.
In termsof origin, Peruvian Pisco segment was dominating the market in 2018. Thesegment is likely to expand at a promising rate during the forecast period2019-2025. The spirit is very popular in the home land. Peruvian Pisco is thethird most consumed alcohol drink in Peru. This is anticipated to increase thegrowth rate in the market.
Moreover,the U.S. and Chile are the two leading nations in Peruvian Pisco consumption.The consumption in these nations is likely to increase in response to therising popularity of Peruvian Pisco. Chilean Pisco segment is anticipated towitness impressive growth. The drink is very popular in the origin land alsothe consumption of the drink in very high in the home land. Moreover, thespirit holds a strong potential for exports. Such factors are expected tocontribute towards the market expansion.
IncreasingTourism Activities to Propel Growth in Global Market
The Piscomarket in Asia Pacific is likely to expand at a promising CAGR. The increasingtourism trend in asian nations such as Thailand, India, and Others is likely tocontribute towards the market growth. Additionally, the increasing consumptionof Pisco in cocktail drinks, bars, and restaurant is expected to increase thedemand for Pisco.
The U.S.and Europe are highly involved in exports of Pisco. The consumption of Pisco isalso increasing in Peru, owing to increasing tourism in the nation. This isexpected to drive the global Pisco market over the forecast period.
The boostin the hospitality sector and increasing growth in the tourism and travelsector are a few factors expected to drive the global Pisco market.Furthermore, the government of Peru is initiating a project to build aPisco-based tourism spot in the country. The global Pisco market is anticipatedto have major gains from the tourism spot and in response the demand for Piscowould increase.
Lack ofavailably of Pisco in certain areas is a factor that may restrain the globalmarket. Besides this, low awareness about Pisco is a factor expected to hamperthe growth over the forecast period.
JapanAssociation to Enable Growth in Market
In 2019the Japan Pisco Association was established. The association is established topromote and raise awareness about the drink in the nation by adoptinginnovative strategies. This is expected to increase the growth in the globalmarket.
Theglobal Pisco market is expanding at a promising CAGR. Key players in the marketare focusing on product development to gain higher share in the market. Someplayers are also involved in mergers and acquisitions. Some of the keycompanies operating in the global Pisco market are Pisco Portón, Macchu Pisco,Barton Solvents, Inc., and La Diablada Pisco.
Gain MoreInsights into the Pisco Market Research Report
https://www.fortunebusinessinsights.com/industry-reports/pisco-market-100203
