Mexico Vodka Market Overview, 2028

Mexico is a culturally diverse country, and its drinking culture reflects this diversity. Vodka is often associated with the vibrant nightlife scene in Mexico. Many young adults and tourists enjoy going to bars, clubs, and lounges where vodka is a common spirit of choice. It is often consumed in social settings, such as parties and gatherings, where people come together to enjoy drinks and socialise. It is often used as a base spirit for cocktails in Mexico. Popular vodka-based cocktails include the Moscow Mule, Vodka Martini, and Cosmopolitan. Many bars and clubs in Mexico offer a wide variety of vodka-based cocktails to cater to different tastes and preferences. The country hosts various festivals and events dedicated to alcoholic beverages, including vodka. These events provide opportunities for vodka producers to showcase their products, offer tastings, and engage with consumers. They also contribute to the overall promotion and awareness of vodka in the Mexican market. La Feria Nacional del Mezcal, the Wine and Food Festival Cancun-Riviera Maya, the Mexico City Wine and Food Festival, Puerto Vallarta Tequila, and the Mariachi Festival are various events regarding food and beverages. Vodka is sometimes used in culinary applications in Mexico. It can be incorporated into dishes or used as an ingredient in sauces, marinades, or dressings. This usage highlights the versatility of vodka beyond just being a beverage. According to the research report "Mexico Vodka Market Overview, 2028," published by Bonafide Research, the Mexico vodka market is expected to grow at above a 7.03% CAGR from 2023 to 2028. Traditional unflavored or classic vodka remains popular in Mexico. This type of vodka is often preferred by consumers who enjoy the clean, neutral taste of vodka and prefer to use it as a base spirit for cocktails. Flavoured vodkas have gained popularity in Mexico as well. These vodkas are infused with various flavours, such as citrus, berry, vanilla, and caramel. Flavoured vodkas offer a wide range of options for consumers who enjoy a more distinct and enhanced taste profile in their drinks. Standard vodka brands, which are typically more affordable and widely available, tend to have a larger market share in Mexico. These brands offer a good value proposition and are often favoured by consumers who prioritise price over other factors. Premium vodkas, on the other hand, have gained popularity among consumers who are willing to spend a bit more for a higher-quality drinking experience. These vodkas are often associated with smoother textures, premium ingredients, and craftsmanship. Premium vodkas are chosen for special occasions, celebrations, and when consumers are seeking a more refined vodka experience. In Mexico, there are several major vodka brands available on the market. Absolut, Smirnoff, Stolichnaya (Stoli), Belvedere, Absenta 95, and Ciroc are among them. In Mexico, the primary act that regulates the production, distribution, and sale of alcoholic beverages, including vodka, is the Federal Law of Alcoholic Beverages (Ley Federal de Bebidas Alcohólicas). This law sets out the legal framework for the alcohol industry and establishes the regulatory requirements and obligations for producers, distributors, and retailers. The Federal Law of Alcoholic Beverages covers various aspects related to the manufacturing, importation, labelling, advertising, and commercialization of alcoholic beverages. It establishes guidelines for the production processes, quality standards, alcohol content, and health and safety requirements. Additionally, each state in Mexico may have its own specific regulations and legislation that complement the federal law. These state-level regulations may include additional requirements and restrictions on the sale, distribution, and consumption of alcoholic beverages within their jurisdiction. Dedicated liquor stores or specialty stores are popular channels for purchasing vodka. These stores typically offer a wide selection of alcoholic beverages, including various brands and types of vodka. La Europea, Vinoteca, La Licorera, and Licores Garca are liquor stores in Mexico. Walmart, Soriana, Chedraui, Superama, and Costco are supermarkets, and hypermarkets are large retail establishments that offer a wide range of alcoholic beverages. Online platforms like Superama, Vinoteca, and La Europea's website offer online sales of vodka, providing customers with the convenience of shopping from home. Furthermore, duty-free shops at airports, such as Aeroméxico Duty-Free or Dufry, offer a selection of vodka brands for travellers to purchase before or after their flights. Similar to global trends, there is an increasing demand for premium vodka brands in Mexico. Consumers are willing to pay more for higher-quality and premium offerings, seeking a sophisticated drinking experience. Craft vodkas and artisanal options are also gaining popularity among consumers looking for unique and locally produced spirits. Furthermore, vodka faces competition from traditional Mexican spirits such as tequila and mezcal, which hold strong cultural significance in Mexico. However, vodka has carved out its own niche in the market and appeals to consumers who prefer its taste, versatility, and mixing capabilities. The Mexican vodka market is influenced by global trends and popular culture. Marketing campaigns, endorsements, and the influence of celebrities play a role in shaping consumer perceptions and preferences. Mexican consumers are increasingly experimenting with new and innovative cocktails, expanding beyond traditional Mexican beverages. This shift in drinking habits has contributed to the growing demand for vodka as a base spirit for mixing cocktails and exploring new flavour combinations. The presence of counterfeit vodka on the market can pose challenges for both consumers and legitimate vodka producers. Counterfeit products not only undermine brand reputation but also raise concerns regarding product safety and quality. Furthermore, economic conditions and fluctuations in consumer spending can impact the vodka market. In times of economic downturns or recessions, consumers may reduce discretionary spending, including on premium vodka brands. Considered in this report

• Geography: Mexico • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Mexico Vodka Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Product Type • Plain Vodka • Flavored Vodka By Quality

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• Standard • Premium • Ultra-Premium By Sales Channel • On trade • Off trade By Age Group • 18 to 28 • 29 to 38 • 39 to 48 • 48 + The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analysing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Vodka Market, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.