Barley is primarily cultivated to produce malt which is further processed and used in the production of beer. Barley malt provides color, flavor, and body to beer. Barley is also used as animal feed. The growing beer industry across Latin America especially in Brazil and Mexico is fueling the demand for barley. The global Latin America Barley Market is estimated to be valued at US$ 3.44 billion in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing beer consumption in Brazil and Mexico is one of the major drivers of the Latin America barley market. Brazil is the third largest beer consuming country globally with per capita consumption of over 80 liters annually. Similarly, beer consumption is also growing significantly in Mexico at a CAGR of over 3% during the past few years. This rising beer demand is prompting barley cultivation and imports in these countries to cater to the needs of their brewing industry. Moreover, the growing young population and rising disposable incomes in the region are expected to further contribute to elevated beer consumption driving the Latin America barley market during the forecast period.
SWOT Analysis
- Strength: Grain crop Limi has strong presence in Latin America region and access to established distribution channels.
- Weakness: Barley production is majorly dependent on climate and weather conditions which can impact yield.
- Opportunity: Rising demand for barley from brewing industry due to growing beer consumption provides growth opportunity.
- Threats: Threat of substitute crops and fluctuation in barley prices poses challenges
Key Takeaways
The global Latin America Barley Market is expected to witness high growth.
Regional analysis: The Latin America region dominates the barley market with Mexico being the largest producer. Countries like Argentina and Brazil are also emerging as major barley cultivating nations in the region supported by favorable agro-climatic conditions.
Key players operating in the Latin America Barley market are Grain crop Limi.
