South Africa: Market Opportunity for U.S. Distilled Spirits
Despite recent economic challenges including a weakening rand and decreasing disposable incomes, South Africans have demonstrated a growing interest in quality distilled spirits and an appreciation for premium brands perceived as status symbols. In 2014, South Africa’s imports of distilled spirits totaled nearly $346 million, with the United States ranked third among South Africa’s suppliers at 8.34 percent market share. U.S. exports of distilled spirits to South Africa totaled approximately 4.8 million liters in 2014, valued at $28.8 million. This represents a growth of 34 percent from 2013 imports. The Retail sector accounts for the vast majority of distilled spirits sales in South Africa at 69 percent of the market by volume, and a faster rate of sales growth than the HRI sector. With concerted marketing efforts, U.S. distilled spirits are well-placed to benefit from the South African demand for high-value alcoholic beverages
