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GlobalData Plc: Rising Disposable Income to Fuel Global Spirits Market Growth
The global spirits market size was valued at $783.5 billion in 2021
LONDON, June 01, 2022 (GLOBE NEWSWIRE) -- The spirits market is expected to grow at a CAGR of more than 6% during the forecast period. Rising disposable income coupled with decreasing unemployment rates is driving the demand for spirits globally. Also, more consumers are now concerned about immunity and overall wellbeing, owing to the COVID-19 pandemic. As a result, they are actively moderating their intake of alcohol to maintain their health, which is driving the demand for “low alcohol by volume (ABV)”, “low-calorie”, or “low-sugar” spirits. This is creating more opportunities for spirits drinks with health claims.
The Global Spirits Market Research Report offered by GlobalData Plc brings together multiple data sources to provide a comprehensive overview of the market environment, high-potential countries’ analysis, country deep dive, success stories, competitive environment, distribution analysis, packaging analysis, and challenges and future outlook.
For more insights on the global spirits market forecast, download a free sample
Global Spirits Market Trends
Developments in the organic and natural spirits sector will lead to brands adopting localized flavors by infusing locally foraged botanicals. Moreover, consumers generally perceive organic and local ingredients to be of high quality and healthier. Considering this, Suncliffe, LLC announced the launch of a botanical spirit, in Arizona, highlighting the usage of local plant species. As a result, brands with local organic ingredients are expected to gain traction.
Spirits Market Segmentation by Region
Asia-Pacific
Middle East & Africa
Americas
Western Europe
Eastern Europe
Spirits Market Analysis, by Regions
For more regional insights, download a free sample
Spirits Market Segmentation by Category
Brandy
Flavored alcoholic beverages
Gin & genever
Liqueurs
Rum
Specialty spirits
Tequila & mezcal
Vodka
Whiskey
Spirits Market Analysis, by Categories
For more category insights, download a free sample
Spirits Market Segmentation by Distribution Channel
Of-trade
Hypermarkets & supermarkets
Convenience stores
E-retailers
Food & drinks specialists
Others
On-trade
Global Spirits Market Analysis, by Distribution Channels
For more distribution channel insights, download a free sample
Leading Companies in the Global Spirits Market
Diageo plc
Suntory Holdings Ltd
Pernod Ricard
Mark Anthony Brands International Unlimited Company
Hite Jinro Co. Ltd.
Spirits Market Analysis, by Companies
To know more about leading spirits companies, download a free sample
Global Spirits Market Overview
Market size 2021 | $783.5 billion |
CAGR | >6% |
Forecast Period | 2021-2026 |
Key Categories | Brandy, Flavored Alcoholic Beverages, Gin & Genever, Liqueurs, Rum, Specialty Spirits, Tequila & Mezcal, Vodka, and Whiskey |
Key Regions | Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe |
Key Distribution Channel | Off-trade and On-trade |
Leading Companies | Diageo plc, Suntory Holdings Ltd, Pernod Ricard, Mark Anthony Brands International Unlimited Company, and Hite Jinro Co. Ltd |
Global Spirits Market Report Scope
Provides an overview of the current industry scenario regarding the future outlook in terms of ingredients, product claims, labeling, and packaging.
The analysis also covers regional overview across five regions – Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe – highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.
Reasons to Buy
Manufacturing and retailers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail.
This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region
The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape, and demographic analysis, that can help companies gain insight into the country-specific nuances
The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region and can help companies in revenue expansion
To gain competitive intelligence about leading brands in the spirits sector in the region with information about their market share and growth rates
FAQs
What was the global spirits market size in the year 2021?
The global spirits market size was valued at $783.5 billion in 2021.
What is the global spirits market growth rate?
The global spirits market is expected to grow at a CAGR of more than 6% during the forecast period.
Which are the key regions in the global spirits market?
The key regions in the global spirits market are Asia- Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe. Asia-Pacific represented the largest region for the global spirits sector in 2021.
Which are the key categories in the global spirits market?
The key categories in the global spirits market are brandy, flavored alcoholic beverages, gin & genever, liqueurs, rum, specialty spirits, tequila & mezcal, vodka, and whiskey. In the year 2021 specialty spirits had the highest market value.
Which are the key distribution channels in the global spirits market?
The key distribution channels in the global spirits market are off-trade and on-trade.
Which are the leading companies in the global spirits market?
Some of the leading spirits companies are Diageo plc, Suntory Holdings Ltd, Pernod Ricard, Mark Anthony Brands International Unlimited Company, and Hite Jinro Co. Ltd.
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