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GlobalData Plc: Rising Disposable Income to Fuel Global Spirits Market Growth

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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

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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 Period2021-2026
Key CategoriesBrandy, Flavored Alcoholic Beverages, Gin & Genever, Liqueurs, Rum, Specialty Spirits, Tequila & Mezcal, Vodka, and Whiskey
Key RegionsAsia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe
Key Distribution ChannelOff-trade and On-trade
Leading CompaniesDiageo 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.

Related Reports

  • Opportunities in the Eastern Europe Spirits Sector – Click here
  • Opportunities in the Americas Spirits Sector – Click here
  • Opportunities in the Asia-Pacific Spirits Sector – Click here
  • Opportunities in the Western European Spirits Sector – Click here
  • Argentina Vodka (Spirits) Market Size, Growth and Forecast Analytics to 2025 – Click here

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