Global Distilled spirits market was valued at US$ 25.04 Billion in 2016, according to Global Distilled Spirits Market Report by Product (Whiskey, Vodka, Rum, Gin, Tequila, Brandy and Others), by Distribution Channel (Supermarkets, Hypermarkets, Specialty Stores, Drug Stores, Online and Others), published by Coherent Market Insights. The distilled spirits market is expected to register a CAGR of 4.36% over the forecast period (2017-2025) to reach US$ 36.47 Billion by 2025.
The major factors propelling the growth of this market include rising young and adult demographic coupled with the substantial growth in disposable income of the consumers. Thus, making higher quality premium brands of vodkas affordable and popular among the consumers. Furthermore, the rising demand for the domestic vodka is propelling the market growth of distilled spirits. Unflavored and flavored variants of domestic brands including, Burnett from Heaven Hill Brands and E&J Gallo’s New Amsterdam vodka are gaining popularity worldwide thereby, supporting the market growth.
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