Global Distilled Spirits Market to Surpass US$ 36.47 Billion by 2025, Fuelled by Rising Demand from Emerging Nations Including Brazil, Russia, India and China (BRIC) - Coherent Market Insights
Published On : Nov 01, 2017
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). 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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Browse 110 market data tables* and 70 figures* on "Distilled Spirits Market” - Global forecast to 2025.
Key Trends and Analysis of Distilled Spirits Market:
Based on product, the vodka segment held a dominant position in the global distilled spirits market in 2016 and is expected to maintain its dominance throughout the forecast period. This is majorly due to the increasing demand for the premium and super-premium categories of vodka. The quality of water used in the manufacturing process determines the quality of vodka. The premium vodkas is made from superior-quality water, which differentiates them from the regular varieties. Furthermore, high consumption of whiskey in India and Brazil is anticipated to record the highest per capita consumption, worldwide, during the forecast period.
Key Takeaways of the Market:
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