Distilled Spirits Market to Signify Strong Growth by 2024-2031

Distilled spirits market is estimated to grow at a CAGR of 3.3% during the forecast period. The global distilled spirits industry valued at $384.2 billion in 2018 and is estimated to reach $478.4 billion in 2025. There has been a gradual shift of consumers’ preference from beer and wine to spirits; as well as from illicit alcohol across Africa, which is a long-term trend. By volume, spirits are 53% of total alcoholic beverages, up from 48% in 2009. For instance, gin is a category benefiting from switching, starting in Europe and now accelerating in markets such as Australia, South Africa, and Brazil. In Brazil, consumer spend on the gin category has grown over 100% a year in the last five years. Due to this, the company has driven growth through the Tanqueray brand. 

The adoption of distilled spirits is being significantly driven by the rising purchasing power of consumers and increasing demand for beverages with natural flavours. The spirits sector is led by millennials and the young-age population who demand innovative and higher-end products. Therefore, the companies are adding natural flavors to improve the quality of the flavour of alcoholic drinks. Currently, there is a wide range of flavours available for use in spirits, beer, cider, and wine. Distilled spirits are flavoured utilizing herbs, fruits, chocolates, botanicals and spices, to offer special taste in their alcoholic beverages and meet customers’ requirement. The increasing availability of distilled spirits with innovative natural flavours is leading to a significant range of options for consumers that allows consumers to opt for the alcoholic beverage of their choice.

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 Distilled Spirits Market Segmentation

By Type

• Whiskey
• Vodka
• Rum
• Gin
• Tequila
• Brandy
• Others

By Distribution Channel

• Online
• Offline

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Regional Analysis

North America

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

Company Profiles

• Anheuser-Busch InBev
• Asahi Group Holdings, Ltd.
• Bundaberg Brewed Drinks Pvt. Ltd.
• Carlsberg Breweries A/S
• Constellation Brands Inc.
• DGB (Pty) Ltd.
• Diageo PLC
• Halewood International, Ltd.
• Heineken Holding N.V.
• Kirin Holdings Co. Ltd.
• Kweichow Moutai Co., Ltd.
• Molson Coors Brewing Co.
• Pernod Ricard S.A.
• SABMiller PLC
• Suntory Holdings, Ltd.
• Thai Beverage PLC
• The Boston Beer Company, Inc.
• Tsingtao Beer (H.K.) Trading Co., Ltd.
• United Breweries, Ltd.
• Wuliangye Yibin Co., Ltd.

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