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Spirits are also much known as the distilled beverage is also very well known by liquor, hard liquor or even as hard alcohol. This alcoholic beverage is the result of the alcoholic fermentation, which is obtained after the distillation process. The process of purification and removal of diluting components like water is known as distillation. The distillation process also results in increasing the proportion of alcoholic content in the beverage. On the basis of alcoholic content, the normally the beverages having more than 15% alcoholic content is referred to as the distilled beverages. Some examples of this are vodka, rum and whisky.
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Market Overview: the global spirit market comprises of the alcoholic beverage products like rum, vodka, brandy, cane and natural spirits along with different types of flavored spirits. Among all this, whisky is leading the global spirits market and is followed by vodka. Talking about the consumption of spirits market, globally, Asia –Pacific region rules the market and is titled as the number 1 consumer of distilled beverage or hard liquor. The second position is grabbed by North America which rules over Europe. The demand of this alcoholic beverage has increased because of its increased consumers from different age groups. However, the stats of the global spirit market also suggest that this market is flourished because of the majority of consumers whose age is in between 25-44 years.
Global Spirit Market Trends
Over the course of time, the global spirit market has faced a recession, due to which a very small or slow growth is noticed in this market. However, with the passage of time the global spirit market has recorded a steady growth in the year, 2013, where the market was blossomed with the new emerging spirit producing nations, like, Brazil, India, Russia; mostly the BRIC countries. Addition to it, the consumer’s choice also plays an important role, as they pay more for the premium branded spirits. Another factor of increasing the demand is also because of the innovative ad campaigns, which are influencing consumer.
Scope: the global spirit market comprises of the major types of spirits and followed by its annual production, globally. On the other hand, the historical revenue and the market forecast from the year 2016 to 2020 also ensures its role in the market and thus helps in deep study of spirit consumer and its role in the changing lifestyles.
CAGR: The global spirit market is forecasted to reach from 113.6 billion US dollars to 135.6 billion US dollars by the end of the year 2020; with the effective compound annual growth rate of 3.1%, which can be noticed with a change of ± 0.6%.
Demand: the global spirits market’s demand is mostly effective with the demands of its different types of alcoholic beverages, as follows:
- Whisky: it is the result of distillation process, which is the by-product of the fermentation of the grain mesh. The growth curve of this fermented spirit has recorded a growth in its production by 3%, among which the Indian bourbon, US whiskies, Irish whiskies are famous ones. The major brands of whisky producer accounts to Jack Daniel, Johnnie Walker, Jameson Irish, Canadian Club, Suntory.
- Vodka: this spirit is the result of mixture of ethanol, along with impurities and flavorings. Traditionally, this was manufactured by the distillation process of fermented cereal grains or even potatoes. The global vodka market has been recorded with a slight decrease in its demand. The demand of this alcoholic beverage is decreased by 5% than then previous years. It might be because of the pricing and legislative changes. The major vodka producers are Grey Goose, Crystal Head Vodka, Finlandia, Stolichnaya and Absolut Vodka.
- Rum: it is the distilled spirit obtained from the by-product of sugarcane, like molasses. It can also be manufactured directly from sugarcane. The demand of rum was noticed with a growth of 0.7% in the previous years. The main rum producing companies are Tanduay Rum followed by the Mc Dowell’s no 1 celebration, Captain Morgan Original Spiced Rum and Havana Club.
- Brandy: this alcoholic beverage is the result of distillation of pomace or mash. The consumers of brandy have increased its demand and thus, the brandy producers are also increasing rapidly from China, Africa and even Middle East countries. The main barndy producers around the world are Mc Dowells, Alambic, Camus, E&J and Courvoisier.
Global Spirit Market Segment
Market Segment by Regions revenue: the main revenue generator of global spirit market is United Kingdom, whose revenue is recorded to be 19316 million US dollars, followed by the France, Germany, Spain and Poland.
Regional market share size
Strategy Benchmarking Analysis
Value chain analysis
Market Effect Factors Analysis
Demand and Supply
Market opportunities and threats
Strengths and weaknesses
Global Spirit Market Forecast:
Historical Revenue (in Million USD) from 2011 to 2015: the revenue of the global spirit market has kept on increasing with time. In the year, 2011, the total revenue collection was recorded to be 94.31 billion US dollars. However, which gradually got accelerated to 98.32 billion US dollars in 2012. In the year 2013, the revenue collected, globally, was 103.22 billion US dollars, which crossed 107.9 billion US dollars in the next year. Finally, the revenue of the global spirit market was recorded to be 113.78 billion US dollars in the year 2015.
Market Forecast (in Million USD) from 2016 to 2021, what will the growth rate be and market size be in 2021, Future market trends.
Reasons and References: If it is taken from online. Video link, and (As per the current market and historical trends we can expect that …..