Global Spirits Market Trends And Strategies Of Major Players In The Spirits Market 2021-2030
7 Apr, 2021
The spirits market consists of sales of potable liquors, ethyl alcohol, grain alcohol and spirits by entities (organizations, sole traders and partnerships) that distil and blend liquors. The companies in the distilleries industry process raw materials into potable liquors, ethyl alcohol, grain alcohol and spirits, package and distribute them through various distribution channels to both individual customers and commercial establishments.
Global Spirits Market Size And Drivers:
The global spirits market is expected to grow from $143.31 billion in 2020 to $150.87 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The market is expected to reach $208.84 billion in 2025 at a CAGR of 8%. Increase in population creates more demand for alcoholic beverages.
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Trends In The Global Spirits Market
Spirits manufacturers are now offering ready-to-mix hybrid beverages to cater to changing consumer tastes and preferences. Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories. They are prepared by using unique flavor combinations, ingredients and production methods from multiple drinks.
Global Spirits Market Segments:
The global spirits market is further segmented based on type, distribution channel, category and geography.
By Type: Whiskey, Vodka, Rum, Tequila, Gin, Other Spirits.
By Distribution Channel: Off-Trade Channels, On-Trade Channels.
By Category: Mass, Premium.
Subsegments Covered: Single Malt, Other Whiskey.
By Geography: The global spirits market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global spirits market, accounting for 58% of the total market.
Read More On The Report For The Global Spirits Market At:https://www.thebusinessresearchcompany.com/report/spirits-global-market-report
Spirits Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides spirits market overviews, analyzes and forecasts market size and growth for the global spirits market, spirits market share, spirits market players, spirits market segments and geographies, spirits market’s leading competitors’ revenues, profiles and market shares. The spirits market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.