Spirits Global Market Sees Growth Rate Of 10% Through 2022

The global spirits market size is expected to grow from $132.11 billion in 2021 to $145.65 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The global spirits market size is expected to grow to $207.10 billion in 2026 at a CAGR of 9.2%.

What is the Global Spirits Market?

The spirits market consists of sales of potable liquors, ethyl alcohol, grain alcohol, and spirits by entities (organizations, sole traders, and partnerships) that distill 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.

Get a Sample of the global spirits market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=3559&type=smp

What drives the Global Spirits Market?

The world population is growing and is expected to reach 10 billion by 2050. An increase in population creates more demand for alcoholic beverages. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for spirits manufacturing (distilleries) products due to the rising population, during the forecast period.

Get the full global spirits industry report here

Global Spirits Market Segments
The global spirits market is segmented:
By Type: Whiskey, Vodka, Rum, Tequila, Gin, Others
By Distribution Channel: Off-Trade Channels, On-Trade Channels
By Category: Mass, Premium
By Geography: The regions covered in the spirits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Spirits Global Market Report 2022provides market size and growth forecasts for the global spirits market, global spirits market share, spirits market segments and geographies, spirits market competitive landscape including 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.

Global Spirits Industry Playersinclude Diageo plc, Pernod Ricard, Thai Beverage public co., The Brown–Forman Corporation, kirin holdings co ltd, Christian Dior SE, The Molson Coors Brewing Company, Suntory Holdings Limited, Asahi Group Holdings Ltd, and Anheuser-Busch InBev sa/nv. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.