The Latest Spirits Industry Statistics Explained
The global spirits market size was valued at USD 686.52 billion in 2020.
The statistic ‘The global spirits market size was valued at USD 686.52 billion in 2020’ represents the total estimated value of sales generated by the global spirits industry in the specified year. This figure accounts for the cumulative revenue generated from the production and sale of various types of alcoholic spirits worldwide. The data point reflects the market’s substantial economic importance and growth trajectory, indicating the significant demand and consumption of spirits products globally. This statistic provides valuable insights into the scale and financial significance of the spirits industry, serving as a key indicator for stakeholders, policymakers, and investors interested in understanding and tracking trends in the global alcoholic beverages market.
The market is projected to reach USD 897.72 billion by 2028.
The statistic “The market is projected to reach USD 897.72 billion by 2028” indicates a forecasted value for the market size in terms of revenue, specifically projected to reach $897.72 billion by the year 2028. This statistic reflects expectations for the market’s growth and potential, suggesting an anticipated upward trend in market activity and value over the specified timeframe. Such projections are often based on various factors, such as current market trends, historical data, economic conditions, and industry analyses, providing important insights for businesses, investors, and policymakers to make informed decisions and strategies.
The spirits market will progress at a CAGR of 4.7% from 2021 to 2028.
This statistic means that the spirits market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.7% from the year 2021 to 2028. CAGR is a measurement used to calculate the average annual growth rate of an investment over a specified period of time. In this context, it indicates the projected annual growth rate of the spirits market over the next seven years. A CAGR of 4.7% suggests a steady and consistent growth trajectory for the market during this period, reflecting increasing demand for spirits products and potentially indicating favorable market conditions for businesses operating in the spirits industry.
The Spirits industry increased by 7.3% in 2020, despite the global pandemic.
The statistic that the Spirits industry increased by 7.3% in 2020, despite the global pandemic, indicates that the demand for spirits such as whiskey, vodka, gin, and other alcoholic beverages remained strong during a period of significant economic disruption and uncertainty. This growth could be attributed to various factors, such as increased at-home consumption due to lockdown measures, shifting consumer preferences towards premium and craft spirits, and possibly the desire for escapism or stress relief during challenging times. The resilience and growth of the Spirits industry despite the pandemic suggest a level of stability and adaptability within the market, and may serve as an indicator of consumer behavior and preferences in times of crisis.
Single malt Scotch whisky exports rose by 14.6% to reach £1.17 billion in 2018.
The statistic states that the exports of single malt Scotch whisky increased by 14.6% in 2018, reaching a total value of £1.17 billion. This indicates a significant growth in the international demand for this specific type of whisky. The rise in exports suggests that single malt Scotch whisky is becoming increasingly popular in global markets, potentially due to factors such as changing consumer preferences, marketing efforts, or improved distribution channels. The increase in export value also signals positive economic implications for the Scotch whisky industry, as higher sales volumes can lead to increased revenues and potentially drive further investments and expansions within the sector.
Brandy is projected to be the fastest-growing product segment in the spirits market from 2020 to 2027.
The statistic “Brandy is projected to be the fastest-growing product segment in the spirits market from 2020 to 2027” indicates that, based on current trends and forecasting models, Brandy is expected to experience the highest rate of growth compared to other products within the spirits market over the specified time period. This suggests that Brandy’s popularity and sales are predicted to increase more rapidly than other spirit categories, such as whisky, vodka, gin, or rum. Factors contributing to this projected growth could include shifting consumer preferences, marketing efforts by Brandy producers, and emerging market trends that favor the consumption of Brandy. Overall, this statistic highlights the anticipated success and expansion opportunities within the Brandy industry in the coming years.
The Asia Pacific region accounted for around 57% of the global spirits consumption in 2020.
This statistic indicates that the Asia Pacific region was responsible for consuming approximately 57% of all spirits worldwide in the year 2020. This high consumption level suggests a strong demand for spirits within the region, which could be influenced by factors such as cultural preferences, evolving consumer tastes, and growing economies. The prominence of the Asia Pacific region in global spirits consumption highlights its significance in the spirits industry and signifies substantial opportunities for spirits producers and marketers to target this market effectively. As a result, understanding and catering to the preferences and trends within the Asia Pacific region becomes crucial for businesses looking to successfully participate in the global spirits market.
The white spirits segment which comprises of gin, vodka and rum held more than 45% of the overall share in 2020.
The statistic indicates that in 2020, the white spirits segment, which includes beverages such as gin, vodka, and rum, captured more than 45% of the total market share in the alcohol industry. This suggests that white spirits were a dominant category within the market, outperforming other types of spirits like whiskey, tequila, and brandy. The high market share held by white spirits indicates significant consumer preference for these types of alcoholic beverages, possibly driven by factors such as versatility in cocktail-making, wide variety of flavors, and their appeal to a diverse range of consumer demographics. Overall, the data highlights the strong presence and popularity of white spirits within the alcoholic beverages market during the year 2020.
The number of craft distilleries in the U.S. grew 20.6% in 2017.
The statistic “The number of craft distilleries in the U.S. grew 20.6% in 2017” indicates that there was a significant increase in the count of small, independent spirit producers in the United States over the course of 2017. This growth rate of 20.6% represents a substantial expansion in the craft distillery industry, suggesting a rising trend in consumer demand for locally-produced and artisanal spirits. Factors contributing to this growth could include increased consumer interest in unique and high-quality alcoholic beverages, as well as favorable regulatory environments that support the establishment and growth of small-scale distilleries. This statistic highlights the dynamic nature of the spirits market and the evolving preferences of consumers in the U.S. It also suggests opportunities for further research and analysis on the economic and cultural impacts of the craft distillery movement.
By 2023, it’s projected that vodka will make up 31.1% of the overall spirits industry in the U.S.
The statistic states that by the year 2023, vodka is estimated to account for 31.1% of the total spirits market in the United States. This projection implies that vodka is expected to be a significant player in the overall spirits industry within the country, indicating a strong demand for this particular type of alcoholic beverage. The forecasted market share suggests that vodka will maintain a notable presence and consumer appeal in the U.S. compared to other spirit categories such as whiskey, rum, tequila, and gin. This statistic not only reflects consumer preferences and trends in the spirits market but also hints at the competitive landscape and market dynamics within the industry.
70% of spirits consumers in the US fall into the millennial or Gen X categories.
The statistic that 70% of spirits consumers in the US fall into the millennial or Gen X categories indicates that the majority of individuals who consume spirits in the United States belong to the millennial (born between 1981-1996) and Gen X (born between 1965-1980) generations. This finding has important implications for marketers and businesses in the alcohol industry, suggesting that targeting advertising campaigns, product development, and branding efforts towards these younger age groups may be particularly effective in reaching a large portion of the consumer base. Understanding the demographic composition of spirits consumers can help businesses tailor their strategies to better cater to the preferences and behaviors of these generational cohorts.
UK gin sales in foreign markets jumped to £672m ($884m) in 2019.
The statistic ‘UK gin sales in foreign markets jumped to £672m ($884m) in 2019’ indicates a significant increase in the total revenue generated from the export of gin from the UK to international markets during that year. This surge in sales suggests a growing global demand for UK-produced gin products, potentially driven by factors such as a positive reputation for quality and craftsmanship, effective marketing strategies, and changing consumer preferences worldwide. The increase in revenue to nearly $884 million highlights the economic importance of the UK gin industry in the global market and signifies a successful expansion of the reach of British gin brands beyond domestic borders.
In 2020, the U.S. spirits industry sold about 251.7 million nine-liter cases of spirits.
The statistic indicates that in 2020, the United States spirits industry recorded sales of approximately 251.7 million nine-liter cases of spirits. This figure points towards a significant demand for alcoholic beverages within the country during that year. The consumption of spirits is reflective of consumer preferences and trends within the industry, potentially influenced by factors such as social events, cultural practices, marketing strategies, and economic conditions. Analyzing these sales figures can provide insights into the market dynamics and help industry stakeholders in understanding and responding to consumer behavior as well as making informed decisions regarding production, distribution, and marketing strategies.
About 45% of the world’s spirits are consumed in Asia, as of 2020.
The statistic that about 45% of the world’s spirits are consumed in Asia as of 2020 highlights the significant market share that the Asian region holds in the global spirits industry. This statistic suggests a strong consumer interest and demand for alcoholic beverages in Asia, which includes countries such as China, Japan, India, and South Korea, among others. The high consumption of spirits in Asia may be attributed to cultural practices, social customs, and changing lifestyle trends in the region. This information is crucial for businesses in the spirits industry looking to enter or expand their presence in the Asian market, as it underscores the potential growth opportunities and the importance of understanding consumer preferences and market dynamics in this region.
Overall, the U.S. spirits market volume was approximately 231 million 9-liter cases in 2019.
The statistic indicates that in 2019, the total volume of spirits consumed in the United States amounted to approximately 231 million 9-liter cases. This metric reflects the total quantity of spirits (such as whiskey, vodka, rum, etc.) sold and consumed within the country during that year. It is a key indicator of the size and importance of the spirits market in the U.S., providing valuable insights into consumer preferences, industry trends, and economic impact. The volume figure serves as a benchmark for manufacturers, retailers, policymakers, and analysts to understand the scale and dynamics of the spirits industry in the U.S. and to make informed decisions regarding production, distribution, marketing, and regulation.
The global spirits market is expected to grow at a CAGR of 3.2% from 2021 to 2026.
This statistic indicates the projected compound annual growth rate (CAGR) of the global spirits market over the five-year period from 2021 to 2026. A CAGR of 3.2% suggests that the market is anticipated to expand at a consistent annual rate of 3.2% during this period. This growth rate reflects the expected increase in global demand for spirits such as whisky, vodka, rum, and gin, driven by various factors including changing consumer preferences, expanding middle-class populations in emerging markets, and innovative product offerings by spirits manufacturers. The CAGR provides a valuable metric for investors, industry stakeholders, and policymakers to assess the future growth potential and market dynamics of the global spirits industry.
Germany is the largest consumer of spirits in Europe, with over 30 million consumers in 2019.
The statistic that Germany is the largest consumer of spirits in Europe, with over 30 million consumers in 2019, indicates the significant popularity and consumption of alcoholic beverages, particularly spirits, within the country. This statistic suggests that there is a substantial market for spirits in Germany, with a large number of individuals actively participating in consuming such beverages. The high number of consumers also implies a potentially strong influence of alcohol culture within the country. Overall, this statistic highlights Germany’s position as a key player in the spirits industry in Europe, with a large and active consumer base driving demand for these products.
The Indian spirits market is expected to grow at a CAGR of 6.8% during 2021-2026.
The statement “The Indian spirits market is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.8% during the period from 2021 to 2026” signifies that the market for alcoholic beverages in India is projected to expand by an average of 6.8% annually over the next five years. This growth rate provides an indication of the market’s potential growth trajectory and suggests that there is a positive outlook for the spirits industry in India during the specified period. It also implies that factors such as increasing consumer demand, changing preferences, economic conditions, and market trends are likely to contribute to the market’s expansion. Overall, the CAGR figure serves as a valuable metric for forecasting and analyzing the future performance of the Indian spirits market.
China’s top imported spirit is whisky, which made up 56% of its total spirits imports in 2019.
The statistic indicates that in 2019, whisky was the most prominent spirit imported by China, accounting for 56% of the country’s total spirits imports. This suggests a strong demand for whisky among Chinese consumers and highlights its popularity in the Chinese market. The high percentage share of whisky imports relative to other spirits signifies that it is a favored choice among the variety of spirits available for importation in China. This statistic provides insights into the preferences of Chinese consumers and the trends within the spirits market in the country, showcasing the significant market share held by whisky in China’s imported spirits sector.
References
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