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Distilled Spirits Market

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Distilled Spirits Market report categorizes the global market by Product, by Distribution Channel , and by Geography
Distilled Spirits Market - Insights, Size, Share,
Opportunity Analysis, and Industry Forecast till 2025
Distilled spirits are a class of alcoholic beverage obtained from distillation of mixture
produced from alcoholic fermentation. The distillation process primarily increases the
alcohol content and reduces the dilution by components such as water. This results
in higher alcohol content in distilled spirits compared to brewed beverages. The
minimum alcohol content in distilled spirit is 20% by volume and is therefore called
hard liquor. However, the minimum alcohol content in wine, cider and beer is less
than 10% by volume, therefore the drinks are not classified as spirits.
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The increasing demand for alcoholic beverages among steadily growing adult and
young demographic worldwide, is major factor propelling growth of the market.
Moreover, rise in number of distribution channels such as outlets in airports, online
sales, and separate counters for females fuel demand for alcoholic beverages, which
in turn boosts the global distilled spirits market growth. R&D in manufacturing of
distilled spirits plays an important role in the distilled spirits market, as demand for
these products largely depends on changing taste and preferences of consumers.
However, stringent government regulations in several economies such as ban on
advertisement of alcoholic beverages in public places and limited, permissible
consumption of these products are the factors hindering growth of the distilled spirits
market.
In terms of revenue, Europe dominated the distilled spirits market in 2016 and
accounted for a share of 45%. This dominance is majorly due to the extensive
consumption of alcoholic beverages and the steadily growing young population (0 to
14 years old) or working population (15 to 64 years old) in the region. According to
the Eurostat-European Commission, in 2016, young people made up 15.6% and the
working age population accounted for 65.3% of the total population in the region.
Whereas, the geriatric population (aged 65 or over) has a small share of only 19.2%.
In addition to this, according to the World Health Organization Europe (WHO), in
2012, adults had consumed three alcoholic drinks per day on average and 12.5 liters
of pure alcohol equivalent per year on average was consumed in Europe in 2012.
This high consumption of alcoholic beverages is thereby, aiding to the market growth
of distilled spirits.
Asia Pacific is anticipated to be the fastest growing market for distilled spirits,
witnessing the highest CAGR, during the forecast period (2017 - 2025). Major factors
propelling the growth of this market include the steadily increasing demand for the
alcoholic beverages and the rising consumption of alcohol in the emerging
economies including India and China. According to Coherent Market Insights, in
China, the sales of imported spirits have grown to almost four times in the last ten
years. In addition to this, the high demand for the local white spirit, commonly known
as baijiu is further aiding to the market growth of distilled spirits in China. According
to the data provided by National Center for Biotechnology Information (NCBI) in
2017, around 70% of the total alcoholic beverages consumed annually in China, is in
the form of spirits.
Major players operating in the global distilled spirits market include Diageo plc,
Pernod-Ricard SA, Constellation Brands Inc., Brown-Forman Corporation, Remy
Cointreau SA, Marie Brizard Wine & Spirits, Lapostolle SA and Berentzen-Gruppe
AG.
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apeksha motghare
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