White Spirits Industry Data Book | Forecast 2030
White Spirits Industry Data Book – Vodka, Rum and Gin Market
Grand View Research’s white spirits industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Access the Global White Spirits Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Vodka Market Report Highlights
- Non-Flavored segment held the largest share of over 65% in 2022. The demand for non-flavored vodka can be attributed to the growth in health consciousness which encourages the consumption of alcohol made with natural ingredients
- On-Trade segment held a significant market share of more than 67% in 2022. The growth of the segment can be attributed to the growing number of pubs and expanding hospitality industry
- Europe is expected to register a significant CAGR of 5.8% during the forecast period. The rising demand for premium vodka and the growing cocktail culture are the key drivers for the growth of the vodka market in the region
Order your copy of the Free Sample of “White Spirits Industry Data Book – Vodka, Rum and Gin Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030”, Data Book published by Grand View Research
Rum Market Report Highlights
- The off-trade segment accounted for the highest revenue share of over 75% in 2022 and is expected to grow significantly over the forecast period
- The dark and golden rum segment contributed the largest revenue share of over 45% in 2022 owing to the growing demand from millennials
- Asia Pacific accounted for the largest revenue share of over 40% in 2022 and is expected to grow at a substantial CAGR from 2023 to 2030. The presence of a huge population, rise in disposable income, easy availability of products, and rising popularity of rum in the younger generation leads to a high market share
- North America is estimated to be the fastest-growing market from 2023 to 2030. This is owing to the presence of a large number of global producers, rising demand for premium rums, and increase consumption of flavored and spiced rums in cocktails
Gin Market Report Highlights
The gin market is witnessing tremendous change as many distilleries are emerging in different parts of the world. This shift can be attributed to a big increment in the drinking habit of young adults and millennials who highly prefer the alcoholic drink−gin. While there are manifold choices within the alcoholic beverage industry, like beer, wine, and spirits, gin has captured significant focus, especially in foreign markets. Interesting trends within the gin beverages market include enthusiastic exploration of innovative and varied drink options. Therefore, demand for gin cocktails is rising.
The growth of the gin market can be attributed to several key factors that have contributed to the increasing popularity of gin. One such factor is the rising demand for gin cocktails, which have become a favored choice among consumers. Additionally, there is a noticeable increase in the preference for premium spirits, driving the expansion of the gin market. This trend of “premiumization” is particularly appealing to younger consumers who possess more refined palates and actively seek out unique and high-quality alcoholic beverages.
Competitive Insights
The manufacturers aim to achieve optimum business growth and a strong market position through the implementation of various strategies such as acquisitions, new product launches, collaborations, and strengthening of distribution networks in the global as well as regional markets. White spirits material manufacturers aim to intensify their market positions by widening their customer base.
