Vermouth

Vermouth

Global Vermouth Market to Reach US$12.4 Billion by 2030

The global market for Vermouth estimated at US$11.1 Billion in the year 2023, is expected to reach US$12.4 Billion by 2030, growing at a CAGR of 1.6% over the analysis period 2023-2030. Sweet & Blanc Vermouth (SABV), one of the segments analyzed in the report, is expected to record a 1.7% CAGR and reach US$8.5 Billion by the end of the analysis period. Growth in the Dry Vermouth segment is estimated at 1.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.0 Billion While China is Forecast to Grow at 2.4% CAGR

The Vermouth market in the U.S. is estimated at US$3.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2030 trailing a CAGR of 2.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.4% and 1.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.

Global Vermouth Market - Key Trends & Drivers Summarized

Why Is Vermouth Experiencing a Resurgence in Popularity?

Vermouth, an aromatized wine fortified with botanicals, has been experiencing a resurgence in popularity as consumers rediscover classic cocktails and seek out sophisticated, versatile spirits. Traditionally used as a key ingredient in iconic cocktails such as the Martini and the Negroni, vermouth is now enjoying renewed interest as a standalone aperitif and as a base for innovative cocktail creations. The growing trend towards premiumization in the alcoholic beverages market, where consumers are increasingly willing to pay more for high-quality, artisanal products, is driving the demand for premium vermouth brands. Additionally, the rise of the craft cocktail movement and the increasing interest in low-alcohol beverages have further fueled the vermouth market’s growth, making it a staple in modern bars and home liquor cabinets alike.

How Are Trends in Consumer Preferences Impacting the Vermouth Market?

Trends in consumer preferences are significantly impacting the vermouth market, driving innovation and diversification in the types and styles of vermouth available. There is a growing demand for craft and artisanal vermouths, with consumers showing a preference for small-batch production and unique flavor profiles that highlight locally sourced botanicals. The interest in organic and natural products is also influencing the market, with an increasing number of vermouth brands offering organic and biodynamic options. Additionally, the trend towards lower-alcohol beverages is benefiting the vermouth market, as vermouth offers a flavorful, lower-alcohol alternative to spirits, appealing to health-conscious consumers. These shifts in consumer preferences are driving the development of new vermouth varieties, including innovative flavors and formulations, as producers seek to cater to the evolving tastes of the modern consumer.

What Are the Emerging Trends in the Vermouth Market?

The vermouth market is witnessing several emerging trends that are shaping its future. One significant trend is the increasing popularity of vermouth in the craft cocktail scene, where bartenders are experimenting with vermouth as a base for new and inventive cocktails, beyond the traditional recipes. Another trend is the rise of vermouth as a standalone beverage, enjoyed on its own over ice or with a splash of soda, reflecting the growing appreciation for its complex flavors and lower alcohol content. The market is also seeing a resurgence of interest in classic cocktail culture, leading to a revival of traditional vermouth-based drinks and a renewed focus on the quality and authenticity of vermouth products. Additionally, the expansion of vermouth offerings into new flavor profiles, including spiced, citrus-infused, and herbal varieties, is broadening its appeal to a wider range of consumers. The increasing availability of vermouth in global markets, driven by the growing popularity of Mediterranean and European drinking traditions, is also contributing to the market’s growth, as more consumers discover and embrace vermouth as a versatile and sophisticated beverage choice.

What Factors Are Driving the Growth of the Vermouth Market?

The growth in the vermouth market is driven by several factors, including the rising interest in craft cocktails and the premiumization trend in the alcoholic beverages industry, which is driving demand for high-quality, artisanal vermouths. The increasing consumer preference for lower-alcohol beverages, driven by health and wellness trends, is also fueling demand for vermouth, as it offers a flavorful alternative to higher-proof spirits. Additionally, the resurgence of classic cocktail culture, combined with the innovation in vermouth production and flavor profiles, is expanding the market by attracting both traditionalists and adventurous consumers. The growing global popularity of vermouth, particularly in regions such as North America and Asia-Pacific, where consumers are becoming more open to exploring new and diverse alcoholic beverages, is further boosting market growth. Moreover, the increasing availability of vermouth in retail and online channels, along with targeted marketing efforts that highlight its versatility and heritage, is contributing to the market’s expansion as more consumers discover and appreciate vermouth’s unique qualities.

Select Competitors (Total 41 Featured) -

• Bacardi Ltd.
• Davide Campari Milano SpA
• Fratelli Branca Distillerie Srl
• Giulio Cocchi Spumanti Srl
• Hotaling & Co.
• Martinez Lacuesta, S.A
• Regal Rogue

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