North America Spirits Market Size, Share & Trends Analysis Report By Product, By Caps & Closures, By Caps & Closures Material, By Distribution Channel, By Country, And Segment Forecasts, 2024 - 2030

North America Spirits Market Size, Share & Trends Analysis Report By Product, By Caps & Closures, By Caps & Closures Material, By Distribution Channel, By Country, And Segment Forecasts, 2024 - 2030

North America Spirits Market Growth & Trends

The North America spirits market size is expected to reach USD 332.59 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.3% over the forecast period of 2024 to 2030. The growing demand for unique and crafted alcoholic beverages is emerging as a rising trend in North America, which is expected to drive the spirit’s demand. Increasing product promotion and tasting/educating programs are boosting the sales of spirits among millennials. Over the past few years, with the changing lifestyles, consumers are choosing quality over quantity. The availability of a wide range of these drinks, including flavored and gluten-free, has boosted the sales of these products across the region. Companies have been introducing innovative flavors to their drinks to attract a wider range of consumers.

For instance, in August 2021, Rémy Cointreau’s brand Bruichladdich launched two new flavors in single malt whiskey: the Bruichladdich Bere Barley, a 10-year-old distilled in 2011 from the 2010 harvest of Orkney-grown Bere, and Port Charlotte Islay Barley, distilled in 2013 from the 2012 harvest of seven farmers.

Spirits are gaining traction among consumers and are one of the fastest-growing alcoholic beverage categories in the region, especially in the U.S. With the rapid expansion of social media, product manufacturers are continuously adopting and integrating social media to market alcoholic beverages. Brands are now promoting their wines by partnering with influencers and consumers to create “gram-worthy” posts. More than 100 million social media profiles on platforms such as Facebook, Twitter, and Instagram have been playing a key role in promoting these drinks.

Another consumer trend that is driving the growth of the market is the rise in demand for natural and organic beverages. Alcoholic beverages that are made organically and involve less fermentation are in high demand. Several small producers do not use chemicals in their drinks, and these locally produced alcoholic beverages are highly preferred by consumers. Health and wellness are becoming increasingly important to alcohol consumers, and as a result, consumers across the region are opting for alcoholic beverages made with natural flavors. Manufacturers have been focusing on ingredient quality and transparency, considering the growing trend.

Another notable consumer trend is “drink better, but less.” Consumers are leaning toward quality drinks while gradually reducing their alcohol intake. According to the International Wines and Spirits Record (IWSR), in 2019, 52% of adults in the U.S. were trying to reduce their intake of alcohol. In addition, a study organized by Bank of America Merrill Lynch found that 31% of millennials in the U.S. and the U.K. drank less alcohol in 2019, up from 21% of millennials in 2018. These trends are expected to shape the demand for spirit-based drinks.

North America Spirits Market Report Highlights

• Whisky accounted for a share of over 27% in 2023. Consumers are drawn to the rich flavors, diverse expressions, and artisanal craftsmanship associated with whisky. In addition, whisky tastings, festivals, and the influence of popular media have elevated its status. Rising disposable incomes and the trend towards savoring high-quality spirits over quantity further contribute to increased whisky consumption.
• Bar top/cork spirits are expected to grow at the fastest CAGR from 2024 to 2030. Bar top corks are often associated with high-quality, artisanal products, enhancing the overall drinking experience. They offer a traditional, tactile appeal that screw caps lack, and they suggest careful craftsmanship and attention to detail.
• Plastic cap & closures accounted for a market share of over 49% in 2023. People prefer spirits packaged with plastic caps and closures due to their practicality, convenience, and reliability. Plastic caps are easy to open and reseal, making them user-friendly and ideal for everyday use. They also provide a secure seal, which helps maintain the spirit's quality and prevents leakage.
• Sales through liquor stores are expected to grow at a significant CAGR from 2024 to 2030. Liquor stores typically offer a vast array of spirits, including popular brands, craft options, and exclusive releases that might not be available in general retail outlets. These stores provide a one-stop shop for all types of alcoholic beverages, making it easy for consumers to find what they need in one place.
• Canada is expected to grow at a significant CAGR from 2024 to 2030. North America has witnessed an increase in affluence and disposable income, allowing consumers to indulge in premium and luxury products like North America spirits. As economic conditions improve, there is a growing willingness to invest in high-quality and luxurious wardrobe staples.

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