Global Spirits Manufacturing - Industry Market Research Report

Global Spirits Manufacturing - Industry Market Research Report

Global Spirits Manufacturing

The Global Spirits Manufacturing industry has benefited from premiumization trends in both developed and emerging economies over the past five years. Emerging markets like China and India have picked up the slack from declines in Eastern Europe resulting from political tensions and government intervention. Spirit consumption in emerging markets has flourished alongside population growth and urbanization, while consumers in developed economies have spent more on spirits by trading up to premium products. The rising trend of ready-to-drink cocktails has fueled growth in developed economies, staving off competition from substitute beverages like wine and beer. Over the past five years, revenue for global spirits producers has swelled at a CAGR of 1.5%, reaching an estimated $139.5 billion in 2023, when revenue will jump by 2.3%.

The Global Spirits Manufacturing industry consists of distilleries that purchase a range of ingredients, such as grains and sugar, and manufacture them into spirits. These spirits are bottled and sold to liquor wholesalers, bars, casinos, restaurants, hotels and other licensed retailers. This industry does not include manufacturers of beer and wine.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.