Global Craft Spirits Market Size, Share, Trends, Industry Growth by Product (Whiskey, Vodka, Gin, Rum, Brandy, Liqueur, Others), by Distribution Channel (On-trade, Off-trade), by Region, and Forecast to 2028

Price: 3600/- USD | Published Date: April 22, 2022 |

The global craft spirits market size is expected to register a significant CAGR of around 28% over the forecast period 2022 to 2028. The increasing demand for premium alcoholic beverages around the world is a primary factor to drive the market growth. Furthermore, the increasing adoption of mild alcoholic beverages especially among youths, and the growing demand for premium quality craft spirit is further expected to fuel the market growth. Moreover, the increasing number of craft distilleries, innovation in flavored spirit, and the growing number of nightclubs & pubs are anticipated to boost the market growth over the forecast period.

Market Insights:

The global craft spirit market is bifurcated into product, distribution channel, and geography. On the basis of product, the market is further segmented into whiskey, vodka, gin, rum, and others. The whiskey segment dominated the global market in 2021. The medical benefit associated with the whiskey is one of the prominent factor to drive the segment growth. Furthermore, the rising focus of manufacturers to add more herbs and spices to enhance the taste and medicinal benefits is further expected to propel the segment growth. On the flip side, the gin segment is accounted to register the fastest growth rate and is estimated to hold a significant market share of around one-third market share by the end of the analysis period.

On the basis of distribution channel, the market is segmented into on-trade and off-trade. The on-trade segment dominated the global craft spirit market in 2021 and accounted to hold the largest revenue share of around 60% of the market. The increasing number of bars, pubs, and restaurants coupled with the growing sales of alcoholic beverages around the globe is a major factor to drive the segment growth. On the other hand, the off-trade segment is expected to register the fastest growth rate over the forecast period. The increasing trend of purchasing alcoholic beverages from hypermarkets, supermarkets, convenience stores, and wine shops due to the availability of better discounts is a major factor to drive the segment growth over the forecast period.

Craft Spirits Market Report

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The craft spirits comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinions obtained from interviews with industry executives and experts from prominent companies.

The craft spirits market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2019-20 – Historical Year
  • 2021 – Base Year
  • 2022-2028 – Forecast Period

Global Craft Spirits Market Segmentation:

Craft Spirits Market Segmentation by Product:

  • Whiskey
  • Vodka
  • Gin
  • Rum
  • Brandy
  • Liqueur
  • Others

Craft Spirits Market Segmentation by Distribution Channel:

  • On-trade
  • Off-trade

Craft Spirits Market Segmentation by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Craft Spirits Market: Geographic Coverage

Geographically, North America dominated the global craft spirit market in 2021 and is expected to hold the largest revenue share of around 60% of the market by the end of the analysis period. The rising demand for mild alcoholic beverages among consumers and the innovation in flavored spirits are some of the major factors to drive the market growth in the region. Furthermore, the increasing millennial population and the growing number of manufacturers in the region are anticipated to fuel the market growth in North America. On the flip side, the Asia Pacific is expected to register the fastest growth rate over the forecast period owing to the increasing demand for the product in developing economies.

Craft Spirits Market: Competitive Assessment

Some of the major market players operating in the global craft spirits market are Heaven Hill Distilleries, Inc., Diageo plc, Pernod Ricard, Remy Cointreau, and William Grant & Sons Limited. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

List of Key Companies:

  • Heaven Hill Distilleries, Inc.
  • Diageo plc
  • Pernod Ricard
  • Remy Cointreau
  • William Grant & Sons Limited
  • Constellation Brands, Inc.
  • Suntory Holdings Limited
  • Bacardi Limited
  • Campari Group
  • Sazerac Company, Inc.

Key Questions Answered by Craft Spirits Market Report

  • Global craft spirits market forecasts from 2022-2028
  • Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
  • Craft spirits submarket forecasts from 2022-2028 covering the market by product, by distribution channel, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level craft spirits markets from 2022-2028
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Craft Spirits Market Portraiture
2.2. Global Craft Spirits Market, by Product, 2021 (USD Mn)
2.3. Global Craft Spirits Market, by Distribution Channel, 2021 (USD Mn)
2.4. Global Craft Spirits Market, by Geography, 2021 (USD Mn)

 

3. Global Craft Spirits Market Analysis


3.1. Craft Spirits Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Craft Spirits Market By Product, 2019 – 2028 (USD Mn)


4.1. Overview
4.2. Whiskey
4.3. Vodka
4.4. Gin
4.5. Rum
4.6. Brandy
4.7. Liqueur
4.8. Others

 

5. Global Craft Spirits Market By Distribution Channel, 2019 – 2028 (USD Mn)


5.1. Overview
5.2. On-trade
5.3. Off-trade

 

6. North America Craft Spirits Market Analysis and Forecast, 2019 – 2028 (USD Mn)


6.1. Overview
6.2. North America Craft Spirits Market by Product (2019-2028 USD Mn)
6.3. North America Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
6.4. North America Craft Spirits Market by Country (2019-2028 USD Mn)
6.4.1. U.S.
6.4.1.1. U.S. Craft Spirits Market by Product (2019-2028 USD Mn)
6.4.1.2. U.S. Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
6.4.2. Canada
6.4.2.1. Canada Craft Spirits Market by Product (2019-2028 USD Mn)
6.4.2.2. Canada Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)

 

7. Europe Craft Spirits Market Analysis and Forecast, 2019 – 2028 (USD Mn)


7.1. Overview
7.2. Europe Craft Spirits Market by Product (2019-2028 USD Mn)
7.3. Europe Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
7.4. Europe Craft Spirits Market by Country (2019-2028 USD Mn)
7.4.1. Germany
7.4.1.1. Germany Craft Spirits Market by Product (2019-2028 USD Mn)
7.4.1.2. Germany Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
7.4.2. U.K.
7.4.2.1. U.K. Craft Spirits Market by Product (2019-2028 USD Mn)
7.4.2.2. U.K. Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
7.4.3. France
7.4.3.1. France Craft Spirits Market by Product (2019-2028 USD Mn)
7.4.3.2. France Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
7.4.4. Italy
7.4.4.1. Italy Craft Spirits Market by Product (2019-2028 USD Mn)
7.4.4.2. Italy Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
7.4.5. Rest of Europe
7.4.5.1. Rest of Europe Craft Spirits Market by Product (2019-2028 USD Mn)
7.4.5.2. Rest of Europe Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)

 

8. Asia Pacific Craft Spirits Market Analysis and Forecast, 2019 – 2028 (USD Mn)


8.1. Overview
8.2. Asia Pacific Craft Spirits Market by Product (2019-2028 USD Mn)
8.3. Asia Pacific Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
8.4. Asia Pacific Craft Spirits Market by Country (2019-2028 USD Mn)
8.4.1. China
8.4.1.1. China Craft Spirits Market by Product (2019-2028 USD Mn)
8.4.1.2. China Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
8.4.2. Japan
8.4.2.1. Japan Craft Spirits Market by Product (2019-2028 USD Mn)
8.4.2.2. Japan Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
8.4.3. India
8.4.3.1. India Craft Spirits Market by Product (2019-2028 USD Mn)
8.4.3.2. India Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
8.4.4. Rest of Asia Pacific
8.4.4.1. Rest of Asia Pacific Craft Spirits Market by Product (2019-2028 USD Mn)
8.4.4.2. Rest of Asia Pacific Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)

 

9. Latin America (LATAM) Craft Spirits Market Analysis and Forecast, 2019 – 2028 (USD Mn)


9.1. Overview
9.2. Latin America Craft Spirits Market by Product (2019-2028 USD Mn)
9.3. Latin America Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
9.4. Latin America Craft Spirits Market by Country (2019-2028 USD Mn)
9.4.1. Brazil
9.4.1.1. Brazil Craft Spirits Market by Product (2019-2028 USD Mn)
9.4.1.2. Brazil Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
9.4.2. Mexico
9.4.2.1. Mexico Craft Spirits Market by Product (2019-2028 USD Mn)
9.4.2.2. Mexico Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
9.4.3. Rest of Latin America
9.4.3.1. Rest of Latin America Craft Spirits Market by Product (2019-2028 USD Mn)
9.4.3.2. Rest of Latin America Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)

 

10. Middle East and Africa Craft Spirits Market Analysis and Forecast, 2019 – 2028 (USD Mn)


10.1. Overview
10.2. MEA Craft Spirits Market by Product (2019-2028 USD Mn)
10.3. MEA Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
10.4. Middle East and Africa Craft Spirits Market, by Country (2019-2028 USD Mn)
10.4.1. GCC
10.4.1.1. GCC Craft Spirits Market by Product (2019-2028 USD Mn)
10.4.1.2. GCC Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
10.4.2. South Africa
10.4.2.1. South Africa Craft Spirits Market by Product (2019-2028 USD Mn)
10.4.2.2. South Africa Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)
10.4.3. Rest of MEA
10.4.3.1. Rest of MEA Craft Spirits Market by Product (2019-2028 USD Mn)
10.4.3.2. Rest of MEA Craft Spirits Market by Distribution Channel (2019-2028 USD Mn)

 

11. Company Profiles


11.1. Heaven Hill Distilleries, Inc.
11.1.1. Business Description
11.1.2. Financial Health and Budget Allocation
11.1.3. Product Positions/Portfolio
11.1.4. Recent Development
11.1.5. SWOT Analysis
11.2. Diageo plc
11.2.1. Business Description
11.2.2. Financial Health and Budget Allocation
11.2.3. Product Positions/Portfolio
11.2.4. Recent Development
11.2.5. SWOT Analysis
11.3. Pernod Ricard
11.3.1. Business Description
11.3.2. Financial Health and Budget Allocation
11.3.3. Product Positions/Portfolio
11.3.4. Recent Development
11.3.5. SWOT Analysis
11.4. Remy Cointreau
11.4.1. Business Description
11.4.2. Financial Health and Budget Allocation
11.4.3. Product Positions/Portfolio
11.4.4. Recent Development
11.4.5. SWOT Analysis
11.5. William Grant & Sons Limited
11.5.1. Business Description
11.5.2. Financial Health and Budget Allocation
11.5.3. Product Positions/Portfolio
11.5.4. Recent Development
11.5.5. SWOT Analysis
11.6. Constellation Brands, Inc.
11.6.1. Business Description
11.6.2. Financial Health and Budget Allocation
11.6.3. Product Positions/Portfolio
11.6.4. Recent Development
11.6.5. SWOT Analysis
11.7. Suntory Holdings Limited
11.7.1. Business Description
11.7.2. Financial Health and Budget Allocation
11.7.3. Product Positions/Portfolio
11.7.4. Recent Development
11.7.5. SWOT Analysis
11.8. Bacardi Limited
11.8.1. Business Description
11.8.2. Financial Health and Budget Allocation
11.8.3. Product Positions/Portfolio
11.8.4. Recent Development
11.8.5. SWOT Analysis
11.9. Campari Group
11.9.1. Business Description
11.9.2. Financial Health and Budget Allocation
11.9.3. Product Positions/Portfolio
11.9.4. Recent Development
11.9.5. SWOT Analysis
11.10. Sazerac Company, Inc.
11.10.1. Business Description
11.10.2. Financial Health and Budget Allocation
11.10.3. Product Positions/Portfolio
11.10.4. Recent Development
11.10.5. SWOT Analysis
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