White Spirits Industry Data Book Covers Vodka, Rum, and Gin Market

The global White Spirits Industry size generated over USD 57.37 billion in 2022 and is expected to grow at a significant CAGR of 6.0% over the forecast period.

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.

Vodka Market Insights

The global vodka market size was valued at USD 35.94 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The rising demand for vodka can be attributed to the growing consumption of premium vodka-based cocktails in developed economies such as the U.S. and Germany. The growing demand for vodka flavors such as cranberry, lime, and raspberry is augmenting growth. Moreover, offline trading of alcoholic beverages is further anticipated to boost market growth over the forecast period. The growing acceptance of grain-based vodkas with a delicious fruity taste is the major factor driving market growth.

Moreover, a rise in demand for natural and authentic flavors has been observed. The influence of social media and blogging sites is further supporting the growth of the global vodka market. Consumers are now more active on social networking platforms and aware of a variety of flavored vodkas and cocktails. For instance, Tito’s Vodka is marketed as “handcrafted vodka” on the company's social media account. Likewise, there are many blog posts on the internet that discuss vodka brands under different categories, such as flavored vodka and organic vodka.

The procurement of citrus cocktails at a reasonable cost is an upcoming opportunity for the market. However, the inclination of consumers toward non-alcoholic beverages is hindering market growth. At present, key players are focused on launching fruit-based vodka flavors, with minimal alcohol content. Hence, the vodka market is expected to record significant market growth during the review period. Growing investment from major players to procure superior-quality ingredients, such as blueberries and ruby red grapefruits, is propelling the market growth. The rising procurement of organic infusions across the world is driving the industry's growth. In addition, premium brands are focusing on introducing deliciously, flavored vodkas with crisp notes.

The popularity of e-commerce among consumers is also favoring the growth of vodka through online distribution channels. Direct-to-consumer (DTC) and other e-commerce channels that sell vodka have the potential for strong growth from a small base. Players engaged in direct-to-consumer approaches have employed different business models to legally sell to consumers directly. For one, distilleries are selling direct-to-consumer at a physical location or online. Third-party cocktail clubs (e.g., SaloonBox) are gaining popularity due to the “cocktail culture” trend, wherein clubs deliver expert-curated cases of spirits and cocktail ingredients; retail partners deliver the liquor, while the cocktail ingredients are shipped directly. The adoption of different models will likely favor the growth of the market.

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Rum Market Insights

The global rum market size was valued at USD 13.49 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030. Factors such as increasing consumer interest and expanding cocktail culture are expected to drive the industry growth globally. Product innovation and diversificationhave attracted new consumers and provided existing consumers with a wider range of options to choose from. Furthermore, there has been a shift in consumer preferences toward spirits with natural and authentic qualities. Rum, as a product with a rich history and often produced from natural ingredients like sugarcane, appeals to consumers seeking authentic and artisanal products.

The growing curiosity and interest among millennial consumers in the authenticity and quality of alcoholic beverages is driving the market. Craft rum, with its smooth flavor, premium quality, and genuine taste, is particularly popular among consumers. It is often produced on a small scale by producers who actively participate in the production process. Artisan producers promote their drinks by emphasizing the country of origin, age, and organic certifications, which attract greater attention from customers. Consumers are increasingly seeking quality drinks with an interesting story, craft credentials, and origin.

Rum is a distilled alcoholic drink made from sugarcane juice or fermented sugarcane molasses which contains natural flavors and oil and contains 40% ABV to 57.7% ABV in minimum overproof rums. The rising popularity of cocktail culture globally has led to an increased sense of adventure among consumers when it comes to their beverage preferences. Rum, being a versatile spirit, has become a sought-after choice in cocktail recipes like mojitos, piña coladas, and daiquiris. As the cocktail culture continues to expand, the demand for rum has witnessed a significant surge.

The presence and engagement of the younger generation in social establishments such as nightclubs, pubs, and bars have created a favorable environment for rum consumption. This demographic demonstrates a higher propensity for exploration and seeks out distinctive and trendy alcoholic beverages, including rum-based cocktails. The growing influence of this demographic within these establishments further contributes to the growth of the rum industry.According to Distilled Spirits Council, millennials constitute just 29% of the drinking-age population; however, they over-index on consumption across all major types of alcohol. In spirits alone, they comprise 32% of consumption by value and this is expected to continue as millennials mature and their buying power increases.

Go through the table of content of White Spirits Industry Data Book to get a better understanding of the Coverage & Scope of the study

White Spirits Industry Data Book Competitive Landscape

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. Thus, multinational players are aiming to achieve business growth in the regional market through mergers, acquisitions, and other strategic initiatives.

Key players operating in the White Spirits Industry are:

• Diageo plc
• Rémy Cointreau
• Bacardi Limited
• Pernod Ricard
• Beam Suntory, Inc.

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