The global craft spirits market to grow at a CAGR of 26.91% during the period 2017-2021.
Global Craft Spirits Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the sale of craft spirit products to individual consumers.
One trend in the market is consolidation of craft spirits industry. One of the trends emerging in the global craft spirits market is the consolidation of the craft spirits industry. The number of mergers and acquisitions in the market is increasing, and many major players are acquiring small players to remain competitive and consolidate their positions in the market. In October 2016, Constellation Brands acquired High West Distillery in a deal worth about $160 million.
According to the report, one driver in the market is new product launches. One of the growth drivers for the global craft spirits market is the rise in the number of new product launches by players in the market. A successful product launch will help in increasing the revenue stream and the market presence of the players. New product launches will also help players to stay ahead of the competition in the market. The number of launches of new craft spirits has increased over the last five years. Most of the new product launches took place in the US, followed by Europe and South America.
Further, the report states that one challenge in the market is fluctuating prices of raw materials. One of the challenges to the growth of the global craft spirits market is the fluctuating prices of raw materials. As craft distillers do not produce in bulk, a slight increase in raw material price will affect their revenue stream. The price of raw materials will depend on several factors such as market conditions, climatic conditions, and others. The price of sorghum, which is a key raw material in the production of vodka, has been fluctuating globally. In Ethiopia, the production of sorghum was affected by El Nino-induced drought in 2016.
- Beam Suntory
- Constellation Brands
- Pernod Ricard
Other prominent vendors
- Asheville Distilling Company
- Balcones Distilling
- Chase Distillery
- East London Liquor Company
- Eden Mill: St Andrews Brewers
- Masons Yorkshire Gin
- Sibling Distillery
The Lakes Distillery
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Product
Part 07: Market Segmentation By Distribution Channel
Part 08: Geographical Segmentation
Part 09: Key Leading Countries
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/8crz4x/global_craft