DUBLIN--(BUSINESS WIRE)--The "Craft Spirits Market Analysis By Distiller Size (Large, Medium, Small), By Product (Whiskey, Vodka, Gin, Rum, Brandy, Liqueur), By Region (North America, Europe, Asia Pacific, South America, MEA), And Segment Forecasts, 2014 - 2025" report has been added to Research and Markets' offering.
The global craft spirits market was valued at USD 6.13 billion in 2016 and is expected to grow at an impressive CAGR of 33.4% from 2017 to 2025, owing to growing consumer tastes and preferences towards unconventional and experimental alcoholic beverages and is expected to reach USD 80.43 billion by 2025
The demand for craft spirits is mainly driven by consumers growing a preference for premium and authentic drinks with unique tastes. People born between 1980s and early 2000s have accounted for the largest share of consumers in the industry.
A major share of the millennial population has just reached the Legal Drinking Age (LDA), while the other section comprises employed consumers with significantly higher purchasing power. The millennial population segment has fueled significant demand, owing to their preference for unconventional and experimental alcoholic beverages.
Whiskey was the most consumed variety of the craft spirits, followed by gin, vodka, and rum. Gin has gained wide consumer acceptance owing to its unique taste and flavor developed by juniper berries. The craft distillers focus on the use of different spices, fruits, herbs, and botanicals to produce innovative products. They procure raw materials from family-owned farming houses who have strong experience in producing grains and fruits.
The industry is mainly concentrated in North America, owing to sizeable demand in the U.S. Europe has been the second-largest market for the product over the past few years. The economically developing countries in Asia Pacific, Central & South America, and the Middle East & Africa are expected to gain traction over the forecast period. The industry in these countries is not entirely explored and thus offer huge growth opportunities for players.
Key players include Pernod Ricard, Diageo plc, Rmy Cointreau, Anchor Brewers & Distillers, Rogue Ales, and William Grant & Sons. The market is likely to move towards consolidation, owing to entrance of established players in the market through acquisitions.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Craft Spirits Market Variables, Trends &Scope
Chapter 4. Craft Spirits Market: Distiller Size Estimates & Trend Analysis
Chapter 5. Craft Spirits Market: Product Estimates & Trend Analysis
Chapter 6. Craft Spirits Market: Regional Outlook
Chapter 7. Competitive Landscape
Chapter 8. Company Profiles
- Pernod Ricard
- Diageo plc
- Anchor Distilling Company
- House Spirits Distillery
- Tuthilltown Spirits
- Woodinville Whiskey Co.,
- Rmy Cointreau
- Rogue Ales
- William Grant & Sons
- Constellation Brands, Inc.
- Chase Distillery, Ltd.
- Copper Fox Distillery
For more information about this report visit https://www.researchandmarkets.com/research/tn678f/craft_spirits