Global Spirits Market Briefing 2023 Including - Whiskey Vodka Rum Gin Tequila

Global Spirits Market
Briefing 2023
The Business Research Company
February 2023
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Global Spirits Market Briefing 2023 PAGE|2
Table of Contents
Spirits Market Characteristics ......................................................................................................... 4
Spirits Market Trends And Strategies .............................................................................................. 6
Ready-To-Mix Hybrid Beverages ................................................................................................. 6
Rise Of Alcohol Ecommerce Market ............................................................................................ 6
Rise In Ready-Mixed Cocktails ..................................................................................................... 7
Spirits Market Historic Growth ........................................................................................................ 8
Drivers Of The Market................................................................................................................. 9
Restraints On The Market ........................................................................................................... 9
Spirits Market Forecast Growth .................................................................................................... 10
Drivers Of The Market............................................................................................................... 11
Restraints On The Market ......................................................................................................... 11
Spirits Market Segmentation ........................................................................................................ 13
Global Spirits Market, Split By Segment, 2022, $ Billion ............................................................. 13
Global Spirits Market, Historic And Forecast, Split By Segment, 2017-2027 ................................ 15
Spirits Market Geography Regional Comparison ............................................................................17
Global Spirits Market, Split By Region, 2022, $ Billion .................................................................17
Global Spirits Market, Historic And Forecast Growth Rate, Split By Region, 2017-2027 ............... 19
Appendix...................................................................................................................................... 21
Market Data Sources ................................................................................................................ 21
NAICS Definition Of The Industry Covered In This Report .......................................................... 22
Global Outlook Assumptions ..................................................................................................... 22
Research Methodology ............................................................................................................. 23
Abbreviations ........................................................................................................................... 24
Currencies ................................................................................................................................ 24
Research Inquiries ..................................................................................................................... 24
The Business Research Company .............................................................................................. 24
Copyright And Disclaimer ......................................................................................................... 24
© The Business Research Company 2023, All Rights Reserved

Global Spirits Market Briefing 2023 PAGE |3
List Of Figures
Figure 1: Global Spirits Market, Historic Market Size, 2017-2022, $ Billion ........................................ 8
Figure 2: Global Spirits Market, Forecast Market Size, 2022-2027, $ Billion .................................... 10
Figure 3: Global Spirits Market, Split By Segment, 2022, $ Billion ................................................... 13
Figure 4: Global Spirits Market, Historic And Forecast, Split By Segment, 2017-2027 ...................... 15
Figure 5: Global Spirits Market, Split By Region, 2022, $ Billion .......................................................17
Figure 6: Global Spirits Market, Historic And Forecast Growth Rate, Split By Region, 2017-2027 ..... 19
List Of Tables
Table 1: Global Spirits Market, Historic Market Size, 2017-2022, $ Billion ......................................... 8
Table 2: Global Spirits Market, Forecast Market Size, 2022-2027, $ Billion...................................... 10
Table 3: Global Spirits Market, Split By Segment, 2022, $ Billion .................................................... 14
Table 4: Global Spirits Market, Historic And Forecast, Split By Segment, 2017-2027 ....................... 16
Table 5: Global Spirits Market, Split By Region, 2022, $ Billion ....................................................... 18
Table 6: Global Spirits Market, Historic And Forecast Growth Rate, Split By Region, 2017-2027 ...... 20
Table 7: Spirits Market Data Sources ............................................................................................. 21

Global Spirits Market Briefing 2023 PAGE |4
Spirits Market Characteristics

Spirits are distilled alcoholic beverages made from a grain or fruit/vegetable-derived sugar that’s fermented
and distilled.
The spirits market consists of sales of irish whiskey, american whiskey, canadian whiskey, scotch whiskey,
flavored vodka, non-flavored vodka, light rum, dark rum, golden rum, spiced rum, black rum, reposado tequila,
blanco tequila, anejo tequila, old tom gin, london dry gin, plymouth gin, fruit spirits, honey spirits, ouzo, and
other spirits. The companies in the distilleries industry process raw materials into potable liquors, ethyl alcohol,
grain alcohol and spirits, package and distribute them through various distribution channels to both on-trade
and off-trade establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by
the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers,
wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes
related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the
specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless
otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by
organizations in the specified geography within the specified market, irrespective of where they are produced.
It does not include revenues from resales either further along the supply chain or as part of other products.
The spirits market is segmented into whiskey, vodka, rum, tequila, gin and other spirits.
 Whiskey
Whiskey is a distilled alcoholic beverage from a fermented mash of grain, such as barley, rye, or corn,
and contains 43-50% alcohol. The whiskey market consists of sales of irish whiskey, american whiskey,
canadian whiskey, scotch whiskey, and other whiskey. The companies in the distilleries industry
process raw materials into whiskey, package and distribute them through various distribution channels
to both on-trade and off-trade establishments. Values in this market are ‘factory gate’ values, that is
the value of goods sold by the manufacturers or creators of the goods, whether to other entities
(including downstream manufacturers, wholesalers, distributors and retailers) or directly to end
customers. The value of goods in this market includes related services sold by the creators of the goods.
The whiskey market is segmented into single malt and other whiskey.
 Vodka
Vodka is a clear distilled alcoholic beverage based on starch-rich grains such as rye, maize wheat, or
potatoes. The vodka market consists of sales of flavored vodka and non-flavored vodka. The
companies in the distilleries industry process raw materials into vodka, package and distribute them
through various distribution channels to both on-trade and off-trade establishments. Values in this
market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the
goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and
retailers) or directly to end customers. The value of goods in this market includes related services sold
by the creators of the goods.

 Rum
Rum is an alcoholic beverage made by fermenting and then distilling sugarcane molasses or sugarcane
juice. The rum market consists of sales of light rum, dark rum, golden rum, spiced rum, black rum, and
other rum. The companies in the distilleries industry process raw materials into rum, package and
distribute them through various distribution channels to both on-trade and off-trade establishments.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or
creators of the goods, whether to other entities (including downstream manufacturers, wholesalers,
distributors and retailers) or directly to end customers. The value of goods in this market includes
related services sold by the creators of the goods. The rum market is segmented into white rum and
black rum.
 Tequila
Tequila is a mexican alcoholic beverage that is made from the fermented juice of the blue agave plant
that has been subjected to two separate distillations. The tequila market consists of sales of reposado
tequila, blanco tequila, anejo tequila, and other tequila. The companies in the distilleries industry
process raw materials into tequila, package and distribute them through various distribution channels
to both on-trade and off-trade establishments. Values in this market are ‘factory gate’ values, that is
the value of goods sold by the manufacturers or creators of the goods, whether to other entities
(including downstream manufacturers, wholesalers, distributors and retailers) or directly to end
customers. The value of goods in this market includes related services sold by the creators of the goods.
 Gin
Gin is a distilled alcoholic beverage that derives its flavor from juniper berries which are triple distilled
in traditional copper stills. The gin market consists of sales of old tom gin, london dry gin, plymouth
gin, and other gin. The companies in the distilleries industry process raw materials into gin, package
and distribute them through various distribution channels to both on-trade and off-trade
establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the
manufacturers or creators of the goods, whether to other entities (including downstream
manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods
in this market includes related services sold by the creators of the goods.
 Other Spirits
Spirits are distilled alcoholic beverages made from a grain- or fruit/vegetable-derived sugar that’s
fermented and distilled. The other spirits market consists of sales of fruit spirits, honey spirits, ouzo,
and other spirits. The companies in the distilleries industry process raw materials into spirits, package
and distribute them through various distribution channels to both on-trade and off-trade
establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the
manufacturers or creators of the goods, whether to other entities (including downstream
manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods
in this market includes related services sold by the creators of the goods.

Spirits Market Trends And Strategies

Major trends shaping the spirits market include the following –
Ready-To-Mix Hybrid Beverages

Spirits manufacturers are now offering ready-to-mix hybrid beverages to cater to changing consumer tastes
and preferences. Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories. They are
prepared by using unique flavor combinations, ingredients and production methods from multiple drinks. For
example, producing spirits or beers in a wine barrel, to give them a distinct taste. Hybrid beverages are
particularly evident in the spirit category, with products such as beer mixed with rum and tea mixed with vodka.
i
Some of the popular hybrid beverages include Malibu Red (rum and tequila), Kahlua Midnight (rum and
Kahlua) and Absolut Tune (vodka and sparkling wine).ii For example, in 2022, Coca-Cola signed brand
authorization agreement with Constellation Brands Inc. to launch FRESCA Mixed, a line of full flavored, spirit
based ready to drink cocktails in US.iii
Spirits manufacturers should consider experimenting with different production methods and ingredients to offer
new ready-to-mix hybrid beverages to enhance customer experience
Rise Of Alcohol Ecommerce Market

Many alcoholic beverage manufacturing companies including spirit manufacturers are increasing their
customer base through e-commerce platforms. The increasing use of internet and ecommerce platforms
among consumers facilitates online alcoholic drink sales and also gives companies access to new markets
without heavy investment in distribution channels.iv According to new research by IWSR Drinks Market
Analysis, US findings showed that beverage alcohol e-commerce sales are expected to reach more than $42
billion across key markets by 2025; a growth of +66%. A quarter of global drinkers are now ordering online. v
China was the leader in alcohol ecommerce, with 27% of the consumers purchasing alcohol over the internet. vi
Some companies such as Pernod Ricard, a French distilled beverage manufacturing company, has its own
digital platform for selling alcohol in the UK and France, and is utilizing relationships with ecommerce giants
such as Amazon to further increase sales vii
Alcoholic beverage manufacturers should consider collaborating with e-commerce platforms to increase sales.

Rise In Ready-Mixed Cocktails

Alcoholic beverage manufacturers including spirit manufacturers are offering ready-mixed or ready-to-drink
cocktails to enhance drinking experience for consumers. These ready-mixed cocktails are pre-mixed bottled
and pre-batched drinks produced by mixing wine or spirits with fruit juices. Ready mixed drinks include
margaritas, martinis, whiskey and vodka-based drinks, packaged in cans and bottles. Ready-to-drink beverages
are often packaged in such a way so that they resemble other alcoholic drinks. For example, Jack Daniel’s pre-
mixed whiskey-colas, packaged in beer-like cans and Nola’s Vodka Spritzers are available in tall, elongated
bottles, which look just like a light wine.viii Ready-mixed cocktails are popular in Europe. Further, in 2021, On
the Rocks Premium Cocktails, the ready to serve cocktail brand launched its latest pre missed crafted cocktail,
The Manhattan, the premium natural ingredients and high-quality spirit-based infusions.ix Major ready mixed
cocktails brands include Jose Cuervo RTD, Jack Daniel’s Country Cocktails, Chi-Chi’s, Bacardi Party, Kahlua
Drinks To Go, BuzzBallz, Captain Morgan Prepared Cocktails and Malibu Prepared Cocktails.x
Alcoholic beverage manufacturing companies should consider offering ready-mixed cocktail drinks to provide a
convenient and enhanced drinking experience to consumers.

Spirits Market Historic Growth

Global spirits market was worth $143.5 billion in 2022. it was the third largest segment within the alcoholic -
beverages market accounting for 27.0%. In terms of per capita consumption, the market was $18.4 and in terms
of global GDP, the market was 0.13%. Spirits was the third largest segment within the alcoholic - beverages
market accounting for 27.0% preceded by wine and brandy at 31.6% and beer at 41.3% respectively.
The chart and table below show the year-on-year growth of the global spirits market during 2017-2022.
Figure 1: Global Spirits Market, Historic Market Size, 2017-2022, $ Billion

Sources: Market Data Sources, TBRC Estimates, TBRC Analysis
Table 1: Global Spirits Market, Historic Market Size, 2017-2022, $ Billion

Market 2017 2018 2019 2020 2021 2022 CAGR
Spirits 112.59 119.97 128.46 123.18 130.87 143.53 4.98%

The global spirits market grew from $112.59 billion in 2017 to $143.53 billion in 2022 at a compound annual
growth rate (CAGR) of 4.98%.

Drivers Of The Market

Rise In Disposable Income –The spirits manufacturing (distilleries) market was driven by the rise in disposable
income levels in the majority of countries in the historic period. For instance, disposable personal income in
India increased to $3145.81 in 2021 from $3145.81 in 2020xi. Rise in per capita net disposable income led
customers to increase their spending food and beverages including eating out with friends and family, which in
turn boosted the demand for spirits manufacturing (distilleries), driving the market in the historic period.
Restraints On The Market

Stringent Regulations –Strict government laws and regulations in some countries had a negative impact on
the spirits manufacturing (distilleries) market in the historic period. Rules and restrictions surrounding serving
of spirits containing alcohol differ from country to country. For example, the Minimum Legal Drinking Age
(MLDA) is a country-specific law that specifies the legal age at which an individual is allowed to consume liquor.
This number varied between countries and jurisdictions, for instance. It is 16 in Germany and 21 in countries
such as the USA, Oman and Sri Lanka. In many parts of the world, alcohol is banned and its consumption is a
criminal offence. Such countries include Afghanistan, the Maldives, Iran and Libyaxii. Similarly, advertising
alcohol was banned in many countries, such as Russia, India, South Africa and Ukraine xiii. These stringent
regulations hampered the growth of the alcoholic - beverages market, as they significantly reduced the
consumer base and increased compliance costs.
Talent Crunch–High competition for workers and a lack of suitably trained employees contributed to a
shortage of labor in the spirits manufacturing (distilleries) industry in this period, restraining its development.
For example, according to a 2017 survey by Association of Labor Providers (ALP), around 70% of companies in
the food and beverage manufacturing industry were struggling due to a shortage of skilled workforce. This
limited the growth of the spirits manufacturing (distilleries) market during the historic period. xiv
Changing Regulatory Environment–Rising concerns about consumer health, sustainability and social issues
have encouraged governments to regulate different products in spirits manufacturing (distilleries) industry.
These changes in regulation mostly affected tobacco and alcoholic drinks categories. For instance, the
Australian government removed all branding from tobacco packs. Other examples include restrictions on the
late-night sale of alcohol and bans on consumption at various public places by the Russian government and
Thailand’s government plans to implement graphic health warnings on alcoholic beverages. These factors
limited the growth of the spirits manufacturing (distilleries) market during the historic periodxv

Global Spirits Market Briefing 2023 P A G E | 10
Spirits Market Forecast Growth

The chart and table below show the year-on-year growth of the global spirits market during 2022-2027.
Figure 2: Global Spirits Market, Forecast Market Size, 2022-2027, $ Billion

Table 2: Global Spirits Market, Forecast Market Size, 2022-2027, $ Billion

Market 2022 2023 2024 2025 2026 2027 CAGR
Spirits 143.53 153.37 162.8 172.43 182.45 193.06 6.11%

The global spirits market is expected to grow from $143.53 billion in 2022 to $193.06 billion in 2027 at a CAGR
of 6.11%.

Drivers Of The Market

Rising Population –World population is growing and is expected to reach 10 billion by 2050xvi. Increase in
population creates more demand for alcoholic-beverages. Crop production, farming activities and trade
volumes will have to increase in order to meet increased population. Therefore, companies in this market are
expected to benefit from rising demand for spirits manufacturing (distilleries) products due to rising
population, during the forecast period.
Demand For Ready To Drink Beverages – Increasing demand for ready-to-drink (RTD) beverages is expected
to drive the alcoholic-beverages market in the forecast period. RTD is a single-use packaged beverage that is
ready for immediate consumption at the time of purchase. RTD drinks are gaining popularity among working
adults due to their clean label and functionality. Introduction of new flavors of in the range of RTD alcoholic
beverages, ease of carrying, and convenience are expected to boost the demand for RTD spirits. Increasing
demand for RTD beverages, including RTD alcoholic beverages, spirits is expected to drive spirits
manufacturing (distilleries) market going forwardxvii. For instance, probiotic beverages is expected to generate
over $77 billion in sales by 2025.xviii
Faster Economic Growth – The spirits manufacturing (distilleries) market growth is aided by stable economic
growth forecasted in many developed and developing countries. The International Monetary Fund (IMF)
predicts that the global GDP growth will be 5.9% in 2021 and 4.4% in 2022. Recovering commodity prices, after
a significant decline in the historic period is further expected to aid the market growth. Developed economies
are also expected to register stable growth during the forecast period. Additionally, emerging markets are
expected to continue to grow slightly faster than the developed markets in the forecast period. Stable
economic growth is expected to increase investments in the end user markets, thereby driving the market
during forecast period. xix
Restraints On The Market

Tax Increases – Taxing unhealthy foods and drinks and restricting the branding and advertising of alcoholic
and spirits beverages is being actively considered by many countries. There has already been an increase in
taxes on ‘unhealthy’ food and drinks by the Danish, Mexican and Hungarian governments In 2019, Malaysia
introduced a "sugar tax" of 40 sen per litre on drinks containing sugar above a set limit. Similarly, from 2022,
2% withholding tax will be imposed on monetary payments made by companies to their authorized agents,
dealers or distributors, arising from sales.xxThese changes are likely to create major restraints for spirits
manufacturing (distilleries) companies, especially for those multinational organizations which are exposed to
different tax regimes across varied geographies and countries. xxi
Rising Awareness On Effects of Excessive Alcoholic Beverages Consumption – Rising awareness about high
alcohol and spirits consumption and addictive nature of alcoholic beverages is expected to restrain the spirits
market in the forecasted period. Excessive consumption of alcoholic beverages may lead to digestive issues
such acidity, rapid heart rat, muscle breakdown, high blood pressure, and anxiety. Increasing awareness on
adverse effects of excessive consumption of alcohol, especially among health-conscious millennial, is expected
to limit the growth of the spirits manufacturing (distilleries) market in the forecast period. xxii
Russian-Ukrainian War - The Russia-Ukraine war is expected to hinder the growth of the spirits market during
the forecast period. The political turmoil between the two nations has led to material shortage and supply

disruptions of various products and services. Russia and Ukraine are key producers of major agricultural
commodities, minerals and other essentials. The ongoing conflict between the two countries is causing anxiety
among traders and manufacturers due to fear of continued shortage of products and services, thus impacting
the spirits market growth in the forecast period.

Spirits Market Segmentation

Global Spirits Market, Split By Segment, 2022, $ Billion
The chart and table below show the split of the spirits market by segment in 2022.
Figure 3: Global Spirits Market, Split By Segment, 2022, $ Billion


Table 3: Global Spirits Market, Split By Segment, 2022, $ Billion

Segment Segment Share Market Value
Whiskey 42.88% 61.55
Vodka 29.00% 41.62
Rum 9.72% 13.95
Gin 9.29% 13.33
Tequila 7.39% 10.61
Other Spirits 1.72% 2.47

Whiskey was the largest segment in the spirits market at 42.88% of the market worth about $61.55 billion.
Vodka was the second largest segment in the spirits market at 29.00% of the market worth about $41.62 billion.
Other Spirits was the smallest segment in the spirits market at 1.72% of the market worth about $2.47 billion.

Global Spirits Market, Historic And Forecast, Split By Segment, 2017-2027

The chart and table below show the spirits market historic and forecast growth rates by segment during 2017-
2027.
Figure 4: Global Spirits Market, Historic And Forecast, Split By Segment, 2017-
2027


Table 4: Global Spirits Market, Historic And Forecast, Split By Segment, 2017-2027
Segment Historic CAGR (2017 - 2022) Forecast CAGR (2022 - 2027)
Tequila 7.45% 10.79%
Vodka 6.09% 6.87%
Other Spirits 5.13% 6.98%
Rum 5.07% 6.12%
Gin 4.86% 5.28%
Whiskey 3.88% 4.81%

Tequila had the highest CAGR of 7.45% during 2017-2022; this segment is expected to grow at a CAGR of
10.79% during 2022-2027.
Vodka had the second highest CAGR of 6.09% during 2017-2022; this segment is expected to grow at a CAGR
of 6.87% during 2022-2027.
Whiskey had the smallest CAGR of 3.88% during 2017-2022; this segment is expected to grow at a CAGR of
4.81% during 2022-2027.

Spirits Market Geography Regional

Comparison
Global Spirits Market, Split By Region, 2022, $ Billion
The chart and table below show the split of the spirits market by region in 2022.
Figure 5: Global Spirits Market, Split By Region, 2022, $ Billion


Table 5: Global Spirits Market, Split By Region, 2022, $ Billion

Region Region Share Market Value
Asia Pacific 55.31% 79.38
North America 23.35% 33.51
Western Europe 12.58% 18.06
Eastern Europe 4.77% 6.84
Africa 1.47% 2.11
South America 1.44% 2.07
Middle East 1.09% 1.56

Asia Pacific was the largest region in the spirits market in 2022, accounting for $79.38 billion or 55.31% of the
global spirits market.
North America was the second largest region in the spirits market in 2022, accounting for $33.51 billion or
23.35% of the global spirits market.
Middle East was the smallest region accounting for $1.56 billion.

Global Spirits Market, Historic And Forecast Growth Rate, Split By Region, 2017-2027
The chart and table below show the spirits market historic and forecast growth rates by region during 2017-
2027.
Figure 6: Global Spirits Market, Historic And Forecast Growth Rate, Split By
Region, 2017-2027


Table 6: Global Spirits Market, Historic And Forecast Growth Rate, Split By
Region, 2017-2027
Region Historic CAGR (2017 - 2022) Forecast CAGR (2022 - 2027)
Africa 8.24% 5.97%
North America 7.28% 8.12%
Eastern Europe 5.15% 7.43%
Middle East 5.04% 5.82%
Asia Pacific 4.56% 5.31%
Western Europe 2.83% 5.51%
South America 2.61% 3.09%

Africa had the highest CAGR of 8.24% during 2017-2022; this region is expected to grow at a CAGR of 5.97%
during 2022-2027.
North America had the second highest CAGR of 7.28% during 2017-2022; this region is expected to grow at a
CAGR of 8.12% during 2022-2027.
South America had the lowest CAGR of 2.61% during 2017 - 2022; this region is expected to grow at a CAGR of
3.09% during 2022 - 2027.

Appendix
Market Data Sources
Table 7: Spirits Market Data Sources
Source URL
National Statistic Offices https://www.indec.gob.ar/; http://www.abs.gov.au/;

https://www.statistik.at/web_en/; https://statbel.fgov.be/en;
https://ww2.ibge.gov.br/home/default.php; http://www.statcan.gc.ca/;
http://www.ine.cl; http://www.stats.gov.cn/english/;
http://www.dane.gov.co/index.php/en/;
http://kostat.go.kr/portal/eng/index.action; https://www.dst.dk/en;
http://www.capmas.gov.eg/?lang=2;
https://www.tilastokeskus.fi/index_en.html; https://www.insee.fr/en/accueil;
https://www.destatis.de/EN/Homepage.html;
https://www.censtatd.gov.hk/home/; http://mospi.nic.in/#;
https://www.bps.go.id/; http://www.cso.ie/en/index.html;
http://www.cbs.gov.il/reader/cw_usr_view_Folder?ID=141;
http://www.istat.it/en/; http://www.stat.go.jp/english/index.htm;
https://www.dosm.gov.my/v1/; http://en.www.inegi.org.mx/;
https://opendata.cbs.nl/statline/#/CBS/en/navigatieScherm/thema?themaNr=
5350; https://www.stats.govt.nz/; http://www.nigerianstat.gov.ng/;
https://www.ssb.no/en/; https://www.inei.gob.pe/; http://psa.gov.ph/;
http://stat.gov.pl/en/;
https://www.ine.pt/xportal/xmain?xpgid=ine_main&xpid=INE;
http://www.insse.ro/cms/en;
http://www.gks.ru/wps/wcm/connect/rosstat_main/rosstat/en/main/;
https://www.singstat.gov.sg/; https://www.stats.gov.sa;
http://www.statssa.gov.za/; https://www.czso.cz/csu/czso/home;
http://www.ine.es/en/welcome.shtml; http://www.scb.se/en/;
https://www.bfs.admin.ch/bfs/en/home.html; http://web.nso.go.th/;
http://www.turkstat.gov.tr/Start.do;jsessionid=nZhGhvpT3DQ7vWJt3c8HcMJ
GXjhyhPNh24yPpJzbnRFKwqHLGWrq!-270508800; http://fcsa.gov.ae/en-us;
https://www.ons.gov.uk/; https://census.gov/; http://www.ine.gov.ve/;
https://www.gso.gov.vn/Default.aspx?tabid=217
Directorate-General of https://ec.europa.eu/eurostat
the European
Commission
World Health https://www.who.int/
Organization
International Monetary https://www.imf.org/external/index.htm
Fund
Organisation for http://www.oecd.org/
Economic Co-operation
and Development
UN Comtrade Database https://comtrade.un.org/

NAICS Definition Of The Industry Covered In This Report

Spirits-Spirits are distilled alcoholic beverages made from a grain or fruit/vegetable-derived sugar that’s
fermented and distilled.
The spirits market consists of sales of irish whiskey, american whiskey, canadian whiskey, scotch whiskey,
flavored vodka, non-flavored vodka, light rum, dark rum, golden rum, spiced rum, black rum, reposado tequila,
blanco tequila, anejo tequila, old tom gin, london dry gin, plymouth gin, fruit spirits, honey spirits, ouzo, and
other spirits. The companies in the distilleries industry process raw materials into potable liquors, ethyl alcohol,
grain alcohol and spirits, package and distribute them through various distribution channels to both on-trade
and off-trade establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by
the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers,
wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes
related services sold by the creators of the goods. The spirits market is segmented into whiskey; vodka; rum;
tequila; gin and other spirits.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the
specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless
otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by
organizations in the specified geography within the specified market, irrespective of where they are produced.
It does not include revenues from resales either further along the supply chain or as part of other products.
Global Outlook Assumptions

Our numbers in all markets reflect the current consensus for the global economic outlook for the next 3-5 years.
This includes the positive impact of post pandemic reopening in 22-23, high inflation in the short term, higher
energy prices in the short term and higher interest rate environment in the short term. Note that our market
estimates are 'nominal' and include the impact of inflation, (reflecting actual values paid not their theoretical
worth). The estimates and forecasts for Russia and Ukraine specifically are adjusted for the impact of war. Due
to the unusual economic situation in Russia (including sanctions, currency controls etc) the market size has
been reduced to reflect a truer idea of the USD value rather than the nominal local currency value.
Note on COVID-19: The effect of the coronavirus pandemic has led to forecasts in many markets being altered
away from long term historic trends based on the impact of COVID on specific markets and geographies.
Historic trend data continues to be used to forecast the longer-term development of these markets.

Research Methodology
The Business Research Company’s reports are based on the methodology below.
Data
Our datasets are created using a wide range of proprietary and public sources including leading government
bodies, associations, trade journals, market intelligence reports and trade magazines. Data is modelled based
on hard data, extrapolation, regression analysis based on known macro data inputs, interpolation between
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http://www.drinks-insight-network.com/features/featuretop-trends-in-alcoholic-drinks-5724974/
ii
https://www.beveragemedia.com/2013/08/22/meet-the-hybrids/
iii
https://www.coca-colacompany.com/news/fresca-mixed-north-america-launch
iv
https://www.mydrinkbeverages.com/key-trends-shaping-alcohol-industry-in-2017
v
https://www.forbes.com/sites/katedingwall/2021/12/22/alcohol-e-commerce-expected-to-reach-42-billion-by-
2025/?sh=7dd6ed891a3d
vi
https://www.just-drinks.com/news/china-tops-alcohol-e-commerce-survey_id122858.aspx

vii
http://www.businessinsider.in/The-liquor-industry-is-experiencing-3-seismic-changes/articleshow/51161614.cms
viii
https://www.trendhunter.com/slideshow/pre-mixed-alcohol
ix
https://www.prnewswire.com/news-releases/on-the-rocks-premium-cocktails-expands-ready-to-serve-portfolio-with-
introduction-of-limited-edition-manhattan-301434121.html
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http://cheersonline.com/2016/08/22/ready-to-drink-beverages-take-off-as-consumers-seek-convenience-quality/
xi
https://tradingeconomics.com/india/disposable-personal-income
xii
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xiii
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xiv
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xv
https://www.theguardian.com/science/sifting-the-evidence/2016/may/20/plain-standardised-cigarette-packaging-has-
arrived-but-will-it-reduce-smoking
xvi
http://www.economist.com/blogs/graphicdetail/2015/08/daily-chart-growth-areas
xvii
https://www.beveragedaily.com/Article/2019/04/26/Why-there-s-a-resurgence-in-RTD-alcohol
xviii
https://tandobeverage.com/beverage-trends/
xix
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xx
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xxi
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out-here/1776956
xxii
https://www.healthline.com/health/alcohol/effects-on-body#2


Global Spirits Market Briefing 2023 Including - Whiskey Vodka Rum Gin Tequila

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Global Spirits Market Briefing 2023 Including - Whiskey Vodka Rum Gin Tequila

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Global Spirits Market

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Spirits Market Characteristics

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Spirits Market Trends And Strategies

Ready-To-Mix Hybrid Beverages

Rise Of Alcohol Ecommerce Market

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Rise In Ready-Mixed Cocktails

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Spirits Market Historic Growth

Figure 1: Global Spirits Market, Historic Market Size, 2017-2022, $ Billion

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Table 1: Global Spirits Market, Historic Market Size, 2017-2022, $ Billion

Spirits 112.59 119.97 128.46 123.18 130.87 143.53 4.98%

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Drivers Of The Market

Restraints On The Market

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Spirits Market Forecast Growth

Figure 2: Global Spirits Market, Forecast Market Size, 2022-2027, $ Billion

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Table 2: Global Spirits Market, Forecast Market Size, 2022-2027, $ Billion

Spirits 143.53 153.37 162.8 172.43 182.45 193.06 6.11%

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Drivers Of The Market

Restraints On The Market

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Spirits Market Segmentation

Figure 3: Global Spirits Market, Split By Segment, 2022, $ Billion

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Table 3: Global Spirits Market, Split By Segment, 2022, $ Billion

Whiskey 42.88% 61.55

Vodka 29.00% 41.62

Rum 9.72% 13.95

Gin 9.29% 13.33

Tequila 7.39% 10.61

Other Spirits 1.72% 2.47

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Global Spirits Market, Historic And Forecast, Split By Segment, 2017-2027

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