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With a projected 30.2% CAGR between 2023 and 2030, the worldwide craft spirits market is projected to expand from its 2022 valuation of USD 16.12 billion. Market growth is being fueled by factors such as increased disposable incomes, an increase in the number of craft distilleries, and a rise in the demand for craft spirits. The market is projected to be driven during the forecast period by the large and spending millennial generation.
Liquor made at home is what's known as "craft spirit" market. Distillation and fermentation are the two main steps in making alcohol. The manufacturing volume of craft spirits is limited, typically falling below 750,000 gallons annually. A distiller's license is required to make craft spirits, and this license will outline the allowed production volume and the degree of autonomy the distillery will have from larger companies in the alcoholic beverage business. In the United States, certification to create craft spirits requires a label that has been approved by the Alcohol and Tobacco Tax and Trade Bureau (TTB).
Large, medium, and small distilleries make up the three distinct segments of the worldwide craft spirits business. These three companies control the vast majority of the craft spirits market worldwide. Medium distilleries produce between 10,000 and 100,000 gallons per year, whereas large distilleries produce between 100,000 and 750,000 gallons per year. The tiny distilleries, on the other hand, produce and sell locally and are expanding slowly because of the large distilleries' fierce competition.
In addition, there is a wide variety of craft spirits to choose from, such as various kinds of vodka, whiskey, rum, gin, and brandy. Whiskey, in particular, has become increasingly popular in recent years. Then comes gin, vodka, then rum in that order. In recent years, the U.S. has been followed by Europe as the product's greatest market. Meanwhile, emerging markets are expected to gain traction during the projected period since they are underexplored and hence provide substantial development opportunities for industry participants.
The "Global Craft Spirits Market Analysis to 2028" is an in-depth and specialized research of the worldwide food and drink market that looks ahead to 2028. The purpose of this study is to give readers an insight of the craft spirits industry by providing thorough market segmentation data based on distiller size, product, and geography. During the predicted time period, the global market for artisan spirits is projected to expand at a rapid rate. Key trends and opportunities in the craft spirits industry, as well as data on the current market status of the industry's most prominent companies, are outlined in the research.
The market for craft spirits is still growing, even though COVID-19 is expected to have a negative impact in 2020, according to the US Craft Spirits Association. Surprisingly, the alcohol industry remained mostly unharmed by the pandemic. The number of small distilleries grew by 1.1% between August 2020 and August 2021. More than USD 5 billion in sales are forecast for the market in 2020. The data show that the market is resilient despite recent turmoil.
Report Coverage
Global Craft Spirits research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Craft Spirits report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Craft Spirits competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Craft Spirits market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Craft Spirits market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Craft Spirits market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Eden Mill, Asheville Distilling Company, Constellation Brands, Pernod Ricard, Rémy Cointreau, Masons Yorkshire Gin, Diageo Plc, Distell, William Grant & Sons, Sibling Distillery, Woodinville Whiskey, Chase Distillery Ltd., House Spirits, Anchor Brewers & Distiller, Copper Fox Distillery., Bacardi, East London Liquor Company, WESTWARD WHISKEY (US), HOTALING & CO. (US), Tuthilltown Spirits (US), Rogue Ales & Spirits (US).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Craft Spirits market based on the below-mentioned segments:
Global Craft Spirits Market, By Type
Whiskey
Vodka
Gin
Rum
Brandy
Others
Global Craft Spirits market, By Distiller
Large
Medium
Micro
Global Craft Spirits Market, By Distribution Channel
On-Trade Channel
Off-Trade Channel
Global Craft Spirits market, Regional Analysis
Liquor made at home is what's known as "craft spirit" market. Distillation and fermentation are the two main steps in making alcohol. The manufacturing volume of craft spirits is limited, typically falling below 750,000 gallons annually. A distiller's license is required to make craft spirits, and this license will outline the allowed production volume and the degree of autonomy the distillery will have from larger companies in the alcoholic beverage business. In the United States, certification to create craft spirits requires a label that has been approved by the Alcohol and Tobacco Tax and Trade Bureau (TTB).
Large, medium, and small distilleries make up the three distinct segments of the worldwide craft spirits business. These three companies control the vast majority of the craft spirits market worldwide. Medium distilleries produce between 10,000 and 100,000 gallons per year, whereas large distilleries produce between 100,000 and 750,000 gallons per year. The tiny distilleries, on the other hand, produce and sell locally and are expanding slowly because of the large distilleries' fierce competition.
In addition, there is a wide variety of craft spirits to choose from, such as various kinds of vodka, whiskey, rum, gin, and brandy. Whiskey, in particular, has become increasingly popular in recent years. Then comes gin, vodka, then rum in that order. In recent years, the U.S. has been followed by Europe as the product's greatest market. Meanwhile, emerging markets are expected to gain traction during the projected period since they are underexplored and hence provide substantial development opportunities for industry participants.
The "Global Craft Spirits Market Analysis to 2028" is an in-depth and specialized research of the worldwide food and drink market that looks ahead to 2028. The purpose of this study is to give readers an insight of the craft spirits industry by providing thorough market segmentation data based on distiller size, product, and geography. During the predicted time period, the global market for artisan spirits is projected to expand at a rapid rate. Key trends and opportunities in the craft spirits industry, as well as data on the current market status of the industry's most prominent companies, are outlined in the research.
The market for craft spirits is still growing, even though COVID-19 is expected to have a negative impact in 2020, according to the US Craft Spirits Association. Surprisingly, the alcohol industry remained mostly unharmed by the pandemic. The number of small distilleries grew by 1.1% between August 2020 and August 2021. More than USD 5 billion in sales are forecast for the market in 2020. The data show that the market is resilient despite recent turmoil.
Report Coverage
Global Craft Spirits research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Craft Spirits report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Craft Spirits competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Craft Spirits market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Eden Mill, Asheville Distilling Company, Constellation Brands, Pernod Ricard, Rémy Cointreau, Masons Yorkshire Gin, Diageo Plc, Distell, William Grant & Sons, Sibling Distillery, Woodinville Whiskey, Chase Distillery Ltd., House Spirits, Anchor Brewers & Distiller, Copper Fox Distillery., Bacardi, East London Liquor Company, WESTWARD WHISKEY (US), HOTALING & CO. (US), Tuthilltown Spirits (US), Rogue Ales & Spirits (US). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Craft Spirits Market from 2021 to 2030.
- Market Forecast for Craft Spirits Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Craft Spirits competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Craft Spirits
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Craft Spirits market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Craft Spirits market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Eden Mill, Asheville Distilling Company, Constellation Brands, Pernod Ricard, Rémy Cointreau, Masons Yorkshire Gin, Diageo Plc, Distell, William Grant & Sons, Sibling Distillery, Woodinville Whiskey, Chase Distillery Ltd., House Spirits, Anchor Brewers & Distiller, Copper Fox Distillery., Bacardi, East London Liquor Company, WESTWARD WHISKEY (US), HOTALING & CO. (US), Tuthilltown Spirits (US), Rogue Ales & Spirits (US).
Primary Target Market
- Market Players of Craft Spirits
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Craft Spirits market based on the below-mentioned segments:
Global Craft Spirits Market, By Type
Whiskey
Vodka
Gin
Rum
Brandy
Others
Global Craft Spirits market, By Distiller
Large
Medium
Micro
Global Craft Spirits Market, By Distribution Channel
On-Trade Channel
Off-Trade Channel
Global Craft Spirits market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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