Distilled spirits are beverages containing more than 20% alcohol of its total volume. Grapes, peaches, rice, barley, corn, etc. are used as raw material for production of distilled spirits. They are made using fermentation process, post which distillation method is used to increase ethyl alcohol content in the liquor. Distilled spirits are used for direct consumption or consumed with either juices or soda. Common examples of distilled spirits is brandy, whisky, rum, and others.
However, stringent government rules banning advertisement and public consumption of distilled liquor are factors expected to hamper growth of the target market in the near future. Introduction of new flavors of hard liquor can create opportunities for key players in the global distilled spirits market.
The global distilled spirits market report has been segmented on the basis of product type, distribution channel, and region. On the basis of product type, the market is segmented into whiskey, vodka, rum, gin, tequila, brandy, and others. Vodka segment dominates the global market in terms of revenue and expected to maintain its position over the forecast period, owing to increasing demand for premium vodka and increasing popularity of vodka based cocktail drinks. On the basis of distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, drug stores, and online stores. Supermarket & hypermarket segment dominates the global market in terms of revenue. Online segment is expected to show fastest growth, owing to easy availability of variety of liquor on online stores and rising use of online shopping.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for highest revenue share and is expected to maintain its position over the forecast period, owing to increasing number of domestic beverage companies. The market in North America expected to account for second-highest share in terms of revenue in the near future, owing to regular consumption of alcohol by large number of individuals in the region.
Key players operating in the global distilled spirits market include Diageo plc, Pernod Ricard SA, Constellation Brands Inc., Brown-Forman Corporation, Remy Cointreau SA, Marie Brizard Wine & Spirits SA, Lapostolle SA, Berentzen-Gruppe AG, Beam Suntory Inc., and Bacardi Limited.