Craft Spirits Market Product Outlook (Revenue, USD Billion, 2020-2025)
- Craft gin - size and forecast 2020-2025
- Craft whiskey - size and forecast 2020-2025
- Other craft spirits - size and forecast 2020-2025
The market observed significant demand for craft gin among consumers in 2021. The segment observed a considerable growth rate in the global craft spirits market. This is attributed to the rising demand for craft gin in Europe and APAC. In addition, vendors are focusing on launching new and innovative products by using unconventional ingredients such as lemons, orange peels, almonds, grapes, saffron, coriander, spices, anises, and cinnamons. This is further driving the demand for craft gin among consumers, thereby driving the growth of the segment.
Craft Spirits Market Geography Outlook (Revenue, USD Billion, 2020-2025)
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- South America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
42% of the market growth will originate from North America during the forecast period. The growth of the craft spirits market in North America can be attributed to factors such as the presence of key vendors, the growing demand for craft spirits, the increasing number of breweries, and the rising disposable incomes of people in the region. The entry of new players is expected to foster the growth of the regional market during the forecast period.
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The market is driven by the growing demand for craft spirits. The millennial population is expanding across the globe. The population segment is open to experimenting with new products and flavors. Besides, the high spending power of millennials has increased the consumption of unique and exotic products such as craft spirits that offer better taste and satisfaction. This has resulted in an increase in the number of distilleries that serve craft spirits. All these factors are expected to drive the growth of the global craft spirits market during the forecast period.
In addition, rapid urbanization is anticipated to further boost the growth of the craft spirits market. However, fluctuations in the price of raw materials are expected to hinder the growth of market players.
Major Vendors in Craft Spirits Market:
The global craft spirits market is fragmented due to the presence of numerous players at a regional level. Key players have established a strong presence in the market through their established brands. They are adopting organic and inorganic growth strategies to remain competitive in the market. Vendors are also investing in organic and inorganic growth strategies, such as the expansion of production plants and the acquisition of local companies, to increase their productivity and strengthen their market positions. Technavio identifies the following as the dominant players in the market.
- Bacardi Ltd.
- Beam Suntory Inc.
- Black Button Distilling
- Constellation Brands Inc.
- Diageo Plc
- Distell Group Ltd.
- Durham Distillery
- House Spirits Distillery
- Montanya Distillers
- Pernod Ricard SA
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Craft Spirits Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.56% |
Market growth 2021-2025 |
USD 36.82 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.62 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Poland, Czech Republic, Germany, and China |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bacardi Ltd., Beam Suntory Inc., Black Button Distilling, Constellation Brands Inc., Diageo Plc, Distell Group Ltd., Durham Distillery, House Spirits Distillery, Montanya Distillers, and Pernod Ricard SA |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value Chain Analysis: Distillers and Vintners
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five Forces Summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Craft gin - Market size and forecast 2020-2025
- Exhibit 17: Craft gin - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Craft gin - Year-over-year growth 2020-2025 (%)
- 5.4 Craft whiskey - Market size and forecast 2020-2025
- Exhibit 19: Craft whiskey - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Craft whiskey - Year-over-year growth 2020-2025 (%)
- 5.5 Other craft spirits - Market size and forecast 2020-2025
- Exhibit 21: Other craft spirits - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Other craft spirits - Year-over-year growth 2020-2025 (%)
- 5.6 Market opportunity by Product
- Exhibit 23: Market opportunity by Product
6 Customer landscape
- 6.1 Overview
- Exhibit 24: Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 25: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 26: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 APAC - Market size and forecast 2020-2025
- Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 37: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 38: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.2 Market challenges
- Exhibit 39: Impact of drivers and challenges
9 Vendor Landscape
- 9.1 Overview
- Exhibit 40: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 41: Landscape disruption
- Exhibit 42: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 43: Vendors covered
- 10.2 Market positioning of vendors
- 10.3 Bacardi Ltd.
- Exhibit 45: Bacardi Ltd. - Overview
- Exhibit 46: Bacardi Ltd. - Product and service
- Exhibit 47: Bacardi Ltd. - Key news
- Exhibit 48: Bacardi Ltd. - Key offerings
- 10.4 Beam Suntory Inc.
- Exhibit 49: Beam Suntory Inc. - Overview
- Exhibit 50: Beam Suntory Inc. - Product and service
- Exhibit 51: Beam Suntory Inc. - Key news
- Exhibit 52: Beam Suntory Inc. - Key offerings
- 10.5 Black Button Distilling
- Exhibit 53: Black Button Distilling - Overview
- Exhibit 54: Black Button Distilling - Product and service
- Exhibit 55: Black Button Distilling - Key offerings
- 10.6 Constellation Brands Inc.
- Exhibit 56: Constellation Brands Inc. - Overview
- Exhibit 57: Constellation Brands Inc. - Business segments
- Exhibit 58: Constellation Brands Inc. - Key news
- Exhibit 59: Constellation Brands Inc. - Key offerings
- Exhibit 60: Constellation Brands Inc. - Segment focus
- 10.7 Diageo Plc
- Exhibit 61: Diageo Plc - Overview
- Exhibit 62: Diageo Plc - Business segments
- Exhibit 63: Diageo Plc - Key news
- Exhibit 64: Diageo Plc - Key offerings
- Exhibit 65: Diageo Plc - Segment focus
- 10.8 Distell Group Ltd.
- Exhibit 66: Distell Group Ltd. - Overview
- Exhibit 67: Distell Group Ltd. - Product and service
- Exhibit 68: Distell Group Ltd. - Key offerings
- 10.9 Durham Distillery
- Exhibit 69: Durham Distillery - Overview
- Exhibit 70: Durham Distillery - Product and service
- Exhibit 71: Durham Distillery - Key offerings
- 10.10 House Spirits Distillery
- Exhibit 72: House Spirits Distillery - Overview
- Exhibit 73: House Spirits Distillery - Product and service
- Exhibit 74: House Spirits Distillery - Key offerings
- 10.11 Montanya Distillers
- Exhibit 75: Montanya Distillers - Overview
- Exhibit 76: Montanya Distillers - Product and service
- Exhibit 77: Montanya Distillers - Key offerings
- 10.12 Pernod Ricard SA
- Exhibit 78: Pernod Ricard SA - Overview
- Exhibit 79: Pernod Ricard SA - Product and service
- Exhibit 80: Pernod Ricard SA - Key news
- Exhibit 81: Pernod Ricard SA - Key offerings
11 Appendix
- 11.2 Currency conversion rates for US$
- Exhibit 82: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 83: Research Methodology
- Exhibit 84: Validation techniques employed for market sizing
- Exhibit 85: Information sources
- 11.4 List of abbreviations
- Exhibit 86: List of abbreviations
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SOURCE Technavio
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