Global Specialty Spirits Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Product ;

Baijiu, Shochu and Soju and Cachaça.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn597430554 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Specialty Spirits Market (USD Million), 2020 - 2030

In the year 2023, the Global Specialty Spirits Market was valued at USD 134,596.42 million. The size of this market is expected to increase to USD 217,550.36 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 7.1%.

The global specialty spirits market has witnessed robust growth in recent years, driven by evolving consumer preferences and a growing appreciation for unique and high-quality alcoholic beverages. Specialty spirits encompass a wide range of products that deviate from traditional categories like vodka, gin, and whiskey, often distinguished by distinctive flavors, production methods, or regional influences. This segment appeals particularly to adventurous consumers seeking novel taste experiences and to connoisseurs looking for premium, handcrafted options.

One of the key drivers of this market expansion is the increasing trend towards craft and artisanal products across the food and beverage industry. Consumers are increasingly seeking authenticity and uniqueness in their choices, fostering a demand for specialty spirits that offer distinct flavors and production stories. This trend is bolstered by a rising interest in mixology and cocktail culture, where bartenders and enthusiasts alike seek innovative ingredients to create signature drinks and experiences.

The global market for specialty spirits benefits from a growing number of micro-distilleries and boutique producers entering the scene. These smaller-scale operations often focus on quality over quantity, leveraging local ingredients and traditional methods to differentiate themselves in a crowded marketplace. This fragmentation has not only increased the diversity of offerings but also fueled competition, pushing producers to innovate and elevate standards within the specialty spirits sector. As consumer awareness and appreciation for these products continue to expand, the market is poised for further growth and diversification in the coming years.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Region
  4. Global Specialty Spirits Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Changing consumer preferences towards premium and unique alcoholic beverages.
        2. Increasing disposable incomes and spending on luxury items.
        3. Growing interest in craft and artisanal spirits.
      2. Restraints
        1. Stringent government regulations and taxes on alcoholic beverages.
        2. High competition from established brands and regional products.
        3. Health concerns and growing awareness of alcohol-related risks.
      3. Opportunities
        1. Expansion into new emerging markets and demographics.
        2. Innovation in flavors and production methods.
        3. Rising popularity of cocktails and mixology culture worldwide.
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Specialty Spirits Market, By Product , 2020 - 2030 (USD Million)
      1. Baijiu
      2. Shochu and Soju
      3. Cachaça
    2. Global Specialty Spirits Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Diageo plc
      2. Pernod Ricard SA
      3. Bacardi Limited
      4. Brown-Forman Corporation
      5. Beam Suntory Inc.
      6. Campari Group
      7. Rémy Cointreau Group
      8. Moët Hennessy Louis Vuitton (LVMH)
      9. William Grant & Sons Ltd.
      10. Edrington Group
  7. Analyst Views
  8. Future Outlook of the Market