Precision Business Insights has published a report on the global alcoholic spirits market, estimating its value at USD 2037.85 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/alcoholic-spirits-market
The alcoholic spirits market is the industry that produces distilled alcoholic drinks from fermented grains, fruits, or vegetables. These spirits often contain more alcohol than beer or wine, ranging from 20% to 50% by volume (ABV). The market covers a variety of categories such as whiskey, vodka, rum, gin, tequila, brandy, and liqueurs.
Drivers:
- Growing middle-class population: Higher disposable incomes have boosted spending on premium and branded alcoholic beverages
- Rise in social media engagement: Digital marketing and influencer promotions have enhanced brand visibility and consumer interest
The global alcoholic spirits market segmentation:
1) By Product Type: Brandy & Cognac, Liqueurs, Whiskey, Tequila, Rum, White Spirits, Others
2) By Distribution Channel: Supermarkets & Hypermarkets, Liquor Specialist Stores, Online Stores, Others
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Regional Overview:
The report also examines the current concerns and their Future Effects on the alcoholic spirits market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the alcoholic spirits market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like Tsingtao Brewery Co. Ltd., Carlsberg A/S, Dandurand, Beam Suntory Inc, Brown-Forman Corporation, Diageo Plc, Pernod Ricard SA, William Grant & Sons Ltd, Asahi Breweries Ltd., China Resources Beer Company Limited.
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