The craft spirits market is forecasted to grow by USD 50893.6 mn during 2023-2028, accelerating at a CAGR of 20.65% during the forecast period. The report on the craft spirits market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for craft spirits, increasing number of craft distilleries, and growing influence of online retailing.
Technavio's craft spirits market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
15.57%
CAGR
20.65%
Incremental Value
$50893.6mn
By Product
Craft whiskey
Craft gin
Other craft spirits
By Distribution Channel
On-trade
Off-trade
By Geographical Landscape
North America
Europe
APAC
South America
Middle East and Africa
This study identifies the rising population of millennials worldwide as one of the prime reasons driving the craft spirits market growth during the next few years. Also, consolidation of craft spirits industry and growing online sales will lead to sizable demand in the market.
The report on the craft spirits market covers the following areas:
Craft spirits market sizing
Craft spirits market forecast
Craft spirits market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading craft spirits market vendors that include Asheville Distilling Co., Bacardi Ltd., Balcones Distilling, Beam Suntory Inc., Black Button Distilling, Chase Distillery, Constellation Brands Inc., Diageo PLC, Distell Group Ltd., Durham Distillery, East London Liquor Co., Eden Mill St Andrews Brewers, Hopmaniacs LLC, House Spirits Distillery, Masons of Yorkshire Ltd., Montanya Distillers, Old Line Spirits, Pernod Ricard SA, Sibling Distillery, and The Lakes Distillery. Also, the craft spirits market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. IT presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Product
Executive Summary - Chart on Market Segmentation by Distribution Channel
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Craft Spirits Market 2018 - 2022
Historic Market Size - Data Table on Global Craft Spirits Market 2018 - 2022 ($ million)