Spirits Global Market Report 2021: Covid-19 Impact and Recovery to 2030 provides strategists, marketers and senior management with the critical information they need to assess the global spirits (distilleries) market as it emerges from the Covid-19 shut down.
Major companies in the spirits market include United Spirits Ltd (A Diageo Company); United Breweries Ltd (UB); Radico Khaitan Ltd; Globus Spirits Ltd and GM Breweries Ltd.
The global spirits market is expected to grow from $143.31 billion in 2020 to $150.87 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $208.84 billion in 2025 at a CAGR of 8%.
The spirits market consists of sales of potable liquors, ethyl alcohol, grain alcohol and spirits by entities (organizations, sole traders and partnerships) that distil and blend liquors. The companies in the distilleries industry process raw materials into potable liquors, ethyl alcohol, grain alcohol and spirits, package and distribute them through various distribution channels to both individual customers and commercial establishments. The spirits market is segmented into whiskey; vodka; rum; tequila; gin and other spirits.
Asia Pacific was the largest region in the global spirits market, accounting for 58% of the market in 2020. North America was the second largest region accounting for 22% of the global spirits market. Middle East was the smallest region in the global spirits market.
Spirits manufacturers are now offering ready-to-mix hybrid beverages to cater to changing consumer tastes and preferences. Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories. They are prepared by using unique flavour combinations, ingredients and production methods from multiple drinks. For example, producing spirits or beers in a wine barrel, to give them a distinct taste.
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