Opportunities in the Global Spirits Sector 2024

Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, Middle East and Africa (MEA), the Americas, Western Europe, and Eastern Europe-highlighting sector size, growth drivers, the latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.

The global spirits sector recorded value sales of $797.7 billion in 2023 and is forecast to reach to $1,226.2 billion in 2028, registering a compound annual growth rate (CAGR) of 9%. Asia-Pacific was the largest region accounting for a value share of 53.1%.In 2023, the top five companies in the global spirits sector accounted for a combined volume share of 20.5%. Diageo was the leading company, with a volume share of 7.6%, followed by Pernod Ricard (4.6%), Suntory Holdings (3%), The Mark Anthony Group of Companies (2.8%), and Hite Jinro (2.5%). Hypermarkets & supermarkets led the global spirits sector, with a value share of 34.8% that year. Glass was the most used packaging material, accounting for a volume share of 70.7% in 2023.

The health and wellness trend continues to expand, with an increasing number of consumers striving lead healthier lives. In response to this trend, manufacturers are incorporating zero and low alcohol by volume (ABV) options into their product lines to appeal to health-focused consumers. There is increasing consumer demand for transparency regarding ingredients and health information on labels. This has led to calls for clearer labeling that reflects the contents of the products accurately. Consumers who prioritize health are increasingly looking for spirits alternatives that are free from artificial ingredients and pesticides. Consequently, there has been a rise in the popularity of spirits crafted from natural ingredients.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global spirits sector, analyzing data from 104 countries. It includes analysis on the following -

• Sector overview: Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, Middle East and Africa (MEA), the Americas, Western Europe, and Eastern Europe-highlighting sector size, growth drivers, the latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.
• Change in consumption: Provides an overview of consumption changes in the overall alcoholic beverages industry, including spirits, over 2018-28 at global and regional levels.
• High-potential countries: Provides risk-reward analysis of the top high-potential countries in each region based on market assessment, economic development, governance indicators, sociodemographic factors, and technological infrastructure.
• Country and regional analysis: Provides a deep-dive analysis of 10 high-potential countries covering value growth during 2023-28, key challenges, consumer demographics, and key trends. It also includes regional analysis covering the future outlook for each region.
• Competitive environment and brand shares: Provides an overview of the leading companies and brands at global and regional levels. Market shares of brands and private labels in each region are also detailed.
• Key distribution channels: Provides an analysis of the leading distribution channels in the global spirits sector in 2023. It covers hypermarkets & supermarkets, food & drinks specialists, on trade, convenience stores, and others. Others include cash & carries & warehouse clubs, department stores, vending machines, e-retailers, and other distribution channels.
• Packaging analysis*: The report provides percentage share (in 2023) and growth analysis (during 2023-28) for various pack materials, pack types, closures, and primary outer types based on volume sales of spirits.

Reasons to Buy

• Manufacturers and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates