Valued to be $32.7 Billion by 2026, Alcoholic Beverages (Distilled Spirits) Slated for Steady Growth Worldwide
23 Sep, 2021, 10:10 ET
SAN FRANCISCO, Sept. 23, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Alcoholic Beverages (Distilled Spirits) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 17; Released: April 2021
Executive Pool: 618
Companies: 683 - Players covered include Berentzen-Gruppe AG; Brown-Forman Corporation; Constellation Brands, Inc.; Diageo PLC; Lapostolle; Marie Brizard Wine and Spirits; Pernod Ricard Groupe; Remy Cointreau Group and Others.
Coverage: All major geographies and key segments
Segments: Product (Whiskey, Vodka, Rum, Gin, Tequila, Brandy, and Other Products)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Alcoholic Beverages (Distilled Spirits) Market to Reach $32.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Alcoholic Beverages (Distilled Spirits) estimated at US$27.3 Billion in the year 2020, is projected to reach a revised size of US$32.7 Billion by 2026, growing at a CAGR of 3% over the analysis period. Whiskey, one of the segments analyzed in the report, is projected to record a 3.6% CAGR and reach US$7.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Vodka segment is readjusted to a revised 4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.6 Billion in 2021, While China is Forecast to Reach $6.5 Billion by 2026
The Alcoholic Beverages (Distilled Spirits) market in the U.S. is estimated at US$7.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.5 Billion by the year 2026 trailing a CAGR of 5.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.
Rum Segment to Reach US$4 Billion by the year 2026
In the global Rum segment, USA, Canada, Japan, China and Europe will drive the 1.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.7 Billion in the year 2020 will reach a projected size of US$3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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