Press release
Global Spirits Sales Market- Future Growth Prospects and Industry Trends Analyzed till 2025
Spirits are alcoholic beverages produced by distillation of a mixture produced from alcoholic fermentation. This process purifies it and removes diluting components like water, for the purpose of increasing its proportion of alcohol content.
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Spirits has many types, which include brandy, tequila, baijiu, rum, vodka, whisky and others. As spirits is popular beverage, the downstream application industries will need more spirits products. So, spirits has a huge market potential in the future. Manufacturers engaged in the industry are trying to produce fashionable and good taste spirits through improving technology.
The major raw materials for spirits are grain and packaging materials. Fluctuations in the price of the upstream product will impact on the production cost of spirits. The production cost of spirits is also an important factor which could impact the price of spirits. The spirits manufacturers are trying to reduce production cost by developing production method.
The global Spirits market is valued at 231200 million US$ in 2017 and will reach 236400 million US$ by the end of 2025, growing at a CAGR of 0.3% during 2018-2025.
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The major players covered in this report
Diageo
Pernod Ricard
Brown Forman
Bacardi Limited
LVMH
Beam Suntory
William Grant & Sons
Remy Cointreau
The Edrington Group
Kweichow Moutai Group
Wuliangye
Yanghe Brewery
Daohuaxiang
Luzhou Laojiao
Jose Cuervo
Patrón
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