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Identify Hidden Opportunities of Distilled Spirits Market| Diageo plc, Pernod-Ricard SA, Constellation Brands Inc., Brown-Forman Corporation, Remy Cointreau SA, Marie Brizard Wine & Spirits, Lapostolle SA and Berentzen-Gruppe AG.

05-18-2019 08:19 AM CET | Fashion, Lifestyle, Trends

Press release from: Coherent Market Insights (CMI)

distilled spirits

distilled spirits

Distilled spirits are a class of alcoholic beverage obtained from distillation of mixture produced from alcoholic fermentation. The distillation process primarily increases the alcohol content and reduces the dilution by components such as water. This results in higher alcohol content in distilled spirits compared to brewed beverages. The minimum alcohol content in distilled spirit is 20% by volume and is therefore called hard liquor.

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The increasing demand for alcoholic beverages among steadily growing adult and young demographic worldwide, is major factor propelling growth of the market. Moreover, rise in number of distribution channels such as outlets in airports, online sales, and separate counters for females fuel demand for alcoholic beverages, which in turn boosts the global distilled spirits market growth.

In terms of revenue, Europe dominated the distilled spirits market in 2016 and accounted for a share of 45%. This dominance is majorly due to the extensive consumption of alcoholic beverages and the steadily growing young population (0 to 14 years old) or working population (15 to 64 years old) in the region. According to the Eurostat-European Commission, in 2016, young people made up 15.6% and the working age population accounted for 65.3% of the total population in the region.

Asia Pacific is anticipated to be the fastest growing market for distilled spirits, witnessing the highest CAGR, during the forecast period (2017 - 2025). Major factors propelling the growth of this market include the steadily increasing demand for the alcoholic beverages and the rising consumption of alcohol in the emerging economies including India and China.

Based on product, the market is segmented into whiskey, vodka, rum, gin, tequila, brandy and others. Vodka segment dominated the distilled spirits market in 2016. This dominance is due to the increasing demand for the premium and super-premium categories of vodka. Premium range of vodkas contain high-quality water this in turn, differentiates them from the regular varieties.

Major players operating in the global distilled spirits market include Diageo plc, Pernod-Ricard SA, Constellation Brands Inc., Brown-Forman Corporation, Remy Cointreau SA, Marie Brizard Wine & Spirits, Lapostolle SA and Berentzen-Gruppe AG.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.Download PDF Brochure :

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