Vodka Market | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends

Vodka is commonly used in cocktails as it’s colourless and has a clean taste which pairs well with any flavour. The market is expected to witness significant growth, owing to the increase in varieties of Vodka available out for consumers. Today, consumers prefer low-calorie products and superior ingredients due to the rise in health consciousness especially in the younger generation. Therefore, food & beverage industry is facing a challenge to continuously align itself to consumer preferences.

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Global vodka market is driven by the rising interest in cocktails culture among millennial consumers. Companies are now experimenting with innovative flavours for vodka cocktails which is drawing consumers towards exploring more expensive alcoholic beverages. Key players are launching new products to align with these rapid changes in consumer preferences. For instance, in 2019 Pernod Ricard launched, a Caviar-infused vodka called L’Orbe. Moreover, Hilton Head Distillery also launched ‘Aermoor’, a vodka that tastes like birthday cake.

Among Europe, Russia leads in per capita vodka consumption in the world. However, Russia is currently facing a drop in alcohol consumption. For instance, according to WHO, alcohol consumption in Russia has gone down by 43% from 2003 to 2016, owing to growing trend towards healthier living and government enforcement on minimum pricing.

Key Players

Key players operating in the global vodka market include Belvedere, Brown-Forman, Diageo, Gruppo Campari, Pernod Ricard, Russian Standard, Bacardi, Central European Distribution, Constellation Spirits, Tito’s Handmade, Grand Teton, and Deep Eddy.

Market Taxonomy

On the basis of flavor type, the global vodka market is segmented into:

Flavored
Non-flavored

On the basis of distribution channel, the global vodka market is segmented into:

Restaurants and Bars
Specialty Stores
Supermarkets and Hypermarkets
Online Stores
Others

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