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2021 LIVE Updates: Vodka Market Projections (2021-2027) with Profiles on Major Industry Players

Vodka Market

Vodka Market

Vodka is an alcoholic beverage, which is made through distillation process. The raw material used for preparation of vodka include starches or sugar plants, such as wheat and vegetables such as potatoes. Vodka is a clear beverage with indistinguishable taste, which was originated in Russia and Poland and got its name from the Russian word ‘voda’ (water). Vodka is commonly used in cocktails as it’s colourless and has a clean taste which pairs well with any flavour.

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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.

Among distribution channel, specialty stores segment held a dominant position in the global vodka market in 2018. Whereas, online stores are expected to have fastest growth attributing to rising internet penetration rate and consumers using e-commerce to buy groceries and other items. For instance, according to the International Telecommunications Union, internet usage has increased around 4% in 2019. Alcohol e-commerce leader Drizly experienced a high growth in online alcohol delivery revenue in 2018. Furthermore, according to the IMF’s report, global retail e-commerce sales reached around US$2.3 trillion in 2017.

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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