Distilled Spirits market Growing At A Cagr Of 3.3 % From 2019-2026 | Diageo plc, Pernod-Ricard SA, Constellation Brands Inc.

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. However, the minimum alcohol content in wine, cider and beer is less than 10% by volume, therefore the drinks are not classified as spirits.

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. R&D in manufacturing of distilled spirits plays an important role in the distilled spirits market, as demand for these products largely depends on changing taste and preferences of consumers.

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Detailed Segmentation:

Global Distilled Spirits Market, By Product:
Whiskey
Vodka
Rum
Gin
Tequila
Brandy
Others

Global Distilled Spirits Market, By Distribution Channel:
Supermarkets
Hypermarkets
Specialty Stores
Drug Stores
Online
Others

The rising number of young population worldwide, is considered as the major driver for the distilled spirits market. Furthermore, the rising demand for super premium and premium whiskey coupled with the rising disposable income of the consumers are another factors aiding to the global growth of this market.

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Asia Pacific is expected to project the fastest growth in the global distilled spirits market during the forecast period, owing to the steadily growing demand for these beverages from the countries including China and India. In addition to this, increasing population, rising living standard, substantial growth in the disposable income and the inclination of young generation towards the western culture, are the factors, aiding to the growth of this market.

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