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Spirits Market Price, Size, Share, Demand, Trends, and Global Industry Analysis Report 2023-2032
Spirits Market
The Business Research Company's Spirits Global Market Report 2023 identifies world's population is growing as the major driver for the Spirits market's growth in the forecast period. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for spirits manufacturing (distilleries) products due to the rising population, during the forecast period.
The global spirits market size grew from $143.48 billion in 2022 to $153.33 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global global spirits market is expected to grow to $193.02 billion in 2027 at a CAGR of 5.9%.
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Major competitors in the Spirits market are Diageo plc, Pernod Ricard, Thai Beverage public co., The Brown-Forman Corporation, kirin holdings co Ltd., Christian Dior SE.
A key trend in the Spirits market includes spirits manufacturers. Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories. They are prepared by using unique flavour combinations, ingredients, and production methods from multiple drinks. For example, producing spirits or beers in a wine barrel to give them a distinct taste. Hybrid beverages are particularly evident in the spirit category, with products such as beer mixed with rum and tea mixed with vodka. Some of the popular hybrid beverages include Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua), and Absolut Tune (vodka and sparkling wine).
Read More On The Global Spirits Market Report Here:
https://www.thebusinessresearchcompany.com/report/spirits-global-market-report
The Spirits market is segmented -
• By Type: Whiskey, Vodka, Rum, Tequila, Gin, Other Spirits
• By Distribution Channel: Off-Trade Channels, On-Trade Channels
• By Category: Mass, Premium
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Spirits market.
The Business Research Company's "Global Spirits Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Spirits Market Include:
1. Executive Summary
2. Report Structure
3. Spirits Market Characteristics
4. Spirits Market Product Analysis
5. Spirits Market Supply Chain
……………………………………………………….
21. Spirits Market Competitive Landscape
22. Key Mergers And Acquisitions In The Spirits Market
23. Market Background: Alcoholic - Beverages Market
24. Recommendations
25. Appendix
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