Spirits Market to Exhibit a Remarkable CAGR of 13.56% by 2031, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

The global spirits market size was valued at USD 72.22 billion in 2023 and is projected to reach USD 199.74 billion by 2031, with a CAGR of 13.56% during the forecast period of 2024 to 2031.

"Spirits," also known as distilled spirits, liquor, or hard liquor, are alcoholic beverages produced by distillation of grains, fruits, or vegetables that have already gone through alcoholic fermentation. The distillation process increases the alcohol content of the beverage, typically to levels ranging from 20% to 60% alcohol by volume (ABV), including whiskey, vodka, rum, gin, tequila, and brandy.

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Some of the major players operating in the Spirits market are Davide Campari-Milano N.V. (Netherlands), Diageo (U.K.), Halewood Sales (U.K.), Asahi Group Holdings, Ltd. (Japan), Accolade Wines (Australia), Bacardi Limited (Bermuda), Mike's Hard Lemonade Co. (U.S.), CASTEL FRÈRES (France), Suntory Holdings Limited (Japan), Anheuser-Busch Companies LLC (Belgium), Brown-Forman (U.S.), United Brands LLC (U.S.), Pernod Ricard S.A. (France), and Miller Brewing Co. (U.S.)

Global Spirits Market Scope
The market is segmented on the basis of type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Ingredient Type
Gin
Brandy
Cane
Vodka
Flavoured Spirits
Rum
Natural Spirits
Whiskey
Tequila
Distribution channel
Supermarkets and Hypermarkets
On-Trade
Specialist Retailers
Online Convenience Stores
Others

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