Dark Spirits Market is expected to exceed $129.17 billion by 2027, driven by a CAGR of 6.4%

Dark spirits market size was generated $87.25 billion in 2019, and is anticipated to generate $129.17 billion by 2027, growing with a CAGR of 6.4% from 2021 to 2027.

Increase in demand for craft spirits among millennials and baby boomers along with rise in spirit tourism drive the growth of the global dark spirits market. However, high taxation on dark spirits and negative health & social impact on dark spirits hinder the market growth. On the contrary, delivery via e-commerce platforms and surge in demand for clean label and organic dark spirits are expected to open lucrative opportunities for the market players in the future.4

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High entry barrier, low brand loyalty, and high price sensitivity amongst consumers in developing regions remain the major challenges for the dark spirits players operating in the Asia-Pacific region.

Craft spirits have witnessed monumental growth in the last few years, owing to changing consumer preferences toward craft spirits especially whiskey and brandy. According to American Craft Spirits Association, craft spirits are products produced by a distillery, which values the importance of transparency in distilling and remains forthcoming regarding the spirit's ingredients, distilling location, aging, and bottling process.

A distilled spirit is produced by a distillery producing fewer than 750,000 gallons annually. The craft spirits volume sales have witnessed upswing of 26% in 2019, crossing 80 million liters of craft spirits sold in the U.S. alone. The number of craft distillers has also surpassed 2,000 mark in the financial year 2019. The craft movement has brought rising levels of distilling expertise, knowledge, and innovation. Similar trends have been witnessed across Europe and Asia-Pacific regions in prominent countries such as India, the UK, and France. Increasing demand for craft spirits is expected to provide impetus to the global dark spirits market growth.

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The global dark spirits market is segmented on the basis of type, distribution channel, and region. Based on type, the market is classified into whiskey, rum, and brandy. The whiskey segment held the lion's share in 2019, accounting for more than 90% of the total revenue of the market. Moreover, the segment is projected to register the highest CAGR of 6.6% during the forecast period.

The global dark spirits market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion's share in 2019, accounting for more than half of the market. However, the region is projected to portray the highest CAGR of 7.7% from 2021 to 2027. 

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With increased awareness and consciousness, consumers are scrutinizing food as well as beverages labels these days, with alcohol being no exception. Clean label, organic, natural, no additives, and GMO-free alcohol, including dark spirits have been successfully launched in the market. For instance, Waterford Distillery released Ireland's first organic whiskey GAIA 1.1 priced at $110. Similarly, Neisson launched organic certified rum. With more players entering the organic market, the market for organic dark spirits is anticipated to gain high traction with new flavors and offerings to lure consumers.

The global dark spirits industry report includes an in-depth analysis of the prime market players such as Asahi Group Holdings, Anheuser-Busch InBev, Diageo, Kirin Holdings, Pernod Ricard, Suntory Holdings, LT Group, Inc (Tanduay), Bacardi Limited, The Brown-Forman Corporation, and Rémy Cointreau.

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