Dublin, Dec. 30, 2021 (GLOBE NEWSWIRE) -- The "North America Spirits Market Size, Share & Trends Analysis Report By Product (Whiskey, Gin), By Caps & Closures Material (Plastic, Metal), By Caps & Closures (Bar-top, Screw-top), By Distribution Channel, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The North American spirits market is expected to reach USD 278.5 billion by 2028, registering a CAGR of 7.7% over the forecast period, according to a new report by the publisher. The market has several growth opportunities due to the rising consumer demand for premium and low alcohol content drinks. Moreover, innovation in Ready-to-Drink (RTD) products with an infusion of botanical and organic ingredients will provide new growth opportunities in the coming years.
The whiskey product segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period. In North America, there is a growing demand for distinctive and handcrafted alcoholic beverages, which is likely to boost market growth. The demand for whiskey is predicted to rise in the coming years due to the increasing consumption of alcohol, especially in the U.S. and Canada.
The U.S. accounted for the largest revenue share in 2020. As per the data by IWSR, people under the age group of 21 to 44 years are the most frequent consumers of low-alcohol drinks. According to The Wall Street Journal, alcohol volumes declined by 0.8% in 2018 in the U.S., slightly steeper than the 0.7% drop in 2017. The market has a strong presence of several regional and international players.
North America Spirits Market Report Highlights
- The whiskey segment accounted for a larger share of the overall revenue in 2020. The growing demand for unique and crafted alcoholic beverages is emerging as a rising trend, which drives the segment
- The screw-top caps & closure segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period
- The growth is credited to several advantages pertaining to the structure of screw-top caps, such as low cost and ease of use & application
- The plastic material segment held the largest market share in 2020 and is expected to maintain dominance over the forecast period
- The abundant availability of these raw materials translates to the low cost of production, thereby making plastic caps and closures a viable choice for packaging
- The liquor stores distribution channel segment accounted for the largest market share in 2020 and is expected to maintain dominance over the forecast period
- Some of the popular liquor stores in North America are Astor Wines & Spirits and Ambassador Wines & Spirits
- Mergers & acquisitions emerged as the key strategy deployed by the majority of market players to stay abreast of the competition
Companies Mentioned
- Diageo plc,
- Pernod Ricard
- Constellation Brands
- Asahi Group Holdings, Ltd.
- Remy Cointreau
- Brown-Forman
- Bacardi Limited
- Suntory Holdings Limited
- Campari Group
- William Grant & Sons
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Caps & Closure Outlook
2.4. Caps & Closure Material Outlook
2.5. Distribution Channel Outlook
2.6. Competitive Insights
Chapter 3. North America Spirits Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on the North America spirits market
3.4. Industry Value Chain Analysis
3.4.1. Sales/Retail Channel Analysis
3.4.2. Profit Margin Analysis
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.5.4. Industry Opportunities
3.6. Business Environment Analysis
3.6.1. Industry Analysis - Porter's
3.6.1.1. Supplier Power
3.6.1.2. Buyer Power
3.6.1.3. Substitution Threat
3.6.1.4. Threat from New Entrant
3.6.1.5. Competitive Rivalry
3.7. Roadmap of North America spirits market
3.8. Market Entry Strategies
3.9. Impact of COVID-19
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. North America Spirits Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2020 & 2028
5.2. Whiskey
5.3. Vodka
5.4. Gin
5.5. Rum
5.6. Brandy
5.7. Others
Chapter 6. North America Spirits Market: Caps & Closure Estimates & Trend Analysis
6.1. Caps & Closure Movement Analysis & Market Share, 2020 & 2028
6.2. Screw-top
6.3. Bar-top/Cork
6.4. Others
Chapter 7. North America Spirits Market: Caps & Closure Material Estimates & Trend Analysis
7.1. Caps & Closure Material Movement Analysis & Market Share, 2020 & 2028
7.2. Metal
7.3. Plastic
7.4. Others
Chapter 8. North America Spirits Market: Distribution Channel Estimates & Trend Analysis
8.1. Distribution channel Movement Analysis & Market Share, 2020 & 2028
8.2. On-Trade
8.3. Liquid Stores
8.4. Online
8.5. Others
Chapter 9. North America Spirits Market: Regional Estimates & Trend Analysis
9.1. Country Movement Analysis & Market Share, 2020 & 2028
9.2. U.S.
9.3. Mexico
9.4. Canada
Chapter 10. Competitive Analysis
10.1. Key global players, recent developments & their impact on the industry
10.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
10.3. Vendor Landscape
10.3.1. Key company market share analysis, 2020
Chapter 11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/89ygil
