Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The "Specialty Spirits - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Specialty Spirits was estimated at US$30.3 Billion in 2023, and is projected to reach US$36.7 Billion by 2030, growing at a CAGR of 2.8% from 2023 to 2030.
The growth in the specialty spirits market is driven by several factors, including increased global exposure through tourism, advancements in e-commerce, and shifting consumer preferences toward unique and ethically produced beverages. As international travel has expanded people's exposure to different cultures and their culinary and drinking traditions, there has been a corresponding increase in the appetite for bringing these experiences home. This demand has been met by the expansion of specialty spirits into global markets, often facilitated by advancements in e-commerce that allow consumers to purchase rare and exotic spirits from around the world more easily.
Additionally, the rise of social media has played a crucial role in educating consumers and raising awareness about specialty spirits, with platforms enabling enthusiasts to share tasting notes, cocktail recipes, and the heritage of lesser-known spirits.
Furthermore, there is a growing consumer preference for spirits that are perceived as being produced in a sustainable and ethical manner, reflecting broader concerns about environmental impact and sustainability practices in production. Together, these factors contribute to a dynamic and growing market for specialty spirits, ensuring their continued popularity and integration into mainstream drinking culture.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Baijiu Spirit segment, which is expected to reach US$16.8 Billion by 2030 with a CAGR of a 3.6%. The Shochu Spirit segment is also set to grow at 1.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $8.2 Billion in 2023, and China, forecasted to grow at an impressive 5.6% CAGR to reach $7.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Specialty Spirits Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Branca International, Campari Group, Dillon's Small Batch Distillers, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 278 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $30.3 Billion |
| Forecasted Market Value (USD) by 2030 | $36.7 Billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Specialty Spirits - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
FOCUS ON SELECT PLAYERS
- Branca International
- Campari Group
- Dillon's Small Batch Distillers
- Haworth Wine & Spirits
- LOTTE Corp.
- Luzhou LaoJiao Co.
- Mythology Distillery
- Only Bitters
- Pernod Ricard
- Potomac Wines And Spirits
- Prohibition Liquor Co.
- Sanwa Shurui Co.
- Specialty Spirits & Fine Wine
- Suntory Holdings Limited
- Takara Holdings Inc.
MARKET TRENDS & DRIVERS
- Revival of Artisanal and Craft Production Techniques Strengthens Specialty Spirits Market
- Consumer Interest in Unique and Exotic Spirits With Botanicals and Herbal Infusions Expands Global Market Opportunities
- Rise in Cocktail Culture and Mixology Drives Demand for Diverse Specialty Spirits
- Influence of Travel and Global Exposure on Spirit Preferences
- Consumer Shifts Toward Low-alcohol and Health-conscious Drinking Options
- Cultural Festivals and Events Promoting Regional Specialty Spirits Bodes Well for Market Growth
- Social Media Influence on Trend Setting and Brand Engagement
- Organic, Biodynamic, and Sustainably Sourced Spirits Grow in Prominence
For more information about this report visit https://www.researchandmarkets.com/r/vg20k8
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