Westford,USA, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The global Dark Spirits market size is expected to reach USD 105.74 billion by 2030 and exhibit a CAGR of 7.5% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing consumer interest in craft and artisanal spirits, growing cocktail culture and mixology trends, rising disposable incomes, expanding consumer preference for premium and aged spirits, the emergence of new distilleries and brands, and a surge in marketing and promotional activities within the spirits industry is fueling the market's growth.
According to SkyQuest's latest global research of the Dark Spirits market, growing interest in barrel-aged and vintage dark spirits, the rise of craft distilleries and small-batch production, a shift towards sustainability and eco-friendly practices in production and packaging, increasing demand for unique and exotic flavours in dark spirits, the influence of digital platforms and social media on consumer engagement and product discovery, and the expansion of online sales channels and direct-to-consumer models in the dark spirits market are the trends that aid in the market's growth.
Browse in-depth TOC on "Dark Spirits Market"
- Pages - 265
- Tables - 59
- Figures -80
Dark spirits are alcoholic beverages that have been aged in oak barrels, resulting in a dark colour. The term is most often used to describe whiskeys but can also be applied to other types of spirits, such as rum and brandy. Dark spirits are typically full-bodied and have a rich, complex flavour.
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Prominent Players in Dark Spirits Market
- Diageo
- Pernod Ricard
- Bacardi
- Brown-Forman
- Beam Suntory
- Campari Group
- William Grant & Sons
- Rémy Cointreau
- LVMH
- The Edrington Group
- Constellation Brands
- Proximo Spirits
- Heaven Hill Brands
- Beam Global Spirits & Wine
- Luxco
- Sazerac Company
- Gruppo Campari
- Mast-Jägermeister SE
- The Wine Group
- E. & J. Gallo Winery
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 55.11 Billion |
| 2030 Value Projection | 105.74 Billion |
| CAGR | 7.5% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Whiskey Demand to Grow Substantially in the Forecast Period
Whiskey dominates the global online market, gaining widespread popularity among individuals as it has a broad and global consumer base. It is enjoyed in various countries and regions, making it a versatile and popular choice. Whiskey, especially Scotch, has a strong cultural association with countries like Scotland and the United States. This cultural significance often leads to a steady demand and brand loyalty.
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Online Retail is the Leading Application Segment
Online Retail is the leading segment in terms of application as they have gained popularity due to their convenience and accessibility. Consumers can explore a vast selection of dark spirits, read reviews, and purchase from the comfort of their homes. Some distilleries and brands have adopted direct-to-consumer models through online sales channels, allowing them to connect directly with consumers and offer exclusive products.
North America is the leading Market Due to Bourbon and Whiskey Dominance
Region-wise, North America is one of the largest growing markets due to the bourbon and whiskey dominance. The region is known for its production and consumption of Bourbon and whiskey. Bourbon, in particular, has a strong cultural connection and is often associated with American whiskey. Moreover it has witnessed a surge in craft distilleries, leading to a diverse range of whiskey styles and flavors. Craft distilleries have contributed to the growth of the dark spirits market, especially among enthusiasts.
A recent report thoroughly analyzes the major players operating within the Dark Spirits market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Dark Spirits.
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Key Developments in Dark Spirits Market
- In March 2023, Campari Group announced the launch of a new limited-edition rum, Appleton Estate Joy Anniversary Blend 2023.
- In January 2023, Asahi Group Holdings announced the launch of a new Japanese whisky, Takumi.
Key Questions Answered in Dark Spirits Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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