Global Dark Spirits Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2024-2032)

Global Dark Spirits Market Outlook

The global dark spirits market attained a value of nearly USD 98.69 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.5% to reach about USD 173.93 billion by 2032.          

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The Dark Spirits Industry in the Asia Pacific to Grow at a Robust Pace

The Asia Pacific grew at a robust pace within the global dark spirits industry and is expected to continue to witness a healthy growth in the coming years. The market in the Asia Pacific is being aided by the healthy production of dark spirits in the developing countries of the Asia Pacific like India. Further, the demand in the premium section has shown a witnessable rise over the past few years as with rising purchasing power, many customers are developing their taste in the premium section that offers unique and classic experiences. Due to rapid urbanisation and an increase in disposable incomes of the consumers, the dark spirits industry in the Asia Pacific is expected to witness a robust growth over the forecast period.

Impact of the COVID-19 Pandemic on the Dark Spirits Industry

The dark spirit industry was adversely affected by the COVID-19 pandemic. The pandemic had not only impacted the overall alcoholic beverage industry but also the supply chain and value chain of other industries. This caused a situation of a standstill in operations in 2020. Due to the lockdowns restrictions, various pubs, hotels, and bars across the globe were closed to prevent the spread of coronavirus, because of which the on-trade segment was adversely affected. However, the spike in sales through e-commerce platforms helped the dark spirits industry survive the pandemic.

Dark Spirits: Market Segmentation

Dark spirits are liquors that are darker in appearance. All distilled liquors start out clear, like clear spirits but eventually turn darker. This can be due to their ageing in the barrels or adding caramel to maintain their golden amber colour.

Brandy is distilled from wine or mash of any fruit, especially grapes. Meanwhile, whiskey is distilled from barley, corn, rye, and wheat. Rum, on the other hand, is distilled from sugarcane and its by-products, such as sugarcane juice, molasses, and others. The base is then mixed with water and yeast to complete the process.

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The major types of dark spirits are as follows:

• Whiskey
• Rum
• Brandy

The market can be broadly categorised on the basis of its distribution channel into:

• On-Trade
• Off-Trade

The EMR report looks into the regional markets of dark spirits like North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

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Growing Popularity of Craft Spirits to Bolster the Market Growth

The increase in the demand for craft spirits among millennials and baby boomers in both developed and developing countries is driving the market growth. In the historical period, there has been a rise in spirit tourism, which has been further augmenting the growth of the global market for dark spirits. Due to the rising awareness and consciousness among consumers about clean label, organic, natural, additives-free, and GMO-free alcohol, including dark spirits, the market is being further catalysed with the introduction of new product variants that meet the consumer demands. The sharp rise in the online grocery and delivery services has also positively driven the dark spirits industry.

Key Industry Players in the Global Dark Spirits Market

The report presents a detailed analysis of the following key players in the global dark spirits market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Anheuser-Busch InBev SA/NV
• Asahi Group Holdings, Ltd.
• Kirin Brewery Company, Limited
• Suntory Holdings Limited
• Diageo Plc
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Dark Spirits Market Report Snapshots

Dark Spirits Market Size

Dark Spirits Market Growth

Dark Spirits Companies