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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.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 98.69 billion.
The market is projected to grow at a CAGR of 6.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 173.93 billion by 2032.
The major market drivers include the rising population, growing urbanisation, and the growing demand for craft spirits among millennials.
The key trends guiding the market growth are the rising demand for clean labelled, organic, natural, additive-free, and GMO-free alcohol and the introduction of new product variants that meet evolving consumer demands.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various dark spirit types considered in the market report are whiskey, rum, and brandy.
The leading distribution channels of dark spirits are on-trade and off-trade.
The major players in the market are Anheuser-Busch InBev SA/NV, Asahi Group Holdings, Ltd., Kirin Brewery Company, Limited, Suntory Holdings Limited, and Diageo Plc, among others.
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