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Report Overview
The global vodka market is expected to reach a value of more than USD 42.81 Billion in 2024. The industry is expected to grow at a CAGR of 6.70% during the forecast period of 2025-2034. The growing popularity of flavored vodka and premium offerings is driving the vodka market, particularly among younger consumers seeking unique experiences and higher-quality products, thus boosting the market to attain a valuation of USD 81.88 Billion by 2034.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The increasing percentage of alcohol consumption in the United States, where more than half of adults consume alcohol, directly affects vodka demand. Among the drinkers, 17% binge drink, which mostly involves vodka as the chosen spirit. As binge drinking becomes more common, demand for vodka, especially in larger quantities, continues to increase, making it a significant market segment in the United States, propelling the growth of the vodka market.
- In Australia, 26.8% of adults exceeded the national alcohol consumption guidelines in 2022, which further propels vodka demand. This behavior suggests a growing acceptance of alcohol consumption beyond recommended limits, especially in social and recreational settings. As vodka remains a popular alcoholic choice, the increasing alcohol consumption in Australia indicates a significant growth trajectory for the vodka market, benefiting brands targeting higher consumption rates.
- According to the Central Intelligence Agency, in China, spirits are 2.9% of the average household expenditures. This is an increasing investment in alcohol, including vodka, with growing disposable income. Increasing alcohol expenditure signified that vodka is up for grabs and amongst middle-class households. As the house now becomes wealthy, then demand for premium and flavored vodka will grow.
Vodka Market Growth
Growing interest in ready-to-drink canned cocktails is, therefore reshaping the vodka market because most customers are seeking quick, ready-made cocktails. Smirnoff and Absolut have embraced this by selling canned cocktails as combinations of vodka and ready-to-consume mixers that easily fit the pocket for consuming on-the-go. That makes the products very portable and useful during outdoor events like social parties and also good for any consumer looking at convenience. As consumers are increasingly interested in ready-to-drink products, companies are increasing their ready-to-drink product lines to cater to this demand, especially targeting the younger, on-the-go consumer. E-commerce channels have become an important part of the vodka market growth.
Digital transformation allows brands to reach a wider audience through online platforms, making it easier for consumers to purchase their favorite vodka brands directly. For example, Grey Goose and Tito's Handmade Vodka companies have used e-commerce and digital marketing strategies to create a direct connection with their customers, thus enhancing engagement and providing personalized experiences. This shift enables brands to increase sales and brand loyalty.
Vodka Market Report Snapshots
*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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Key Questions Answered in the Report
In 2024, the market reached an approximate value of USD 42.81 Billion.
The vodka market is assessed to grow at a CAGR of 6.70% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 81.88 Billion by 2034.
The major market drivers are the increasing preference of flavoured vodka among the young generation, the use of vodka in cocktails, and the rising consumer disposable income, along with the growing culture of clubbing.
Companies are actively shifting towards the production of flavoured vodkas and procurement of quality materials to make vodkas or infused cocktails and spirits, which are the key trends guiding the market growth.
Russia is known to consume more vodka than any other country in the world.
Vodka accounts for a healthy share of the global alcohol market, with its sales volume increasing by several million cases and contributing to the total liquor sales.
The market key players are Diageo PLC, Pernod Ricard Group, Grey Goose, Polmos Zyrardów Sp. z o.o., William Grant & Sons Ltd., Stoli Group USA, LLC, Russian Standard Vodka LLC, Brown-Forman, Fifth Generation, Inc., and Wodka Company Ltd, among others.
The market is categorised according to the type, which includes plain vodka, flavoured vodka, and fruit vodka.
Based on the distribution channel, the market is divided into off-trade and on-trade.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124