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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Vodka Market Trends
Consumer preferences for premium and flavoured spirits continue to be significant drivers, with rising demand for craft and artisanal vodka products that offer unique flavours and higher quality. The increasing popularity of ready-to-drink (RTD) canned cocktails, which prominently feature vodka as a base is contributing to the vodka demand forecast. These products cater to convenience-seeking consumers, offering well-mixed drinks that require no additional preparation and are portable for various social settings and outdoor activities. Additionally, sustainable and eco-friendly practices in vodka production are gaining traction, responding to increasing consumer awareness and preferences for environmentally responsible products.
Vodka Market Report Snapshots
Vodka Market Regional Analysis
*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
The vodka market was valued at USD 40.12 billion in 2023.
The market is projected to grow at a CAGR of 6.7% between 2024 and 2032.
The revenue generated from the vodka market is expected to reach USD 71.92 billion in 2032.
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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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
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 287899028, +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
+84865399124