Global Distilled Spirit Market to Grow At 2.70% CAGR Over 2019-2024

July 27, 2020


According to the research report titled ‘Global Distilled Spirit Market (Value, Volume): Analysis By Type, By Product , By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (North America, Europe, APAC, ROW), By Country , available with Market Study Report LLC, global distilled spirit market is expected to expand with a CAGR of 2.70% during 2019-2024.
 

The report cites that Asia Pacific dominated the global distilled spirit market in 2019. Factors such as consumer preference for superior quality products, growing popularity of cocktail culture, and rapid urbanization are propelling the growth of distilled spirit market in Asia-Pacific. Besides, surging spending on premium & super premium spirits coupled with rising trend of craft spirits are expected to fuel demand for distilled spirits in Asia Pacific.
 

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Based on product type, the market is divided into rum, gin, vodka, liqueurs, brandy, tequila, cognac, whisky, and others. Among these, brandy segment is poised to witness significant growth rate over the forecast period, owing to availability of wide range of products along with customer inclination to pay extra amount for high-quality brands.
 

With regards to the type, global distilled spirit market is segmented into premium and non-premium. From regional overview, the industry is classified into Asia Pacific, Europe, North America and rest of the world, with key focus on countries like US, UK, China, France, Canada, Italy, Germany, Spain, Australia, and India.
 

The study report provides in-depth market intelligence to assist the stake holders and decision makers to take quick judgements. It showcases the key trends, growth drivers, challenges, and visible opportunities in global distilled spirit market sphere. Key players operating in global distilled spirit market are Diageo, Stock Spirits, Bacardi Limited, Brown Forman, Marie Brizard Wine & Spirits, Pernod Ricard, Campari Group, and Constellation Brands among others.
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