Vodka is an alcoholic beverage, which is made through distillation process. The raw material used for preparation of vodka include starches or sugar plants, such as wheat and vegetables such as potatoes. Vodka is a clear beverage with indistinguishable taste, which was originated in Russia and Poland and got its name from the Russianword ‘voda’(water). Vodka is commonly used in cocktails as it’s colourless and has a clean taste which pairs well with any flavour. The market is expected to witness significant growth, owing to the increase in varieties of Vodka available out for consumers.

Market Taxonomy

On the basis of flavor type, the global vodka market is segmented into:

Flavored

Non-flavored

On the basis of distribution channel, the global vodka market is segmented into:

Restaurants and Bars

Specialty Stores

Supermarkets and Hypermarkets

Online Stores

Others

Market Outlook

Global vodka market is driven by the rising interest in cocktails culture among millennial consumers. Companies are now experimenting with innovative flavours for vodka cocktails which is drawing consumers towards exploring more expensive alcoholic beverages. Key players are launching new products to align with these rapid changes in consumer preferences. For instance, in 2019 Pernod Ricard launched, a Caviar-infused vodka called L’Orbe. Moreover, Hilton Head Distillery also launched ‘Aermoor’, a vodka that tastes like birthday cake.

In 2018, Asia-Pacific accounted for the largest growth, in terms of the revenue, owing to rising population, rapid urbanization, and rising per capita income in the region. According to the World Bank, India’s per capita income increased by 10% in 2019. Moreover, restaurants and bars in the region have benefited from the rising alcohol consumption and demand forpremium vodka. For instance, in 2019 Pernod Ricard, a France-based company that produces alcoholic beverages had 12%rise in alcohol sales in Asia Pacific, owing to success of its vodka brand ‘Absolut’ and expansion of local whiskey brand ‘Seagram’ in the region. Especially in China and India their alcohol sales observed 20% rise in 2019.

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Major Keyplayers: Belvedere, Brown-Forman, Diageo, Gruppo Campari, Pernod Ricard, Russian Standard, Bacardi, Central European Distribution, Constellation Spirits,Tito’s Handmade, Grand Teton, and Deep Eddy.

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