Market Research Future adds new report of “Global Flavored Spirits Market Research Report- Forecast till 2023” it contains Company information, geographical data and Table of Content
Developing economy and increasing disposable income have a major impact on the flavored spirits market. The increased demand of alcoholic beverages imparting unique and refreshing flavors is also driving the market of flavored spirits globally. Availability of variants amongst the hard liquor further augment the growth of this market. High focus on Research and Development has led to innovations and fortifications in various spirit varieties which has fueled up the market share of flavored spirits in global alcoholic beverages market.
Among the various type of flavored spirits, vodka is evaluated to hold a major share. Variety of flavors available in vodka is attracting mass population of consumers towards the product thereby increasing its market share. Based on various flavors, share of fruits is found to be dominant followed by herbs and spices. Based on the distribution channel, sale through specialty retailers is found to hold a major share owing to one-stop purchase and easy availability of the desired product through the channel.
• Flavored Spirits has been segmented on the basis of Type which comprises of whiskey, rum, vodka, tequila, gin, and others. Vodka is found to hold a major share due to high consumers preference.
• Flavored Spirits has been segmented on the basis of Flavors which include herbs & spices, fruits, nuts & seeds, and others. Among the segments fruits holds a major share.
• Flavored spirits have been segmented on the basis of Distribution Channel which comprises supermarket/hypermarket, specialty retailers, convenience stores, e-commerce, others. Sale through Specialty retailers is growing at a higher growth rate backed up by convenience shopping experience of the consumers.
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• Market share of nuts & seeds is found to be growing at a higher rate during the forecast period
• Top exporters of flavored spirits include Germany, Spain, U.S., Jamaica and the Netherlands
Study Objectives of Flavored Spirits Market
• Detail analysis of the market’s segments and sub-segments
• To estimate and forecast market size by channel and type, flavors, distribution region
• To analyze key driving forces influencing the market
• Region level market analysis and market estimation of North America, Europe, Asia, and the rest of the world (ROW) and their countries
• Value chain analysis & supply chain analysis of flavored spirits
• Company profiling of major players in the market
• Competitive strategy analysis and mapping key stakeholders in the market
• Analysis of historical market trends and technologies along with current government regulatory requirements
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The key players profiled in the Global Flavored Spirits Market are
• Marnier Lapostolle SA (Paris)
• Constellation Brands Inc. (U.S.)
• Davide Campari-Milano S.p.A. (Italy)
• Diageo plc. (U.K.)
• The Brown-Forman Corporation (U.S.)
• Pernod Ricard (France)
• Mast-Jägermeister SE (Germany)
• Flavored spirits manufacturers
• Liqueur Industries
• Specialty alcohol manufacturers
• Traders, Importers and Exporters
Flavored spirits are hard alcohol or hard liquor fortified with additional flavors to make the alcohol distinctive as well as to increase its organoleptic property. Various flavorings are added in order to make the liquor flavored. In some cases, sugar or honey is also added to the alcohol to enhance its flavor. Flavored liquors majorly have a base of vodka, tequila, whiskey, rum and others. Growing popularity of unique flavors in liquors is increasing the share of flavored spirits in the liquor market. In addition, mass consumers are inclined toward experimenting with new flavors due to which flavored spirits have gained popularity in recent years.
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The Global Flavored Spirits Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe has the major market share followed by North America. Developing economy has led to increase in disposable income due to which Europe is projected to generate a high revenue during the given forecast period. The changing consumer preferences for alcoholic beverages will support the sale of flavored spirits in various region during the forecast period. The major importers of flavored spirits include the U.S., Spain, Germany, U.K., and the Netherlands. Based on the higher demand for alcoholic beverages especially in younger population the import and export of flavored spirits in the developed countries is found to rise at a steady rate.
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