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Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia
Ranking second to beer, spirits are a widely consumed and beloved beverage and make up a large share of the global Alcoholic Beverages market. These versatile libations can be enjoyed in a variety of forms, either alone or in combination with other beverages. Classic mixed drinks that feature spirits as a primary ingredient, such as the Gin-based Martini, Tequila-based Margarita, and Rum-based Mojito, remain enduringly popular among consumers.
There is a notable growing trend that leans towards convenience, with ready-to-drink (RTD) products seeing increased demand among consumers seeking an on-the-go option. Furthermore, mixed drinks that incorporate spirits and soft drinks, such as Whisky & Cola or Gin & Tonic, continue to be popular with consumers worldwide.
Regarding volume, the health and wellness trend dampens the growth of the Spirits market; however, growth potential is still anticipated when it comes to RTDs.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)