Spirits - G20 | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$359.6bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$123.2bn in 2024.
Revenue, combined amounts to US$482.8bn in 2024.
The revenue, at home is expected to grow annually by 2.24% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$146bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$72.30 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 30.3bn L by 2024.
Volume, out-of-home is expected to amount to 2.4bn L in 2024.
Volume, combined is expected to amount to 32.7bn L in 2024.
The Spirits market is expected to show a volume growth, at home of -0.1% in 2025.0.
The average volume per person, at home in the Spirits market is expected to amount to 6.09L in 2024.

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Whisky, such as Jack Daniel's Tenessee Whiskey
Vodka, such as Absolut Vodka
Rum, such as Bacardi Rum
Gin, such as Ginebra San Miguel
Brandy, such as Ararat Brandy

Wine, such as Red Wine
Beer, such as Budweiser
Non-Alcoholic Spirits, such as Tanqueray 0.0

The Spirits market in G20 is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in the Spirits market are increasingly seeking premium and high-quality products. They are willing to pay a premium for spirits that offer unique flavors, craftsmanship, and a sense of exclusivity. This trend is driven by a growing middle class with higher disposable incomes, who are looking for more luxurious and indulgent experiences. Additionally, health-conscious consumers are gravitating towards spirits with natural ingredients and lower alcohol content, reflecting a desire for healthier options.

Trends in the market: One of the prominent trends in the Spirits market is the rise of craft and artisanal spirits. Consumers are showing a growing interest in small-batch, locally-produced spirits that offer unique flavors and a sense of authenticity. This trend is fueled by a desire for products with a story and a connection to the local community. Craft spirits also appeal to consumers who value sustainability and supporting local businesses. Another trend in the market is the increasing popularity of flavored spirits. Flavored spirits, such as fruit-infused vodkas and flavored liqueurs, are gaining traction among consumers who seek variety and novelty in their drinking experiences. These products cater to a younger demographic who are looking for innovative and exciting flavor profiles.

Local special circumstances: In the United States, the Spirits market is influenced by the cultural significance of whiskey and bourbon. American consumers have a strong preference for these spirits, which are deeply rooted in the country's history and tradition. The popularity of whiskey and bourbon is also driven by the rise of craft distilleries, which have gained a loyal following among enthusiasts. In Europe, the Spirits market is shaped by the rich heritage and tradition of spirits production. Countries like Scotland, Ireland, and France have a long-standing reputation for producing high-quality spirits, such as Scotch whisky, Irish whiskey, and Cognac. These spirits are sought after by consumers who appreciate the craftsmanship and expertise that goes into their production.

Underlying macroeconomic factors: The growth of the Spirits market in G20 is supported by favorable macroeconomic factors. Rising disposable incomes, urbanization, and changing lifestyles are driving consumer spending on luxury and indulgent products. Additionally, the growth of e-commerce and digital platforms has made it easier for consumers to access a wide range of spirits from around the world, further fueling market growth. In conclusion, the Spirits market in G20 is experiencing growth and development due to changing customer preferences, emerging trends, and local special circumstances. Consumers are seeking premium and high-quality spirits, driving the demand for craft and artisanal products. Flavored spirits are also gaining popularity among consumers looking for variety and novelty. Local special circumstances, such as the cultural significance of whiskey in the United States and the heritage of spirits production in Europe, further shape the market. Favorable macroeconomic factors, including rising disposable incomes and the growth of e-commerce, support the growth of the Spirits market in G20.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The term “spirits” refers to an alcoholic beverage that has been distilled, contains no added sugar, and has at least 20 percent alcohol by volume. The term is derived from the medieval practice of alchemy and refers to the essential liquid element obtained from a substance through distillation, the “spirit” of the substance, so to speak. Popular spirits include whiskey, rum, vodka, tequila, and gin, among others.