Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia
The Spirits market in G7 countries has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.
Customer preferences: Customers in G7 countries have shown a growing interest in premium and craft spirits. They are increasingly seeking unique and high-quality products, as well as brands with a strong story and heritage. This shift in preferences has led to a rise in demand for small-batch and artisanal spirits, as well as spirits made from locally sourced ingredients. Additionally, consumers are becoming more health-conscious and are opting for spirits that are lower in sugar and calories.
Trends in the market: One notable trend in the Spirits market in G7 countries is the rise of flavored spirits. Flavored vodka, rum, and gin have gained popularity among consumers, particularly millennials, who are attracted to the variety of flavors available. Another trend is the growing popularity of cocktails and mixology. Consumers are increasingly experimenting with different spirits and mixers to create their own unique cocktails at home. This trend has also led to an increased demand for premium mixers and garnishes.
Local special circumstances: Each G7 country has its own unique set of circumstances that have influenced the development of the Spirits market. For example, in the United States, the craft spirits movement has been driven by a desire for locally produced and artisanal products. In France, the tradition of wine-making has influenced the production of spirits, with many distilleries using wine as a base for their products. In Japan, the popularity of whisky has surged in recent years, with Japanese whiskies winning numerous international awards.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Spirits market in G7 countries. These include rising disposable incomes, changing demographics, and increasing urbanization. As incomes rise, consumers have more discretionary income to spend on luxury goods, including premium spirits. Changing demographics, such as an aging population and the rise of millennials, have also influenced consumer preferences and purchasing behavior. Furthermore, increasing urbanization has led to a greater availability and accessibility of spirits, with more bars, restaurants, and retailers catering to the growing demand. In conclusion, the Spirits market in G7 countries is experiencing growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As consumers seek unique and high-quality products, the market has responded with a wide range of premium and craft spirits. Flavored spirits and the popularity of cocktails have also contributed to the market's growth. Each G7 country has its own unique set of circumstances that have influenced the development of the market, while macroeconomic factors such as rising incomes and changing demographics have also played a role.
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)