Craft Spirits Market was valued at USD 30.7 Billion in 2022 and is projected to reach USD 45.2 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
In contrast, the market outlook for 2023 to 2033 presents a shift, as demand dynamics evolve in response to factors like technological advancements, changing consumer preferences, and sustainability concerns. Forecasts suggest a continuous upward trajectory, with the global craft spirits market expected to reach more than $20 billion by the early 2030s. This growth will likely be fueled by the expansion of craft distilleries into international markets, enhanced by e-commerce channels that allow consumers to access a wider variety of craft spirits online. The use of AI and automation in production is also anticipated to increase efficiency and scalability while maintaining the artisanal appeal.
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The Craft Spirits Market has seen a substantial growth trajectory from 2018 to 2022, driven by increasing consumer demand for unique, small-batch alcoholic beverages that emphasize quality and authenticity. This period witnessed a rise in the number of distilleries, particularly in regions like the U.S. and Europe, with small craft distilleries breaking into the mainstream. As consumers began favoring artisanal products, the craft spirits sector capitalized on this trend with a variety of offerings, from premium vodka and gin to whiskey and rum. In 2021 alone, the global craft spirits market was valued at over $8 billion, reflecting a steady demand and growth potential.
Pernod Ricard
Rémy Cointreau
Diageo Plc
Anchor Brewers & Distillers
House Spirits
William Grant & Sons
Rogue Ales
Copper Fox Distillery
Chase Distillery
Ltd.
Constellation Brands
Inc.
Woodinville Whiskey
Tuthilltown Spirits
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Craft Spirits Market
Bottle Stores
Bars
Online
Restaurants
Others
Based on Types the Market is categorized into Below types that held the largest Craft Spirits market share In 2023.
Whiskey
Vodka
Gin
Rum
Brandy
Liqueur
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Craft Spirits Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Craft Spirits Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Craft Spirits Market, By Type
6. Global Craft Spirits Market, By Application
7. Global Craft Spirits Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Craft Spirits Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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