Craft Spirits Market by Type (Whiskey, Gin, Vodka, Rum, Others), by Distribution Channel (On Trade, Off Trade), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The size of the Craft Spirits Market was valued at USD 21.40 USD Billion in 2023 and is projected to reach USD 26.75 USD Billion by 2032, with an expected CAGR of 3.24% during the forecast period. Craft spirits are artisanal alcoholic beverages produced with a focus on quality, tradition, and innovation, often by small-scale distillers. These spirits are typically made in limited quantities, allowing for a more hands-on approach to production and a distinct character compared to mass-produced counterparts. The main types include craft whiskey, gin, rum, vodka, and liqueurs. Features of craft spirits often include the use of high-quality, locally-sourced ingredients and unique, often experimental production techniques. This attention to detail results in complex flavors and aromas that reflect the distiller's creative vision. Applications of craft spirits extend beyond consumption; they are frequently used in mixology to create signature cocktails and are valued for their distinctiveness in both social and culinary settings.
Craft Spirits Trends
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Our report provides a comprehensive analysis of the craft spirits market, covering market size, segmentation, growth drivers, challenges, trends, and competitive landscape. It offers insights into the latest industry developments, emerging technologies, and consumer behavior.
The North American region dominates the global craft spirits market, followed by Europe and Asia Pacific. Growth in these regions is driven by the increasing popularity of craft spirits, the presence of established craft distilleries, and favorable regulatory environments.
Millennials and Gen Z consumers are the primary drivers of the craft spirits market. These consumers are more likely to experiment with new flavors, support local brands, and seek out authentic experiences.
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 3.24% from 2018-2032 |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 3.24% from 2018-2032 |
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