Craft Spirits Market 2021-2025: COVID-19 Analysis, Drivers, Restraints, Opportunities, and Threats – Technavio

NEW YORK, Aug. 18, 2021 /PRNewswire/ — The craft spirits market is expected to grow by USD 36.82 billion, progressing…

NEW YORK, Aug. 18, 2021 /PRNewswire/ — The craft spirits market is expected to grow by USD 36.82 billion, progressing at a CAGR of almost 23% during the forecast period. The report entails a comprehensive analysis of various dominant vendors including Bacardi Ltd. (Bermuda), Beam Suntory Inc. (US), Black Button Distilling (US), Constellation Brands Inc. (US), and Diageo Plc (UK).

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The growing demand for craft spirits, the increasing number of craft distilleries, and growing disposable incomes are some of the major factors propelling the market growth. However, factors such as fluctuations in raw material price, adverse effects of alcohol on health, and stringent regulations alcoholic beverage industry will hamper the market growth.

More details: https://www.technavio.com/report/craft-spirits-market-industry-analysis

Craft Spirits Market: Product Landscape

The craft spirits market is segmented by products into craft gin, craft whiskey, and other craft spirits. The craft gin segment observed a considerable growth rate in the global craft spirits market in 2020. The growth can be attributed to the rising consumer demand for craft gin from Europe and APAC. The popularity of craft gin is rising in countries including Japan, India, Australia, and the UK due to the rising sales of international brands by local vendors and the surging number of distilleries manufacturing gin.

Craft Spirits Market: Geographic Landscape

By geography, North America is going to have lucrative growth during the forecast period. About 42% of the market’s overall growth is expected to originate from North America. The growth is mainly attributed to the presence of key vendors, the growing demand for craft spirits, the increasing number of breweries, and the rising disposable incomes of people in the region. In addition, a rise in online sales of alcoholic beverages due to the pandemic and associated lockdowns, particularly in the US, Canada, and Mexico has boosted the craft spirit market’s growth in the region.

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Companies Covered:

  • Bacardi Ltd.
  • Beam Suntory Inc.
  • Black Button Distilling
  • Constellation Brands Inc.
  • Diageo Plc
  • Distell Group Ltd.
  • Durham Distillery
  • House Spirits Distillery
  • Montanya Distillers
  • Pernod Ricard SA

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2020, 2021, until 2025
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Craft gin – Market size and forecast 2020-2025
  • Craft whiskey – Market size and forecast 2020-2025
  • Other craft spirits – Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Bacardi Ltd.
  • Beam Suntory Inc.
  • Black Button Distilling
  • Constellation Brands Inc.
  • Diageo Plc
  • Distell Group Ltd.
  • Durham Distillery
  • House Spirits Distillery
  • Montanya Distillers
  • Pernod Ricard SA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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