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Global Craft Spirits Market to reach USD XX billion by 2028.

Global Craft Spirits Market Size study, by Type (Whiskey, Gin, Vodka, Brandy, Rum, Other Types), by Distribution Channel (On-trade Channels and Off-trade Channels), and Regional Forecasts 2022-2028

Product Code: OIRFB-64182310
Publish Date: 10-05-2022
Page: 200

Global Craft Spirits Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Craft spirits are handcrafted beverages that are produced using locally sourced materials and ingredients. Craft spirits are distilled in small quantities, and some of the famous forms of craft spirits are gin, vodka, and rum. Growing popularity of alcohol among millennials is majorly growing craft spirit market. Such as, alcoholic beverage consumption in India in 2020 was 4.86 billion liters which surged to 5.34 billion liters in 2021 and is expected to reach 6.21 billion liters by 2024. Additionally, strategic initiatives taken by market players to cater to the growing demand are also acting as a driving factor for the market. In December 2021, United Spirits Limited launched Diageo’s limited edition Epitome Reserve in India. This edition was a peated single malt, with just 3,600 numbered bottles. Furthermore, introduction of new flavors, rising number of craft distillers around the world, and growing alcohol consumption in pubs and restaurants are anticipated to fuel growth in the market. According to the Institute of Alcohol Studies, in 2019, 28% of alcohol sold in Great Britain was bought and drunk in pubs, clubs, cafés, and restaurants. However, health issues due to higher consumption and stringent government regulations are expected to hamper growth in the coming years.

The key regions considered for the Global Craft Spirits Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is leading the global market in terms of revenue, owing to frequent product launches coupled with rising number of craft distilleries in the region. Whereas, Asia Pacific is anticipated to grow at the fastest pace during forecast period, due to rising popularity among millennials and growing income level in countries such as India and China.

Major market players included in this report are:
Pernod Ricard
Rémy Cointreau
Diageo Plc
William Grant & Sons Ltd.
Rogue Ales
Copper Fox Distillery
Dark Corner Distillery
F.E.E Spirits
Tito’s Handmade Vodka
Asheville Distilling Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Whiskey
Gin
Vodka
Brandy
Rum
Other Types
By Distribution Channel:
On-trade Channels
Off-trade Channels
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Craft Spirits Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Craft Spirits Market, by Region, 2020-2028 (USD Billion)
1.2.2. Craft Spirits Market, by Type, 2020-2028 (USD Billion)
1.2.3. Craft Spirits Market, by Distribution Channel, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Craft Spirits Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Craft Spirits Market Dynamics
3.1. Craft Spirits Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Growing popularity of alcohol among millennials
3.1.1.2. Strategic initiatives by market players
3.1.2. Market Challenges
3.1.2.1. Health issues owing to high consumption
3.1.2.2. Stringent government regulations
3.1.3. Market Opportunities
3.1.3.1. Introduction of new flavors
3.1.3.2. Rising number of craft distilleries
Chapter 4. Global Craft Spirits Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Craft Spirits Market, by Type
6.1. Market Snapshot
6.2. Global Craft Spirits Market by Type, Performance – Potential Analysis
6.3. Global Craft Spirits Market Estimates & Forecasts by Type, 2018-2028 (USD Billion)
6.4. Craft Spirits Market, Sub Segment Analysis
6.4.1. Whiskey
6.4.2. Gin
6.4.3. Vodka
6.4.4. Brandy
6.4.5. Rum
6.4.6. Other Types
Chapter 7. Global Craft Spirits Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Craft Spirits Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Craft Spirits Market Estimates & Forecasts by Distribution Channel, 2018-2028 (USD Billion)
7.4. Craft Spirits Market, Sub Segment Analysis
7.4.1. On-trade Channels
7.4.2. Off-trade Channels
Chapter 8. Global Craft Spirits Market, Regional Analysis
8.1. Craft Spirits Market, Regional Market Snapshot
8.2. North America Craft Spirits Market
8.2.1. U.S. Craft Spirits Market
8.2.1.1. Type breakdown estimates & forecasts, 2018-2028
8.2.1.2. Distribution Channel breakdown estimates & forecasts, 2018-2028
8.2.2. Canada Craft Spirits Market
8.3. Europe Craft Spirits Market Snapshot
8.3.1. U.K. Craft Spirits Market
8.3.2. Germany Craft Spirits Market
8.3.3. France Craft Spirits Market
8.3.4. Spain Craft Spirits Market
8.3.5. Italy Craft Spirits Market
8.3.6. Rest of Europe Craft Spirits Market
8.4. Asia-Pacific Craft Spirits Market Snapshot
8.4.1. China Craft Spirits Market
8.4.2. India Craft Spirits Market
8.4.3. Japan Craft Spirits Market
8.4.4. Australia Craft Spirits Market
8.4.5. South Korea Craft Spirits Market
8.4.6. Rest of Asia Pacific Craft Spirits Market
8.5. Latin America Craft Spirits Market Snapshot
8.5.1. Brazil Craft Spirits Market
8.5.2. Mexico Craft Spirits Market
8.6. Rest of The World Craft Spirits Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Pernod Ricard
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Rémy Cointreau
9.2.3. Diageo Plc
9.2.4. William Grant & Sons Ltd.
9.2.5. Rogue Ales
9.2.6. Copper Fox Distillery
9.2.7. Dark Corner Distillery
9.2.8. F.E.E Spirits
9.2.9. Tito’s Handmade Vodka
9.2.10. Asheville Distilling Company
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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